Nifty 8541/Sensex 27836/Bank Nifty 18954
31 Advances/ 20 Declines/ 0 Unchanged
“Infosys Q1 profit falls 4.5%, topline below estimates; cuts FY17 dollar revenue guidance”
S&P BSE Auto, Bank Nifty, S&P BSE capital Goods, S&P BSE Metal were among gaining Sectors and S&P BSE IT,S&P BSE Teck, S&P BSE Small Cap, Nifty Midcap 100.
Nifty 50 traded with volatility on Friday and opened in an undecided note as Q1 result seasons started and hence Nifty 50 traded with volatility as it opened at 8565 made high of 8595 but cracked eventually as heavyweights Q1 result of Infosys and TCS disappointed the market and triggered panic as Nifty 50 made low of 8510 before closing the session on 8541 with decrease of 0.28% to the index and moreover investors had stock specific approach and were hesitant to carry their position next week as negative global news could create an atmosphere of panic in market.
Key
highlights of 15h July 2016:
• Arvind Subramanian, Urjit Patel frontrunners for RBI Governor.
• Infosys lost focus, lower $ revenue growth a setback: analysts.
• Govt may announce recapitalisation of PSU banks today: Sources.
• Infosys tanks 10% post Q1 results: 8 reasons that triggered selling.
• Lakshmi Vilas Bank eyes Rs 400-500 cr from 25% stake sale: Srcs .
• Govt imposes anti-dumping duty on fibre board imports: Sources.
• Titan Company rises 5%, to acquire 61% stake in Carat Lane .
• Banks can't use their own FDRs as collateral: Sebi.
• ICICI group to train 1 lakh youth by 2017: Kochhar
• NMDC Q1 PAT seen down 3.3% at Rs 534.8 cr: ICICI Securities.
• RIL Q1 beats estimates, profit up 4%; GRM surges to $11.50/bbl.
• GMDC Q1 PAT seen down at 5.1% to Rs 74 cr: ICICI Securities.
• SPL Q1 PAT seen down at Rs 939.8 cr: ICICI Securities.
Our recommendations continue to outperform the market
Our Call To Buy Tata Motors DVR (Fut) above 305 proved great as Tata Motors DVR (Fut) made high of 319.30 before settling at 313 on closing. We Booked part full profit around 318--320.
Our Call To Buy Tata Steel (Fut) above 344 proved great as Tata Steel (Fut) made high of 367.80 before settling at 365.25 on closing. We Booked part profit above around 365.
Our call To Buy Reliance 990 CE (Option) around 23--25 proved great as it made high of 39.10 before settling at 35 on closing. We booked full Profit around 39+
Our call To Buy Titan (Fut) around 411--410 proved great as Titane made high of 435.50 before settling at 419.50 on closing. We booked full profit around 433.
Our call To Buy Dabur (Cash) Above 315 proved great as Dabur made high of 319.95 before settling at 312.45 on closing. We booked full profit around 316—316.50
Our call To Buy Nifty (Fut) around 8430--8420 proved great as Nifty Future made high of 8619 before settling at 8561 on closing. We booked full profit around 8600.
Our call To Buy Bank Nifty (Fut) above 18730 proved great as Bank Nifty Future made high of 19045 before settling at 18980 on closing. We booked full profit around above 18964.
Our call To Buy Maruti Suzuki 4400 CE (option) around 75—70 proved great as it made high of 141.75 before settling at 125.90 on closing. We booked part profit around 115--125
Our called proved fruitful even in turmoil market
“Hope you all Minted money” Just trade with level and you will mint money.
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Now what to expect today?
Nifty 50 was in same trajectory to spot nifty and showed immense volatility for the session as negative Q1 results of heavyweights kept disappointing the market and hence we saw Nifty 50 futures open at 8597 and from there it tried to maintain its momentum to make a high of 8619 before result panic eventually created panic to make low of 8527 before closing the volatile session at 8561 with loss of 22 points or decrease of 0.28% to the index and was able to hold 8550 on closing basis indicating some positional strength.
Nifty futures is settled at 8561 and showing immediate Resistance intact at 8600. If this level is positively breached and sustained then next Resistance around 8650--8690.
Nifty 50 Futures has support intact at 8500. If this level is negatively breached and sustained then we may see next support building around 8450--8400.
Bank nifty eventually started with some hiccup as markets were opened on an undecided note but finally picked up momentum in latter session as it opened at 18910 and from there made low of 18823 and then showed some resilience to show a strong pullback to make a high of 19045 and finally closed the session at 18980 with surge of 77 point or 0.41 % to the index. Bank Nifty was able to breach 19000 mark and but was able to sustain it on closing basis as a result of profit booking on the final session.
Bank Nifty futures is showing immediate Resistance at 19000. If this level is positively breached and sustained then next Resistance around 19200--19300.
Bank Nifty Futures has support intact at 18850. If this level is negatively breached and sustained then we may see next support building around 18720--18700
Today's top pick
Concentrate on Asian Paints. Looks positive and could test 1040. Two consecutive closes above 1040 will see sharp upside rally till 1090---1125+ mark in days to come.
Support at 990.
More we will update soon!!!
