Nifty 8616/Sensex 28024/Bank Nifty 19022
32 Advances/ 18 Declines/ 1 Unchanged
Most Active Stocks: Dr Reddy Labs ,SBI, Tata Steel
“Nifty ends at 8616, Sensex flat; ITC, DRL, Reliance down 1-11%”
“Indian shares edge higher; GST bill makes progress”
FII Activity for 27/07/2016
• In the cash market today, FII’s bought 670.89 crores stock whereas DII’s sold -418.29 crores worth of stock.
• In the derivative market, FII’s bought 394.489 crores of Index futures and sold -427.281 crores worth of Index options.
• In the Stock futures segment, FII’s sold -493.941 crores worth of stock futures and sold -190.22 crores of stock options.
Nifty 50 started initially with some hiccups as investors were undecided weather Nifty would hold 8600 or not and traded with some volatility at the opening session as expiry also around the corner but eventually picked up momentum as GST Bill passage looked near and also as stimulus was provided by Q1 results of various midcap sectors and looked to build up upside move as Nifty 50 opened at 8599 and from there made low of 8572 and then showed a strong pullback to make high of 8665 before closing the positive session at 8616 with gain of 25 points or increase of 0.29% to the index. Nifty was able to hold 8600 on closing and this show some positional strength.
Key highlights of 27th July 2016
• Roadblocks cleared, GST passage seen sooner rather than later.
• HDFC Q1 profit up 38% to Rs 1871 cr on stake sale in insurance biz.
• Bajaj Auto Q1 profit up 2% at Rs 978 cr, topline meets estimates.
• JSW Steel Q1 profit jumps 52-fold to Rs 1109cr, EBITDA/tn up 70%.
• JSPL likely to sell 15% stake to Japan's Yamato .
• Sahara rejects $1.3 bn offer, calls it attempt to lower price .
• Bharti Q1 profit seen down 18%, currency pressure in Africa may hit .
• Maruti up 3% on Q1, analysts upbeat but say yen may cap margins.
• Asian Paints Q1 beats estimates, profit up 19%; EBITDA grows 21%.
• Dr Reddy's tanks 10% on slew of downgrades & target cut post Q1.
• Deal with JSW Energy progressing well; more PPAs expected: JSPL.
• United Spirits Q1 net up over 3-fold to Rs 44 crore.
• Expect 25% growth in sales this year, 20% EBITDA margin: Astec.
Today's Results Awaited
• ADLABS
• PNB
• BLUEDART
• CEAT Ltd
• DEEPIND
• DISH TV
• EicherMotor
• Escorts
• GCCL
• GLAXO
• HCC
• Hexaware
• MuthootFinance
• Suryalkashmi
• Syndicate Bank
• TreeHouse
Our BLOG call To buy Jindal Steel on 04/07/2016 (Cash/FUt) Above 72.50 With SL of 67 Lot Size 9000 proven great as it made high of 90.00 before settling at 87.75
Our call To buy Nifty future above 8605 proven great as it made high of 8668. We booked full profit around 8660.
Our call To Buy UPL (Cash) above 592 too proven great as it made high of 610.85 before settling at 608.75 on closing. We booked part profit around 605.
“Hope you all Minted money” Just trade with level... Nothing else
Now what to expect next??
NIFTY FUTURES
Investors should maintain caution as today is last day of expiry and market could swing in either direction.
Nifty future is showing immediate resistance at 8680. If this level is positively breached and sustained then next resistance around 8780--8850 mark else it could test its support level of 8560 again. Further downside panic will see only close below 8560 mark.
Bank Nifty futures is showing immediate resistance at 19200. If this level is positively breached and not sustained then next 5esistance around 19480--19550 mark. It has crucial support at 18700.
Today's top pick
Yesterday we clearly indicated that we will expect pressure in Bank and Banking stocks.
Axis bank crashed vertically. PNB and SBI were in pressure zone. ICICI bank unable to breach 259 and test its resistance level of 272. Facing crucial hurdle at 272.
Today we have expiry in Indian equity market. We have to trade cautious. Fresh levels and updates will provide after expiry.
Intraday... you can bet on Arti Drug around 525 with stop loss of 500. Target looks 550---565+ mark
