Nifty 8467/Sensex 27626/Bank Nifty 18390
48 Advances/ 3 Declines/ 0 Unchanged
“Bumper rally on Dalal St: Global cues lift Sensex 500 pts, Midcap at new closing high"
As expected and mentioned in our yesterday’s report as well, that a bullish candle is formed and it can give a good opening on Monday, but this great rally nobody thought of. After last week's consolidation, bulls were back in action and equity benchmarks ended at fresh 2016 closing highs with the Sensex rallying 500 points. The rally in global peers post election results of Japan & US jobs data and value buying boosted sentiment.
he 30-share BSE Sensex surged 499.79 points or 1.84 percent to 27626.69 and the 50-share NSE Nifty rallied 144.70 points or 1.74 percent to 8467.90. The broader markets also participated in the rally with the BSE Midcap ending at record closing high, up 1.5 percent. About 1721 shares advanced against 1042 declining shares on Bombay Stock Exchange.
Bank nifty rallied a good 374 points and closed at 18390.
We booked profit in HUL around 930 , it was advised to buy around 915.
We added more positions in the portfolio of our clients and will be booking good profits very soon.
Key Highlights of 8th July
'Bull market similar to 1980s, see big money flows in US assets'
United Spirits likely to move Bombay HC against Mallya: Sources
India an important partner for the UK: Richard Heald
Coal India board approves share buyback: Sources
After robust Q1, Essar Power Gujarat hopes to up margins further
India likely to grow 7.9% this fiscal, but rains key: Crisil
Now what next for today??
Nifty Future Levels
Who would have expected this robust rally but yes we were positive and are still looking for good long positions. It breached its resistance level of 8420 and spurts near to 8500 mark. Still looks positive and could test 8530---8580 mark. Three consecutive closes + weekly close above 8600 will see further upside rally till 9100---9200+ mark in days to come.
Above 8000... Target intact 9100---9200+ mark in days to come. Immediate support at 8420---8350.
Keep trading with our levels and you will mint money.
Today's Top Pick
Hope you all traded in Asian Paints. Still trend looks positive in it.
Today you can bet on Tata Steel. Looks positive and could test 334---340 mark. Three consecutive closes + weekly close above 340 will see sharp upside rally in it.
Positional traders can buy and accumulate Tata steel.
Stop loss 315.
More will update soon!!
