Nifty 8632/Sensex 27990/Bank Nifty 19341
24 Advances /27 Declines/ 0 Unchanged
Most Active Stocks: HDFC, ONGC, Tata Steel
“Sensex below 28000, Nifty ends at 8632; Idea Cellular top gainer”
“Railways streamlines freight rates for coal movement”
Nifty 50 showed a highly volatile session again and showed range bound movement throughout the session and was able to hold 8600 on closing basis and showed intense volatility which has been the theme throughout the week in terms of range bound consolidation and also as expiry is near. Nifty 50 opened positively at 8628 and from there made high of 8642 and tried to hold 8600 but cracked on downside as railways decision to revise slab for coal freight rates triggered Nifty 50 to make low of 8580 but soon took support from and showed resilience in terms strong pullback and finally closed the volatile session at 8633 with gain of just 4 points to the index and was able to hold 8600 on closing basis.
Today's Results Awaited
• HIINFINITERENUKA
• MANINFRA
• NBVENTURES
• SPAL
• Infinite Comp
• Man Infra
• Nava Bharat Ven
• PNC Infratech.
• Sarda Energy
• Vardhman Text
Result Summary
• Allcargo Logistics Q1 net down 8% at Rs 61 cr.
• Nectar Lifesciences Q1 net dips 16% to Rs 12.30 cr.
• Tata Power Q1 profit tanks 76% on one-time loss, revenue down 5%.
• Aurobindo Q1 profit seen up 30%, US biz may support revenue.
• Tata Power Q1 profit seen up 36%, Mundra volumes may be flat.
• Hindustan Copper Q1 net loss at Rs 2.88 cr.
• Renuka Sugars Q1 net profit at Rs 3.2 cr.
Our Call To Buy Tata Chemical (Fut) around 538 proved great as it flared and made High of 557.35 before settling at 556.20 on closing. We booked full profit around 549---551.
Again recommended fresh buying above 551.
Our Call To Buy IRB (Cash/FUt) around 228--225 proved great as it flared and made High of 238.60 before settling at 235.30 on closing. We Booked Part Profit around 238.45
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 futures is showing immediate resistance at 8680. If this level is positively breached and sustained then next esistance around 8760---8800 else it could test its support level of 8580 again. If this level is negatively breached and not sustained then we may see next support building around 8520--8450 mark.
BANK NIFTY: Bank Nifty futures also showed volatility at the opening session and picked up pace as panic cleared in latter half of the session as support of 19250 was sustained positively and hence showed pullback to make high of 19405 before closing the improved session at 19340 with gain of 54 points or increase of 0.28% 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
Coal India... Support at 332 and resistance at 338. Above 338... we will see upside move till 344---348+ mark.
Fresh selling can initiate only close below 332.
