Nifty 8666/Sensex 28208/Bank Nifty 19076
24 Advances/ 27 Declines/ 0 Unchanged
Sensex, Nifty extend rally; Reliance, ITC, HDFC twins lead
Asian Paints, Maruti Suzuki, ITC, Sun Pharma, TCS, Bharti Infratel and Eicher Motors surged while Tata Steel, Adani Ports, L&T, Lupin, Tech Mahindra and Aurobindo Pharma fell yesterday.
Equity benchmarks rallied sharply in late trade with the Sensex rising 184.29 points to 28208.62 and the Nifty climbing 50.50 points to 8666.30. About 1489 shares advanced against 1160 declining shares on the BSE.
Bank Nifty climbed 55 points to close at 19076.Some analysts are of the believe that Nifty has run out of the steam it can get through good fundamentals.
The global economy is not exactly in fine shape but one wouldn't conclude that having a look at equity markets. Analysts say share prices have been driven to multi-year or record highs globally thanks to easy-money policies pursued by central banks. So we have to be stock specific and cautious for our targets.
Key highlights of 28th July 2016
PNB Q1 profit tanks 57%; NPA nearly 14%, fresh slippages at Rs 7,533 cr
Vodafone India may get $4 bn equity infusion from UK parent: Srcs
GST Bill: Most parties on board, house may take it up next week
Asian Paints at new high, up 9% post Q1; monsoon, 7th Pay key
Joint MD Sunil Kant Munjal to step down from Hero MotoCorp Board
Eicher Motors Q1 profit surges 59%, Royal Enfield EBITDA up 68%
Nexa outlets to account for 15% sales by 2020: Maruti
Logistics cos gain up to 7% on hopes of passage of GST Bill
Our recommendations Proved great despite the expiry and we managed to enter in all the moving and gaining
stocks.
We booked profit in our BTST call of Adani port around 231, it was asked to buy at 228.
Another BTST proved great, Indusind was asked to buy around 1175,and we booked profit at 1189.
Maruti Suzuki Skyrocketed and we booked part profit at around 4745, it was recommended to buy around 4645. It flared and made a high of 4800.
We booked another part profit in Natco pharma around 628---630,it was recommended to buy at 608—605.
Our clients are holding in many other future and cash recommendations and we will be booking profit very soon.
Now what to expect next??
Nifty July series has given a break above the level of 8665.
Now Nifty august contract is trading at 8699, and it has the hurdle
at the level 8720 levels and we still need a breakout and a close
above this level.
Nifty futures has a support at 862p—8560 levels. Our long term target still remains intact at 9000—9100.
Bank nifty July series closed at 19075 and August series is trading at 19160.
Bank nifty has immediate resistance at 19250 levels. A close above this level is required for a fresh bullish rally.
Support is present at 19000---18700.
Just keep trading with our levels and keep minting money.
Today's Top Pick
Yesterday we had given buy call for Intraday on Arti drugs.
Proven great and made a high of 545. We advised to buy around 525 mark.
Hope you enjoyed intraday level !!
Today we will bet on...
Coal India... Ready for a big move. Hurdle at target looks 336.
Three consecutive closes + weekly close above 336 will see non stop rally in it.
Support and more levels will provide only to our subscribers
