Nifty 8510/Sensex 27710/Bank Nifty 18674
16 Advances/ 35 Declines/ 0 Unchanged
Most Active Stocks: Infosys , Axis Bank ,Wipro
“Sensex, Nifty extend losses; Axis, BHEL, ICICI drag”
“Tepid debut: L&T Infotech lists at 6% discount from issue price”
Nifty 50 traded with volatility on Tuesday and opened in an undecided note as Q1 result seasons started and hence Nifty 50 traded with volatility at the opening session and looked to breach 8600 but suddenly cracked as Bank Nifty created heavy panic and therefore triggered heavy profit booking as Nifty 50 opened positively at 8583 and made a high of 8585 before cracking under pressure to make low of 8503 before finally closing a volatile session at 8510 with loss of 55 points or decrease of 0.65% to the index.
Nifty 50 was able to hold 8500 on closing which shows positional strength.
Key highlights of 21h July 2016
• HDFC Bank Q1 profit rises 20%, provisions & NPA remain higher.
• ITC Q1 profit seen up 10%, cigarette volume likely at 2-4%.
• HPCL board approves issue of 2:1 bonus.
• JSW Energy Q1 profit up 29%; lenders nix bid to buy Monnet Power.
• VRL Logistics up 20%, promoters scrap flying plans; stock premium may return.
• IIFL Holdings shares at 8.5-year high as UK govt firm invests in arm.
• Advanced Enzyme IPO sails through; oversubscribed 1.27 times.
• Kotak Mahindra Bank Q1 profit jumps 4-fold, NII below estimates.
• Mother Dairy eyes Rs 10,000 cr turnover by FY18.
• Power generation utilities owe Rs 12,028 cr to Coal India.
• ABB India Q2 profit grows 35%, order inflows increase 7.6%
TODAY RESULTS AWAITED
Axis Bank
Equitas
Federal Bank
HINDCOMPOS
KIRLPNU
M&M Finance
Parry Sugrar
Persistent System
PRAJIND
RALLIS
SANOFI
THYROCARE
Vijaya Bank
Our BTST call To Buy AurobindoPharma (Fut) 796--794 proved great as it made high of 814.85 before settling at 789 on closing. We booked full Profit above 808
Our call To Buy Cadila Healthcare (Cash) around 371--370 proved great as it made high of 379.30 before settling at 372.60 on closing. We booked part profit around 379.
Our call To Buy ACC 1660 CE (Option) around 25--20 proved great as it made high of 67 before settling at 58 on closing. We booked part profit around 60—65.
Our call To Buy Mothersonsumi 310 CE (Option) around 8.45—8.00 proved great as it made high of 11.80 before settling at 6.75 on closing. We booked part profit around 10—11.80
Our call To Buy HindPetro (Fut) around 1090 proved great as it made high of 1199 before settling at 1151.75 on closing. We booked full profit around 1151--1160.
Our called proved fruitful even in turmoil market
“Hope you all Minted money” Just trade with level and you will mint money.
Still need trial... need not to worry at all? Watch more!!
Now what next??
NIFTY FUTURES: 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 along and with heavy profit booking in PSU sector triggering panic in market as Nifty 50 futures opened positively at 8577 and from there made high of 8594 before cracking in pressure to make low of 8514 before closing the volatile session at 8523 with loss of 67 points or decrease of 0.78% to the index.
Nifty futures is settled at 8523. Nifty futures is showing immediateUpdate on Nifty levels, Bank Nifty levels and Equity Pick of the day 22nd July 2016:
Nifty 50 Futures has support intact at 8520--8480. If this level is negatively breached and sustained then we may see next support building around 8420--8350 mark.
BANK NIFTY: Bank nifty eventually started with some hiccup as markets were opened on an undecided note and showed intense range bound volatility but soon cracket as Q1 results disappointed the markets and also on account of heavy profit booking in PSU banking sectors and hence bank nifty cracked to make a low of 18692 before finally settling the weak session at 18704 with loss of 327 or loss of 1.72% to the index.
Bank Nifty futures is showing immediate Resistance at 18910--181900 .If this level is positively breached and sustained then next Resistance around 19100--19150.
Bank Nifty Futures has support intact at18700--18600. If this level is negatively breached and sustained then we may see next support building around 18450--18300.
Today's Top Pick
Most of the stocks turn negative and we will expect that negative trend remain continue specially in Banking stocks.
1-2 days dead cat bounce could possible but short term outlook is negative.
We clearly indicated that PNB could take correction from higher levels. It crashed and made a low of 122.50
Below 122.50... will see further panic till 118---113 mark. It could retrace till 38% or 50% too which leads to 103 mark.
Trade with levels only. More levels will update during market hours
More will update soon!!
