Nifty 8667/Sensex 28077/Bank Nifty 19415
21 Advances /30 Declines/ 0 Unchanged
Most Active Stocks: SBI, Coal India, Tata Steel
“Sensex, Nifty end in red amid volatility; Bank Nifty at 17-month high “
“IPO to add around Rs 800 cr to net worth: RBL”
(RBL Bank's current net worth is Rs 3,000 crore and the IPO will add another Rs 800 crore to it. Coupled with internal accruals the net worth will reach around Rs 4,000 crore in FY17.)
Nifty 50 looks to have entered in consolidation or correction mode and moved on expected terms throughout the session as it opened at weak at 8694 and form there made high of 8697 before some profit booking on last day of week took Nifty to make low of 8647 and closed the weak and flat session at 8667 with loss of just 6 points or decrease of 0.07% to the index. Nifty 50 is moving in range and may continue to do so as recent highs have been made and some healthy correction or profit booking may continue in short term.
Key highlights of 19th August 2016
• RBI may cut rates by 25-50 bps over next 9 months: Birla AMC .
• Bank's NPAs nearly doubled to 8.5% in Q1.
• NPAs of associate banks to weigh on SBI: Religare Capital.
• Julius Baer analyst sees opportunities in despised China market
• Debt of top 30 steel firms hits record $150 bn: E&Y.
• Indian Hotels in talks to merge Taj GVK with self: Sources.
• Response from Cairn shareholders to sweetened bid positive: CEO
• AB Group top officials meeting investors to allay rejig concerns .
• Fortis to get a makeover, demerge diagnostics business.
• Piramal Realty awards Rs 700 cr contract to L&T.
• Sun TV Q1 net profit climbs 19% to Rs 233.1 cr .
• FY17 EBITDA margin may stay over 11%: Transformers & Rectifiers .
• Cost of funds to decline by 100 bps in a year: DHFL.
• IPO to add around Rs 800 cr to net worth: RBL .
Today Results Awaited
• HINDPETRO
• RENUKA
• NTPC
• SPMLINFRA
• HFCL
• ALLCARGO
• HFCL
• JINDALPHOT
• JPOLYINVST
Our Blog Call To Buy SBI (Fut) above 249 proved great as it made High of 260.35 before settling at 258.60 on closing. We Booked part profit around 260.
Our Call To Buy SBI (Cash) Above 249 proved great as it made High of 260 before settling at 258.50 on closing. We Booked Part Profit around 260.
Our Call To Buy Cairn India (Fut) around 206 proved great as it made High 213.15 before settling at 211.70 on closing. We Booked Part Profit around 210.25--211.
Our Call To Buy ONGC 235 CE (option) around 4.00 proved great as it made High 8.95 before settling at 7.55 on closing. We Booked Full Profit around 8.30—9.00.
Our Call To Buy Voltas 370 CE (Option) around 6 proved great as it made High 15.25 before settling at 14.60 on closing. We Booked Full Profit around above 13.00.
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 next??
NIFTY FUTURES : Nifty 50 futures was in same trajectory to spot Nifty and was in consolidation mode throughout the session and closed the week at 8672 with loss of just 4 points or decrease of 0.05% to the index. Nifty 50 future settled at 8676.
Nifty 50 futures is showing immediate Resistance intact at 8720--8750 .If this level is positively breached and sustained then next Resistance around 8815--8830
Nifty 50 Futures has support intact at 8650--8580 .If this level is negatively breached and not sustained then we may see next support building around 8520--8490.
BANK NIFTY: Bank Nifty futures was in opposite trajectory to Nifty and showed some positive movement as SBI and Bank and Bank Of Baroda along with other PSU counters provided Bank nifty with the much needed lift and hence we saw bank Nifty open at 19087 and from there made high of 19367 before closing the improving and range bound positive session at 19352 with gain of 62 points or increase of 0.32% to the index.
Bank Nifty futures is showing immediate Resistance at 19530--19550.If this level is positively breached and sustained then next Resistance around 19675--19780
Bank Nifty Futures has support intact at 19250--19210.If this level is negatively breached and not sustained then we may see next support building around 19085--18975.
Today's Top Pick
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