Nifty 8338/Sensex 27201/Bank Nifty 18085
23 Advances/ 28 Declines/ 0 Unchanged
“Sensex, Nifty close higher; Lupin soars 8%, Tata Steel down 5%”
S&P BSE IT ,S&P BSE Teck ,S&P BSE Capital Goods,S&P BSE Auto ,S&P BSE Metals were among dragging Sectors and S&P BSE Healthcare,S&P BSE FMCG,Bank Nifty ,S&P BSE BANKEX were among gaining Sectors.
Nifty 50 showed a flat session and showed little range bound volatility as it opened flat at 8342 and traded undecided for the rest of the session as investors seems to be in holiday mode and we may see this for next sessions as investors were not entering Nifty aggressively and may avoid entry as Nifty seems to have entered a correction phase today as it opened at 8342 and made low of 8318 before making a high of 8362 before finally closing the flat session at 8338.Invsetors were booking profit for the previous bull run which Nifty has given and hence we saw a undecided flat session.
Key highlights of 7th July 2016
• Lupin's Goa unit gets establishment inspection report from USFDA; stock up 6%.
• Re 1 hike in kerosene will save Rs 700 cr for system: ONGC.
• Monsoon continues to sweep states; up 1% from normal levels: IMD.
• EPFO may raise investments in equities to 7.5%: Sources
• Tata Steel board likely to put sale plans on hold: Sources.
• PNB surges over 4%, housing finance arm files for Rs 2500 cr IPO.
• NBCC jumps 14% on cabinet approval for redevelopment projects.
• Nomura ups target by 20% on CESC, sees solid earnings outlook.
• KPTL bags orders worth over Rs 1,900 cr.
• Kalpataru Power sees over 10% margins from new overseas orders.
• Max Ventures surges 18% on revision of circuit limit.
Our Call To Buy Nifty (Fut) around 8360--8350 proved great as Nifty (Fut) made high of 8414 before settling at on closing at 8378 . We Booked part profit above 8395.
Our call To Buy Bank Nifty (Fut) Above 18100 proved great as Bank Nifty made high of 18218 before settling at 18140 on closing. We booked full Profit above 18210.
Our call To Buy Castrol (Fut) above 394--392 proved great as Castrol made high of 412.45 before settling at 406.80 on closing. We booked Part profit around 414—415.
Our call To Buy L&T (Cash/Fut) around 1535 proved great as L&T made high of 1586 before settling at 1564 on closing. We booked part profit above 1568.
Our called proved fruitful even in turmoil market
“Hope you all Minted money” Just trade with level and you will mint money.
Still need trial... need not to worry at all? Watch more!!
Now what next??
NIFTY FUTURES: Nifty 50 was in same trajectory to spot nifty and showed a range bound session and hence opened at 8311 and from there made low of 8271 before retracing itself to make a high of 8334 before settling at 8331 and gained just 12 points or increase of 0.14% to the index. Nifty 50 was able to retrace itself along with Support by strong European Extended rally which provided the much needed stimulus to the market and also investors had a stock specific approach throughout the session.
Nifty futures is settled at 8331. It is showing near term immediate crucial resistance at 8380--8420. If this level is breached and sustained positively then we may see resistance building at 8480--8550
It has a near term support intact at 8280--8250. If this level is not sustained then we may see some panic more downside panic in it.
BANK NIFTY: Bank Nifty traded on a positive note as PSU bank making a story for long term and investors were entering at attractive level and hence we saw bank Nifty trade positively and open at 18075 and made low of 18051 before retracing itself to make a high of 18218 before closing the positive session at 18140 with gain of 66 points or increase of 0.37% to the index.
Currently Bank Nifty at 18140 has immediate crucial resistance at 18230--18280. If this level is breached in coming sessions and sustained then one may see next resistance building around 18500--18650 mark.
It also has a near term crucial support 18000. If this level is breached there can be panic and weakness as next support building below 17850--17700 mark.
Trade with levels only. More will update during market hours.
Today's Top Pick
HCL Technologies... Last and crucial support at 700. Weekly close below 700 will see sharp downside panic till 640---600 mark in days to come. Hurdle at 745.
More will update soon!!
