Daily Nifty News
MARKET SNAPSHOT
| SYMBOL | OPEN | HIGH | LOW | CLOSE | CHANGE |
| NIFTY | 8439 | 8457 | 8341 | 8363 | -1.74% |
| SENSEX | 28031 | 28031 | 27635 | 27687 | -1.72% |
Nifty levels:
Nifty spot close @8363
Nifty future close @8368
SYMBOL
|
S1
|
S2
|
PIVOT
|
R1
|
R2
|
NIFTY SPOT
|
8314
|
8265
|
8385
|
8434
|
8505
|
NIFTY FUTURE
|
8319
|
8272
|
8397
|
8446
|
8517
|
Today’s view on Nifty
Due to the global clues markets slide below its major support level, though weak global scenario but Indian markets are still strong every dip will be a buying opportunity.
Bank Nifty levels:
Bank nifty spot close @18463
Bank nifty future close @18499
| SYMBOL | S1 | S2 | PIVOT | R1 | R2 |
BANKNIFTY
SPOT
| 18353 | 18244 | 18511 | 18620 | 18778 |
| BANKNIFTY FUTURE | 18596 | 18257 | 18525 | 18659 | 18814 |
View on Banknifty
Bank nifty closed around its support level around 18400 so remain above that buying opportunity.
MARKET COMMENTERY
Metal and banking stocks led losses as key benchmark indices plunged. Intraday recovery for the benchmark indices witnessed earlier during the trading session and during the latter part of the trading session proved short lived. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit their lowest closing level in more than a week. The Sensex fell below the psychological 28,000 mark. The Sensex lost 483.97 points or 1.72% to settle at 27,687.72. The steep slide for key equity benchmark indices in India was triggered by a sharp setback in Chinese stock market. A three-week selloff in China's stock market has darkened the outlook for the world's second-largest economy.
STOCK BUZZ
- Metal and mining stocks fell as global commodity prices dropped amid a dimming outlook for China's economy. China is the world's largest consumer of steel, copper and aluminum. Steel Authority of India (down 6.09%), Tata Steel (down 4.72%), JSW Steel (down 3.13%), Hindustan Copper (down 3.02%), Bhushan Steel (down 2.4%), NMDC (down 2.3%), National Aluminum Company (down 1.65%), Hindustan Zinc (down 1.49%) and Jindal Steel & Power (down 1.09%) edged lower.
- Among private sector banks, Yes Bank (down 7.46%), ICICI Bank (down 1.57%), Federal Bank (down 1.54%), Axis Bank (down 1.49%), HDFC Bank (down 1.47%) and Kotak Mahindra Bank (down 0.76%), edged lower. City Union Bank rose 0.35%.
HOT PURSUIT
- Following the emergency euro zone summit in Brussels yesterday, 7 July 2015, European leaders gave debt-stricken Greece a final deadline of Sunday to reach a new bailout deal and avoid Greece's exit from the euro zone. Representatives of the 19-country euro zone said all 28 European Union leaders would meet on Sunday, 12 July 2015, to decide Greece's fate. The talks were organized after Greeks voted in a referendum on Sunday, 5 July 2015, against a bailout that carried stringent austerity measures.
- France and Germany told Greece yesterday, 7 July 2015, to craft urgent proposals to prevent Greece's exit from the eurozone, a day after Greeks voted overwhelmingly to reject more austerity. German Chancellor Angela Merkel and French President Francois Hollande, the euro zone's most powerful leaders, said Athens must move quickly if it wants to secure a cash-for-reform deal with creditors and avoid crashing out of the single currency. In a referendum held on 5 July 2015, Greek voters overwhelmingly rejected reform measures put forward by the country's international creditors, a result seen as increasing the chances of Greece exiting the shared currency viz. the euro.
OPTION STRATEGY
In today’s session we have seen call writing in nifty 8500 call so we can consider this as a strong resistance.
CROMPTON 180 & 190 CALLS were so active, stock is really in bullish move more rally is expected up to 190.
VOLTAS 320 calls were in action today, stock showed us gain from lower level, more buying above 320.
STOCKS TO WATCH
ARVIND:
ARVIND:
Buy ARVIND above 273 stocks may show 300/310 in coming days, Below 273 major support will be 262.
AMBUJA:
Sell AMBUJA as remain below 238 we may see some new lows. Buy only above 245.
M&M FINENCE:
Buy M&M FINENCE as remain above 270 stock may show 290/300 level in coming days, below 270 major support 261.
TOP PICKS OF THE DAY
- BUY RELIANCS ABOVE….? TGT…..?STOP LOSS……?
- BUY ICICI BANK ABOVE…..?...TARGET….?..STOPLOSS…?
- SELL VOLTAS BELOW….? STOCK MAY SHOW 290/280 LEVEL IN COMING DAYS WITH STOP LOSS…?
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CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. We generate intraday as well as delivery calls in Stock cash and F&O in NSE & BSE, Commodities including bullions, metals & Agro- commodities traded in MCX and NCDEX.
