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22-June-2015
Nifty levels:
Nifty spot close @8224Nifty levels:
Nifty future close @8247
Buying opportunity above 8150 index may show 8300-8350 level, consolidation is expected from lower level.
Bank Nifty levels:
Bank nifty spot close @17880
Bank nifty future close @17915
More buying is expected today, selling opportunity below 17600. We may see 17400-17300 level below 17600.
MARKET COMMENTERY
Refinery Oil, banks and FMCG stocks led gains for key benchmark indices today, 19 June 2015. Positive sentiment in European and Asian markets and rally in US stocks overnight boosted sentiment. Key benchmark indices hovered in positive zone throughout the trading session today, 19 June 2015. The barometer index, the S&P BSE Sensex settled at its highest level in 2-1/2-weeks. The 50-unit CNX Nifty settled at its highest level in more than two weeks. The Sensex rose 200.34 points or 0.74% to settle at 27,316.17. The market breadth indicating the overall health of the market was positive. In overseas markets, Asian and European stocks edged higher after a rally in US stocks overnight which materialized a day after the Federal Reserve signaled it would move more slowly on raising interest rates.
STOCK BUZZ
1. Bank stocks edged higher on renewed buying. Among public sector banks, UCO Bank (up 3.11%), Corporation Bank (up 0.49%), Central Bank of India (up 2.71%), State Bank of India (up 0.81%), IDBI Bank (up 0.4%), Punjab National Bank (up 1.29%), Bank of Baroda (up 2.04%) and Union Bank of India (up 0.14%) edged higher. Syndicate Bank (down 0.05%) and United Bank of India (down 0.21%) edged lower.
2. Hindalco Industries edged higher after the Life Insurance Corporation of India (LIC) hiked its stake in the company to 13.337% from 11.328% in the last two months. The stock rose 0.37% at Rs 120.55. LIC in a disclosure to the NSE after market hours yesterday, 18 June 2015, said that it had hiked its stake in Hindalco Industries to 13.337% from 11.328% during the period from 16 April 2015 to 17 June 2015 through open market purchases.
HOT PURSUIT
1. Meanwhile, Finance Minister Arun Jaitley reportedly said in an interview to a newspaper in the United States yesterday, 18 June 2015, that important changes are being made in government policies every week. Jaitley said that overhauls are moving ahead at a rapid pace and there's a lot of agenda still to cover. Jaitley said the government is looking for compromises that would speed up passage of a new law aimed at easing the acquisition of land for development projects. Jaitley said the tax notices to foreign institutional investors (FIIs) demanding payment of the minimum alternate tax (MAT) were a legacy of 2012 litigation and would be reviewed by the Supreme Court. Once the Supreme Court judgment comes, the MAT issue will get sorted out, he said. Jaitley is currently on a 9-day official visit to the United States.
2. For the country as a whole, the cumulative rainfall during this year's monsoon season was 11% above the Long Period Average (LPA) until 17 June 2015. Region wise, the southwest monsoon was 19% above the LPA in Central India, 16% above the LPA in East & Northeast India and 7% below the LPA in Northwest India until 17 June 2015. The rainfall was 100% of the Long Period Average in South Peninsula.
OPTION STRATEGY
1. In today’s session we have seen call writing in nifty 8200 call so we can consider this as a strong resistance.
2. RELIANCE 1000 & 1020 CALLS were so active, stock is really in bullish move more rally is expected up to 1020.
3. ZEEL 340 calls were in action today, stock showed us gain from lower level, more buying above 340.
STOCKS TO WATCH
TATAPOWER:
Selling opportunity below 74 stocks may show 71/68 level in coming days. Above 74 major resistances will be 77.
DISHTV:
Buy DISHTV above 110, stock may show 120/125 level in coming days. Below 110 major supports will be 105.
PFC:
Selling seen on the card below 265, stock may show 245/235 levels in coming days. Though long term buyers can accumulate the stock from dips.
TOP PICKS OF THE DAY
1. BUY ONGC ABOVE….? TGT…..?STOP LOSS……?
2. BUY GAIL ABOVE…..?...TARGET….?..STOPLOSS…?
3. SELL CANBK BELOW….? STOCK MAY SHOW 295/290 LEVEL IN COMING DAYS WITH STOP LOSS…?
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