Nifty 8623/Sensex 27982/Bank Nifty 18708
20 Advances/ 31 Declines/ 0 Unchanged
Most Active Stocks: Maruti Suzuki ,SBI, TCS
“ALL EYES ON GST: as Bill to be tabled in Rajya Sabha”
“Nifty ends below 8650, Sensex flat; ITC, Maruti, L&T gain 1-4%”
“Selling in Europe drags Sensex below 28000, Nifty marginally lower; HDFC, ICICI weigh”
Nifty 50 showed intense volatility for the day as investors were hawkish and undecided as GST news could take market in either direction as crucial Bill is to be tabled on Rajya Sabha for discussion and hence Nifty 50 traded on expected note as Nifty opened positively at 8647 and from there looked good and tried to hold 8650 by making high of 8687 before a panic could trigger in market and hence it made low of 8611 before closing the volatile session at 8623 as investors maintained an hawkish and cautious approach for the day and was able to hold 8600 on closing and shredded 14 points or decrease of 0.16% to the index.
Key highlights of 2nd August 2016
• Japan approves $130 bn in fiscal steps as part of stimulus.
• Indian Bank Q1 profit jumps 43% despite high tax cost; NPAs rise
• Unitary cooling products lift Voltas Q1 profit 54%, EBITDA 52% .
• HCL Tech Q1 profit seen down 1.8%, Volvo may boost topline.
• Hold Larsen & Toubro; target of Rs 1,525: Axis Direct.
• InterGlobe's Q1 net down; slows deliveries of A320neos.
• Unitary cooling products lift Voltas Q1 profit 54%, EBITDA 52% .
• Lupin falls as CCI imposes penalty for anti-competitive practice.
• Expect 10-11% loan growth in current fiscal: Indian Bank CEO .
• GST passage may catapult Nifty over 9,000 in FY18: Dalton Cap.
• Liability from Tata Docomo to be around Rs 1000 crore: Tata Comm .
• Pending orders may boost revenues 15-20% in FY17: Mangalam Drugs.
Today's Results
Accelya Kale
Acrow India
Adi Finechem
Bajaj Global
Bata India
Berger Paints
Dishman Pharma
DSG Comm
Emami
ESAB India
Ficom Industries
Our call To Buy Maruti Suzuki (Fut) Around 4880 proved great as it made high of 5049 before settling at 5010 on closing. We booked full profit around around 5000.
Our BTST To Buy Petronet (Fut) around 314—312 proved great as it made high of 317.85 before settling at 311.10 on closing. We booked full profit around 317.
Our call To Sell Nifty (Fut) around 8670--8680 proved great as it made low of 8636 before settling at 8660 on closing. We booked full profit below 8650.
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 to expect next??
NIFTY FUTURES: Nifty 50 was in same trajectory to spot nifty and showed immense volatility for the session as GST passage possibility in this parliament session along with Q1 results of various midcap and large cap made market trade with volatility as Nifty 50 future opened positively at 8676 and from there made high of 8731 before panic could take Nifty 50 futures to make low of 8636 as investors maintained and hawkish approach and finally closed a volatile session at 8660 and shredded 28 points or loss of 0.32% to the index.
Nifty was able to hold 8650 on closing and this shows some positional strength.
Nifty futures settled at 8660.
Nifty 50 futures is showing immediate Resistance intact at 8681--8700 .If this level is positively breached and sustained then next Resistance around 8750--8800.
Nifty 50 Futures has support intact at 8630--8600 .If this level is negatively breached and sustained then we may see next support building around 8550--8500.
BANK NIFTY: Bank Nifty was in same trajectory to Nifty and showed intense volatility as GST bill to be tabled in Rajya Sabha and hence this created some uncertainty as investors were maintain an hawkish approach throughout the session and hence we saw bank nifty open at 18872 and from there made high of 18954 before panic could trigger to test low of 18760 and finally closed the volatile session at 18845 and was able to hold its positional resistance of 18700 on closing and showed some resilience.
Bank Nifty futures is showing immediate Resistance at 18950--19070.If this level is positively breached and not sustained then next Resistance around 19180--19230.
Bank Nifty Futures has support intact at 18945--18900.If this level is negatively breached and not sustained then we may see next support building around 18700--18580.
Top Pick of the day
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