Nifty 8683/Sensex 28078/Bank Nifty 18926
42 Advances/ 9 Declines/ 0 Unchanged
Most Active Stocks: HDFC ,ICICI Bank, SBI
“Sensex jumps 364 pts, Nifty at 15-month closing high; Auto & Bank up 2-3%, IT falls”
“Govt pegs inflation target at 4% for 5 years”
Nifty 50 showed a bullish session for the day as Nifty was able to sustain its positional support of 8500 positively and also some stimulus provided buy good job report data along with Government decision to curb inflation provided market with the much needed upside momentum as GST paved way for a upside rally and hence we saw buying at attractive level as Nifty 50 opened with a gap up at 8600 and from there continued its momentum to make a high of 8689 before finally closing the bullish session at 8683 with surge of 132 points or increase of 1.54% to the index.
Key highlights of 5th August 2016
• Vedanta steps up efforts to buy govt's stake in Hind Zinc: Srcs.
• All imports will soon be looking at anti-dumping duty: Steel Secy.
• Cognizant April-June quarter revenue jumps nearly 9.2%.
• Bharat Forge Q1 profit tanks 38% on exports, Q2 demand to be higher.
• Tata Motors soars 3%; July JLR sales up 34% with China rising 64%.
• HPCL, IOC to outshine broader mkt despite over 30% rally: Nomura.
• HDFC Life, Max Life boards may finalise merger next wk: Sources .
• Vodafone offers free 10-min talk time for dropped calls.
• Renault India on course to post first ever double-digit sales.
• Marico Q1 net profit up 17% at Rs 268 cr.
• GlaxoSmithKline Consumer shares dip nearly 3% post Q1 results.
Today Results Awaited
BRITANNIA
COLPAL
DFL
FLORENCE
HEROMOTOCO
IDEA
INDOSOLAR
KCP
LUMAXIND
MAXINDIA
MCLEODRUSS
NITIN FIRE
POLARIS
PRECISIO
SONATSOFTW
SRF
VADILALIND
ZENTEC
Our call To Buy Tata Steel (Fut) Above 373 proved great as it made high of 384.70 before settling at 382.40 on closing. We booked Part profit around around 382.
Our call To Buy Tanla Solution (Cash) around 34.50 proved great as it made high of 38.50 before settling at 35.25 on closing. We booked Part profit around around 36.80—37.00.
Our call To Buy Edelweisse Financial Services (Cash) around 100 proved great as it made high of 114.25 before settling at 113.50 on closing. We booked full profit.
Our call to Buy Cairn India 200 CE (option) around 5.00 proved great as it made high of 7.40 before settling at 5.75 on closing. We booked Part profit above 7.00.
Most of the calls still running.
“Hope you all Minted money” Just trade with level and you will mint money.
Now what to expect next??
NIFTY FUTURES : Nifty 50 Futures was in same trajectory to spot nifty and showed a highly bullish session for the day as it was able to again breach 8700 on closing and was able to sustain it on closing .Nifty 50 Futures opened with a gap up at 8642 and from there continued its upside move to make high of 8717 before finally closing the highly bullish session at 8701 with surge of 95 points or increase of 1.11% to the index. Nifty 50 closed at a premium of 18 and this shows some positional strength
Nifty futures is settled at 8701.Nifty 50 futures is showing immediate Resistance intact at 8750 .If this level is positively breached and sustained then next Resistance around 8880--8930.
Above 8000... target intact 9100---9200 mark.
Nifty 50 Futures has support intact at 8630---8580 .If this level is negatively breached then we may see sharp downside panic in it.
BANK NIFTY: Bank Nifty Futures showed a highly bullish session as GST passage along positive market impetuous provided bank nifty with much needed lift and hence we saw bank nifty open with a gap up at 18836 and continued its upward trend throughout the session to make high of 1904 before finally closing the highly bullish session at 19001 with gain of almost 300 points or increase of 1.59% to the index.
Bank Nifty futures is showing immediate Resistance at 19080--19200.If this level is positively breached and sustained then next Resistance around 19450--19575.
Bank Nifty Futures has support intact at 18850----18700.
Today's top pick
Cement sector is performing well and we expect that this rally remain continue.
Acc... on friday up more than 3%. Above 1725... catch it. We will see rally till 1780---1820+ mark in days to come.
Stop loss below 1665.
Concentrate on Yes Bank... buy and accumulate in panic. Target looks 1500+ mark in coming weeks.
More will update soon!!
