Nifty 8636 /Sensex 28095/Bank Nifty 18990
42 Advances/ 9 Declines/ 0 Unchanged
Most Active Stocks: ICICI BANK , Reliance ,SBI
“Nifty at 52-week high; Sensex up 292 pts”
Nifty initially traded with some hiccups as investors were undecided weather nifty will hold 8500 or not but eventually showed a strong pullback as Q1 results of midcaps and various sectors lifted the market. Bull started finding confidence as Nifty breached 8600 positively. Nifty open positively at 8520 and from there made low of 8517 before retracing itself on expected lines to make a high of 8641 before closing the bullish session at 8636 with surge of 94 points or increase of 1.11% to the index.
Key highlights of 25th July 2016
• US biz may drag Dr Reddy's Q1, net seen down 27% at Rs 456 cr.
• FII flows lift Nifty to 52-wk high; Sensex up 292 pts to top 28K.
• Canara Bank Q2 profit tanks 52% to Rs 229 cr, NII falls 8%.
• Oil PSU cos jump on merger buzz; Chennai Petro at 6-yr high.
• Paris Airports likely to pick up 40% stake in GMR Airports: Srcs.
• Axis Bank's fee income growth dissappoints: IIFL.
• L&T Fin expects rural margins to grow on back of microfin biz .
• Cairn India deal to lift Vedanta's rating & capex: Axis Cap.
• Managing portfolio quality crucial to growth: Equitas Holdings.
• IDBI Bank plans to raise Rs 28,000 cr via equity, debt.
• Muthoot launches recycling hub in Bengaluru; to open more stores.
We again minted money in tonnnnneeeeessss.. Have you???
Our BLOG call To Buy Satin Credit Care Network around 530 proven great as it made high of 618.80 before settling at 608 on closing. Gain of 83.60 points on Intraday.
Our BTST call To Buy Havells (Fut) around 376 too proven great as it made high of 388.40 before settling at 380.65 on closing. We booked part profit around 386—388.
Our call to buy REC LTD (Cash) around 212--210. It made high of 217.90 before settling at 216 on closing. We booked part profit around 217--220.
Our call To Buy IndiabullHousing Finance 740 CE (Option) around 13—14 proved great as it made high of 34.45 before settling at 15.55 on closing. We booked part profit around 19--23.
Our call To Buy PFC 220 CE (Option) around 1.65—1.50 proved great as it made high of 6.40 before settling 4.50 on closing. We booked Full profit around 5.75—6.40
Our call To Buy Nifty (Fut) above 8605 proved great as it made high of 8647 before settling at 8636 on closing. We booked profit around 8640.
Our call To Buy GHCL (cash) around 208—205 proved great as it made high of 228 before settling at 224.10 on closing. We booked part profit around 221--222.
Our call To Buy PNB (Cash/Fut) around 123--122 proved great as it made high of 131.90 before settling at 131.50 on closing. We booked full profit around 130.20
Our call To Buy Amaraja Batteries (Fut) around 894—892 too proven great as it made high of 913.15 before settling at 903.20 on closing. We booked full profit around 910.
“Hope you all Minted money” Just trade with level and you will mint money.
Now what next for today?
NIFTY FUTURES: Two consecutive closes above 8600 will take to 8750---8820+ mark in days to come. Positive momentum continue in Nifty. Nifty unable to breach its support level of 8480 and bounced back. Still it has support at 8520---8480. Fresh selling can initiate only close below 8480 mark.
Traders can buy and accumulate Nifty in panic with stop loss below 8480. Once close already happen above 8600 and we need one more close above that mark.
BANK NIFTY: Bank nifty eventually started with some hiccup as markets were opened on an undecided note but picked up momentum as PSU banking sectors posted supportive q1 result which provided much needed stimulus to the index as it opened at 18808 and made low of 18715 before retracing itself to show a bullish pullback to make high of 19170 before closing the bullish session at 19090 with Surge of 253 points or increase of 1.34% to the index.
Bank Nifty futures is showing immediate resistance at 19180. If this level is positively breached and sustained then next resistance around 19350--19420 mark.
Bank Nifty Futures has support intact at 18800. If this level is negatively breached and not sustained then we may see next support building around 18600---18500.
Traders can trade with levels only. More will update during market hours
Today's Top Pick
Our calls... Coal India, BHEL, Asian paints, PNB all proven great. Today a new counter...!!
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