Nifty 8273/Sensex 27020/Bank Nifty 17946
29 Advances/22 Declines/0 Unchanged
“Nifty ends at 8273, Sensex flat; BHEL gains 2%, Infosys loses 2%”
“Sensex, Nifty end flat; Midcap outperforms, oil hits 8-month high”
“S&P BSE Healthcare, S&P BSE IT, S&P BSE Tech, S&P BSE FMCG among Dragging Sectors and S&P Small Cap, S&P BSE Auto, S&P BSE Capital Goods, Nifty Midcap 100 among gaining Sectors.”
Nifty 50 traded on expected note as consolidation was the theme of the day as Nifty has previously given a strong bull rally and hence it showed some range bound movement as it opened on an expected note at 8286 and made a high of 8289 and then made low of 8252 on account of correction or short covering which created panic and finally closed at 8273 with just increase of 0.08% to the index. Nifty 50 overall trend remains positive as investors are looking to be bullish on Nifty above 8300 if this level is sustained and consecutive closes around these level is given and also if 8250 is sustained.
Key highlights of 9th June 2016
• Global risk aversion is coming; Sensex may drift lower: HSBC.
• NMDC, MOIL to buyback shares worth Rs 8,400 cr.
• Defence stocks rally 10-17%; US says India 'major defence partner'.
• Nuke pact to lead to orders only after 12-18 mnths: Walchandnagar .
• Bharti to benefit most from 3% SUC, 85bps margin gain likely; stock up 2%.
• Nifty 50 based ETF assets surge 7-fold to Rs 8,533 cr.
• Jeff Bezos says Amazon to up India investment to $5 billion .
• Monsoon hits Kerala, to cover country by June end: IMD .
• Rajan mum on 2nd term, says long-term plan is to teach.
Our Performance...
Our BTST call To Buy Century Textile (Fut) around 644-642 proved great as Century Textiles made high of 661 before settling at 656.30 on closing. We booked full Profit around 652.
We also recommended buying Titan 360 CE (Option) around 7.00--6.70.Today It made a high of 9.85 before it closed at 9.60. We Booked part profit around 9.50
We recommended M&M Financial (Fut) around 336--334.It made a high of 342.90 before it closed at 341.95.
Our called proved fruitful even in turmoil market.
Still need trial... need not to worry at all? Watch more!!
Now what next??
Nifty Futures was in same trajectory to spot nifty and traded with some range bound volatility as it opened on strongly at 8297 and then made high of 8300 before short selling or correction could dominate Nifty 50 futures for later half of session and hence made low of 8263 before retracing and finally closing at 8280 with decrease of just 0.03% to the index.
Nifty futures settled at premium of 7 to Spot nifty and this show that Nifty 50 futures is positional strong on closing basis with respect to spot nifty.
Nifty futures is settled at 8280. It is showing near term crucial resistance at 8350 and likely to test its resistance level of 8350. If this level is breached and sustain positively then we may see resistance building at 842p--8480 mark.
It has a near term support intact at 8200. Break and sustain + close below 8200 will take to 8120----8080 and then to 8000 mark.
Trade with levels only.
Today's Top Pick
PNB.... Breakout point 80. Three consecutive closes + weekly close above 80.00 will see sharp upside rally till 86---90+ mark in days to come.
Support at 76.00
More will update soon!!
