Nifty Scripts New Lifetime High With A Historic 10000 Mark
Market Outlook – 26 July 2017
Nifty Scripts New Lifetime High With A Historic 10000 Mark; A Gap Up Of 45 Points Did Not Sustain, But Trend Continues To Be Bullish; Midcap Outperforms With Blue Chips Continue To Hit Fresh Highs; Look For A Buying Opportunity On Dips.
It was a day of extreme volatility with wild swings of a percent or more seen in Nifty during the session. Both bulls and bears tried their best to wrest control of the market but from intraday perspective its bulls who have won the battle by managing to close near the highs above 9900 at 9915 with a gain of 0.42%.
On the daily charts, prices are consolidating in a trading range (9780-9930) from last two weeks and today, prices closed in the upper side of this range. We may see a breakout on the upside soon. Bank Nifty, IT also gained with Nifty. WIPRO and TCS were the leading gainers in IT and gains were mainly added by KOTAKBANK in Bank Nifty. Look to trade on the long side of the market only on dips as far as prices are trading above 9780 levels.
Trend is still sideways in Nifty but for shorter time frame our view is mildly bullish and so despite the index being close to resistance, traders should avoid any kind of short positions in it. If Nifty can able to attain new highs again then 10000 level is also not far away.
Bank Nifty again had a choppy day in the markets; prices started with a minor gap up but dip in the first half took prices near 24050. The second half went in the favour of bulls as they managed to pulled back prices to intraday high at 24290. Final closing of the index was near the highs at 24280 with a gain of 0.18%.
On the daily charts, Bank Nifty is trading just below its lifetime high and if Nifty able to cross resistance then Bank Nifty can also perceive uncharted zone again. Yesterday, we had taken a profit from our long positions which were taken near 24000.
Now, the index has realized a rally of 1300 points in less than a month. After a run up like these, prices tend to consolidate. Thus, we may see consolidation or even a correction here. Consequently, swing traders should wait for a next trading opportunity.
Though, Trend is up in Bank Nifty so intraday should look for a buying opportunity on Monday. Avoid short selling.
|ADANIPORTS||382||BUY||Intermediate and Short Term Trend is up in ADANIPORTS. The stock has seen an upside rally and then started trading narrow. Prices have made a pattern of Ascending Triangle. We may see a breakout here. Buy this stock above 383. If this trade executes then place a stop at 378 and a target at 393.|
|TATAMOTORS||464||BUY||Intermediate and Short Term Trend is up in TATAMOTORS. The stock has seen a decline and then made a bullish head & shoulder. We may see a breakout here. Buy this stock above 465. If this trade executes then place a stop at 460 and a target at 475.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|APOLLOTYRE||JULY FUT||BUY||265.5||CMP||250||273||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|M&MFIN.17.07 Jul||398.05||9.47||16.46||9072500||NBCC.17.07 Jul||209.1||-2.79||16.27||4224000|
|IDEA.17.07 Jul||96.6||5.11||4.62||56714000||ZEEL.17.07 Jul||536.4||-2.69||1.03||7685600|
|APOLLOTYRE.17.07 Jul||265.5||4.69||1.88||11544000||SINTEX.17.07 Jul||37.05||-2.63||1.79||21859500|
|VEDL.17.07 Jul||276.1||4.17||0.23||42318500||JETAIRWAYS.17.07 Jul||587||-2.01||2.55||3574800|
|BALKRISIND.17.07 Jul||1669.9||3.1||8.43||426800||PFC.17.07 Jul||125.05||-1.96||5.71||35790000|
|Short covering||Long Unwinding|
|SRTRANSFIN.17.07 Jul||3.87||-12.01||4122000||1001.8||JPASSOCIAT.17.07 Jul||26.85||-2.89||-8.8||1.28E+08|
|CHENNPETRO.17.07 Jul||3.73||-8.72||1131000||398.75||SREINFRA.17.07 Jul||129.3||-2.56||-2.82||6370000|
|TATACOMM.17.07 Jul||3.62||-3.6||7844900||672.55||LUPIN.17.07 Jul||1123.25||-1.84||-1.05||5902800|
|MRPL.17.07 Jul||3.44||-1.72||10539000||123.2||RECLTD.17.07 Jul||178.65||-1.73||-7.45||24822000|
|IBULHSGFIN.17.07 Jul||3.43||-5.48||8260800||1196.6||DIVISLAB.17.07 Jul||678||-1.5||-2.58||6653600|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Vol||Delivery||Del %||% Change|
|GAIL (India) Limited||373.35||-0.97||2936489||2651021||79.42||Nifty Bank||24520.7||0.41||81393|
|Power Grid Corporation o||217||0.12||3438650||2701451||78.25||Nifty IT||10810.35||-0.12||81393|
|Bharat Petroleum Ltd||466.9||0.15||4180442||2016961||77.84||Nifty Pharma||9930.55||-0.5||81393|
|MAX FINANCIAL SERVICES L||613.6||2.46||680133||685826||75.05||Nifty Infrastructure||3380.6||0.33||81393|
|Petronet LNG Limited||205.9||1.65||5934404||3197166||74.95||Nifty PSU Bank||3590||0.73||81393|
|Oil & Natural Gas Corp||163.3||0.03||6521103||7693902||74.02||Nifty Auto||10932.5||-0.33||81393|
|Hero MotoCorp Limited||3709.05||0.45||433381||172608||73.12||Nifty Metal||3227.55||1.26||81393|
|ASIAN PAINTS LIMITED||1150.1||-0.49||2963793||1505778||72.98||Nifty Commodities||3626.75||0.24||81393|
|Colgate Palmolive (India||1066.8||-0.29||239411||224680||72.49||Nifty Financial Services||9958.8||0.32||81393|
UPCOMING ECONOMIC DATA
|•RBI Monetary Policy on 02nd August, 2017.||•Fed Interest Rate Decision on 26th July, 2017.|
|•Bank of Baroda has entered into an agreement with Directorate General of Supplies & Disposal (DGS&D) for extending various banking services to Government e-Marketplace (GeM). DGS&D has been mandated to set up GeM, an initiative intended to bring greater transparency and efficiency in public procurements.
•JSW Cement, which is building about 11 million tonnes of capacity, would seek to about double its output to 20 mt in the next three years, as the increasing spend on infrastructure and housing fuels demand for the commodity of which India is the world’s second-largest consumer.
•Bajaj Auto is likely to partner Europe’s iconic motorcycle brand Ducati, encouraged by its existing partnership with KTM, Europe’s largest motorcycle maker.
•Coal India will conduct auctions under government’s Shakti scheme for entering into long term coal supply contract with some 12,000 mw of independent power producers that have long term power purchase agreements with state distribution companies but does not have coal supply contract.
Source: Economics Times
|Company Name||Purpose||Date||Company Name||Purpose||Date|
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|CARERATING||Dividend – Rs. – 10.0000||24-Jul-17||PAUSHAKLTD||Dividend – Rs. – 3.0000||24-Jul-17|
|CENTENKA||Dividend – Rs. – 7.0000||24-Jul-17||SANGHVIMOV||Dividend – Rs. – 4.0000||24-Jul-17|
|EIHOTEL||Dividend – Rs. – 0.9000||24-Jul-17||TAJGVK||Dividend – Rs. – 0.4000||24-Jul-17|
|ITHL||Dividend – Rs. – 4.2500||24-Jul-17||TCS||Interim Dividend – Rs. – 7.0000||24-Jul-17|
|KSL||Dividend – Rs. – 5.0000||24-Jul-17||THOMASCOOK||Dividend – Rs. – 0.3750||24-Jul-17|
|LUPIN$||Dividend – Rs. – 7.5000||24-Jul-17||TITAN||Dividend – Rs. – 2.6000||24-Jul-17|
|NICCOPAR||Final Dividend – Rs. – 0.1500||24-Jul-17||VSTIND||Final Dividend – Rs. – 75.0000||24-Jul-17|
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