Nifty July Expiry Ends Above 10000 With A Gain Of Nearly 520 Points
Market Outlook – 28 July 2017
Markets At New High; Nifty July Expiry Ends Above 10000 With A Gain Of Nearly 520 Points; Bank Nifty Crosses 25000; Long Term Trend Remains Up; But May See Consolidation Soon; Avoid Pharma, Infra Stocks For Buying.
NIFTY: Nifty closed lower near the yesterday’s close, at 10020.55 on Thursday after hitting record highs at 10114.85 as traders took a breather and booked profits from long positions on F&O Expiry.
On the daily charts, after successfully crossed 9930 resistance, Nifty has made new lifetime highs in last four occasions. Since then, we are advising traders to look for a buying opportunity in the index as well as in individual stocks and suggesting them to avoid making short positions.
However, today Nifty could not manage to sustain higher levels and closed near the lows, that is mainly due to profit booking in last couple of hours. We have seen a gain of nearly 300 points in last eight trading days in Nifty (approximately 3% of up move). After a robust move in the Nifty, the Index took a respite at current levels.
If we talk about this Expiry, July month has given us a stupendous gain of 520 points (biggest in last six months after January, 2017). After run up like these and for the fact that Nifty has closed near the lows, start of consolidation or even a correction could not be neglected. Consequently, positional traders should look to avoid the index and continue buying in blue chip stocks on dips and consolidations.
Most of the Banking stocks like YESBANK, INDUSINDBK, and ICICIBK hit fresh 52-week high today. Furthermore, NIFTY 50 stocks keep on making new 52-week high including RELIANCE, VEDL, EICHERMOT and many more. Traders may look for a buying opportunity in these stocks.
BANK NIFTY: Bank Nifty has again made new lifetime highs (fourth in a row) at 25032. Index started with a gap up and crossed 25000 for the first time. However, index confronted with a sharp dip in last hour due to profit booking and closed below 25000 with a gain of 235 points.
On the daily charts, Bank Nifty continues to make new highs; in fact this is eighth high the index made in last nine days. This is unbelievable. The US Federal Reserve kept the policy rate unchanged at the end of its two-day rate-setting meeting, which concluded on Wednesday (July 26). We should wait for the market reaction to this before executing trades. Therefore, swing traders should wait next execution.
However, trend remains up in Bank Nifty hence intraday traders should continue to trade on the long side on dips only. Avoid short sell.
|BHEL||142||BUY||Intermediate and Short Term Trend is down in BHEL. The stock has seen a sharp decline and then an upside correction. Prices are now finding resistance at higher levels. We may see a decline here. Sell this stock below 142. If this trade executes then place a stop at 144 and a target at 138.|
|INDIGO||1248||BUY||Intermediate and Short Term Trend is very strong on upside in INDIGO. The stock has seen a sharp decline and then started trading inside a range. We may see a breakout here. Buy this stock above 1250. If this trade executes then place a stop at 1235 and a target at 1280.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|ICICI BANK||JULY FUT||SELL||307.25||BELOW 306||312||297-295||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|HDFC.17.07 Jul||1728.2||5.78||2.46||5007000||TCS.17.07 Jul||2481.5||-3.06||6.35||2560000|
|GODREJCP.17.07 Jul||1073.95||4.6||7.9||852000||TATAMTRDVR.17.07 Jul||262.25||-3.05||3.64||9025800|
|TATAELXSI.17.07 Jul||1736.5||3.44||3.72||780800||BHARTIARTL.17.07 Jul||416.1||-2.53||1.92||11663700|
|CHOLAFIN.17.07 Jul||1178.35||2.94||5.68||316500||MANAPPURAM.17.07 Jul||104.35||-2.48||3.16||10386000|
|DABUR.17.07 Jul||311.9||1.91||3.66||5167500||JISLJALEQS.17.07 Jul||105.65||-2.31||2.03||18567000|
|Short covering||Long Unwinding|
|SUZLON.17.07 Jul||4.45||-5.76||2.41E+08||19.95||SINTEX.17.07 Jul||34.75||-5.05||-8.24||13886625|
|YESBANK.17.07 Jul||4.18||-1.2||4724300||1785.8||IDBI.17.07 Jul||59.5||-4.72||-30.54||9096000|
|IGL.17.07 Jul||3.64||-3.59||650100||1177.15||SREINFRA.17.07 Jul||119.15||-4.18||-6.95||4350000|
|BHARATFIN.17.07 Jul||3.52||-10.72||5157000||818.4||BANKINDIA.17.07 Jul||154.85||-3.94||-35.27||5694000|
|VOLTAS.17.07 Jul||3.33||-29.25||2148000||516.05||CUMMINSIND.17.07 Jul||959.5||-3.84||-12.56||208800|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Vol||Delivery||Del %||% Change|
|Infosys Limited||971.05||-2.31||6338376||2857462||83.19||Nifty 50||10020.55||0||75750|
|Kotak Mahindra Bank Limi||998.15||1.18||2564843||1505873||82.89||Nifty Bank||24922.4||1.02||75750|
|Container Corp of India||1164.4||-0.73||346168||209981||81.31||Nifty IT||10612.3||-1.58||75750|
|Tata Power Co. Ltd.||82||-0.67||2646710||7614411||79.89||Nifty Pharma||9880.25||-1.56||75750|
|Oil & Natural Gas Corp||162.9||-0.67||12361915||6967608||76.21||Nifty Realty||281.9||-0.23||75750|
|Bharat Petroleum Ltd||477.2||1.23||3555501||2437191||75.49||Nifty Infrastructure||3376.15||-0.44||75750|
|Kirloskar Cummins Ltd.||959.6||-4.03||384155||291362||74.53||Nifty PSU Bank||3568||-0.14||75750|
|Hindustan Unilever Ltd||1171.9||0.63||2090566||1162463||74.36||Nifty Auto||10919||-0.77||75750|
|HDFC Ltd.||1728.2||5.8||9028580||3691560||73.26||Nifty Metal||3250.35||-1||75750|
UPCOMING ECONOMIC DATA
|•RBI Monetary Policy on 02nd August, 2017.||•US GDP Data Q2 (QoQ) on 28th July 2017.|
|•Coal India has asked five of its seven subsidiaries to keep aside a total of 40 million tonnes of coal for auction to independent power producers under the Shakti scheme.
•Mahindra & Mahindra (M&M) is in race for a $6 billion order from the US government for postal delivery vehicles, and will submit over a dozen prototypes for road-testing between September and November this year as the process enters its final round.
•In line with Hydrocarbon Vision 2030 for North-East Region, ONGC management has approved additional investment of Rs 3104 Crore for drilling of wells and creation of surface facilities to produce gas from Tripura gas fields.
•ITC increased cigarette prices by 4-8% on Monday, a week after the GST Council imposed a cess to make up for lower tax incidence under the new regime on a class of goods tagged as sin products. Premium brands like Classic and Gold Flake Kings have seen the sharpest hike in prices.
Source: Economics Times, Capitaline
|Company Name||Purpose||Date||Company Name||Purpose||Date|
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|AMARAJABAT||Dividend – Rs. – 4.2500||28-Jul-17||EMKAY||Dividend – Rs. – 1.0000||28-Jul-17|
|BHARATFORG||Final Dividend – Rs. – 5.0000||28-Jul-17||ICRA||Dividend – Rs. – 27.0000||28-Jul-17|
|BRITANNIA||Dividend – Rs. – 22.0000||28-Jul-17||KOVAI||Dividend – Rs. – 2.5000||28-Jul-17|
|CEATLTD||Dividend – Rs. – 11.5000||28-Jul-17||LAXMIMACH||Dividend – Rs. – 35.0000||28-Jul-17|
|CENTURYTEX||Dividend – Rs. – 5.5000||28-Jul-17||NITINCAST||Dividend – Rs. – 1.0000||28-Jul-17|
|DHUNTEAIND||Dividend – Rs. – 8.0000||28-Jul-17||WHEELS||Final Dividend – Rs. – 8.0000||28-Jul-17|
|DPL||Dividend – Rs. – 2.0000||28-Jul-17||ADANIENT||Dividend – Rs. – 0.4000||31-Jul-17|
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