Nifty 8287/Sensex 26999/Bank Nifty 17935
44 Advances/ 7 Declines/ 0 Unchanged
“Sensex recoups Brexit loss, up 259 pts; Nifty at new 2016 closing high on F&O expiry”
“Sound policy to drive cashflows not monsoon: Andrade”
Nifty 50 showed a highly bullish session as all the negative global events like BREXIT impacts seems to have been absorbed by Indian Markets and also swift policies passed by Cabinet also providing the much needed stimulus to the market as today it gave a gap up open on anticipation of policy measures and announcements and from there made high of 8308 before finally closing the bullish session at 8287 with gain of 83 points or increase of 1.02% to the index.
Key highlights of 30th June 2016
• There are now $11.7 trillion worth of bonds with negative yields.
• Hindalco looks to refinance $1.1 bn bonds on Novelis' book: Srcs Brexit Blow: UK may renegotiate Indian IT contracts: Srcs.
• Dabur says demand is down, looks to grow in high single-digits.
• Deutsche Bank says SBI best PSU bank, sees 13% upside; stocks up.
• Hindalco to gain from higher cash flows, finds Morgan Stanley.
• Manufacturing data in July next trigger for mkts: Deutsche Bank.
• Alembic Pharma up 5% post USFDA inspection of units.
• Pioneer Distilleries down 5%, extends Maharashtra plant shutdown.
• HDFC Bank aims to double SME book in four years.
• We are in a bull market; Nifty may touch 9K by Jan 2017: Experts.
. Nifty likely to see 9100 levels soon: Rare Enterprises.
• Rains may not wash away agri lenders' woes so soon: Ind-Ra.
• Positive on JSW Steel as prices firm up, imports abate: JPMorgan.
• Brexit impact quite muted on India;GST key for economy: World Bk.
• Weak exports, margins to weigh on Bharat Forge: Morgan Stanley.
. Order inflows, strong operating margins to aid L&T's FY17 growth.
. 5-tonners to keep growing at 25%, says Eicher Motors.
Our Call To Buy Nifty (Fut) around 8140--8130 proved great as Nifty (Fut) made high of 8310 before settling at 8290 on closing. We booked full profit around 8260.
Our call To Buy Cipla (cash ) Above 492 proved great as Cipla made high of 506.80 before settling at 500.80 on closing. We booked part profit around 503—506.
Our call To Buy BHEL (Fut) around 124.50—124.20 proved great as BHEL made high of 128.20 before settling at 127.70 on closing. We booked full profit above 127 .
“Hope you all Minted money” Just trade with level and you will mint money.
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Now what next??
NIFTY FUTURES: Nifty 50 was in same trajectory to spot nifty and showed a positive session on expected not as BREXIT fear was absorbed and positive sentiments created in market for along with cabinet approval of much needed policies and hence gave a gap up open at 8288 and from there made high of 8336 before settling a highly bullish session at 8235.Nifty 50 futures settled at a premium of 38 and this shows that Nifty 50 futures is positionally strong above 8300.
Nifty futures July contract settled at 8325.
It is showing near term immediate crucial resistance at 8330. Weekly close above 8330 will see further upside rally till 8480----8550+ mark in days to come. Above 8000... our target intact 9100---9200+ mark in coming weeks.
It has a near term support intact at 8260. Close below 8260 will see further downside panic till 8180---8150 and then to 8080 mark.
Today traders can try to trade in less quantity. Major or fresh position will initiate from Monday onward.
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