Nifty 8521/Sensex27808/Bank Nifty 18667
30 Advances/21 Decline/0 Unchanged
"Sensex up 181 points ,Nifty above 8500 for 1st time since August 2015"
Nifty has been looking positive from the start of this week and extended its bull run again as it gave a gap up open indicating a strong upward trend for at least short term as this trend was supported by positive employment data as well as positive and also the fact that GST is also in sight along with positive monsoon rainfall has been tremendously supporting the markets as Nifty 50 opened positively with a gap up open at 8503 and from there maintained its momentum to make a high of 8527 and settled the positive session at 8521 with gain of 53 points or increase of 0.66% to the index.
Key Highlights of 12th July 2016
• Cairn- Vedanta merger gets LIC's go ahead:Sources.
• Synnex buys Minacs for 420 million dollars.
• Cement cos may report healthy earnings growth in Q1:Report.
• Opto circuits eyes significant market share gain via catheter launch.
• 1st day 1st show:Quess corp soars 61% from issue price.
• Lafarge deal to be the ticket to Nirma's cement ambitions.
• India Fiscal easing constrained by high debt:Moody's.
• Fertilizers sees 7 % growth in FY16+ despite weak monsoon.
• Keltron bags order worth Rs 133 crore from West Bengal.
• Coal India to buy back 10.89 crore shares worth 3650 crore.
• Cairn Energy seeks 5.6 Billion compensation from India.
• Commercial vehicle space to grow by 15--20%:Ashok Leyland.
Are you enjoying rally or not???
Our blog call... Tata Steel. Flared like anything thing and hit 337 mark. Minted money or not???
Our BTST call on Adani Ports (Fut) around 218 proved good as Adani ports made high of 220.40. before settling at 217.30. We booked Full profit above 220.
Our Call to buy Lic Housing Finance (cash/Fut) around 515--512 proved good as LIC Housing Finance made high of 533.50. before settling at 522.60. We booked part profit around 531.
Our Call to buy Andhra Bank (Fut) around 61.20--61.00 proved good as Andhra Bank made high of 63.15. We booked part profit around 63.
Our Call to buy Cadilla Healthcare 380 CE (option ) around 7 proved good as it made high of 9.85 before setelling at 7.40.We booked part profit around 9.80--10.00.
Our Call to buy Bank Nifty (Fut) around 18420--18400 proved good as Bank Nifty made high of 18598 before closing .We booked part profit around 18550.
Still need trial... need not to worry at all. Watch more.
Now what to expect today?
Nifty 50 was in same trajectory to spot Nifty and traded positively throughout the session as it gave a positive gap up open at 8514 and from there made high of 8534 before finally setelling the session at 8527 with gain of 36 points or increase of 0.42% to the index. Nifty 50 futures also showed some profit booking but was supported by bulls as they are entering Nifty aggressively looking at the long term target as short term target of 8500 was breached and sustained on closing.
Nifty 50 futures is showing immediate resistance at 8600 and likely to test its resistance. Three consecutive closes + weekly close above 8600 will see further upside rally in it.
Above 8000... target intact 9100---9200 mark.
Nifty 50 futures has support at 8420---8350.
Bank Nifty Futures
Bank Nifty futures has been in a bull run since a positional resistance of 18000 was positively breached and sustained technically and more over PSU bank making a story for long term as investors are buying bank at attractive levels for long term and also Government reforms in banking sector and systematic inflow of cash also supported nifty tremendously as bank nifty futures opened positively at 18527 with a gap up and continued its bull run to make a high of 18684 before finally closing the bullish session with surge of 277 points or increase of 1.50% to the index.
Bank Nifty futures is showing immediate Resistance at 18700. If this level is positively breached and sustained then next resistance around 19000--19200 mark.
Bank Nifty Futures has support intact at 18400.
Today's Top Pick
Hope you all enjoyed levels in Asian paints and Tata Steel. Tata steel trend still looks positive.
Today you can bet on Reliance industries in cash segment. Above 1005 we will see sharp upside rally till 1020--1030+ mark.
Support and stop loss 990.
More will update soon!!
