Nifty levels:  

Nifty spot close @8360
Nifty future close @8376

Today’s view on Nifty

Good recovery from lower level, as we have already said keep buy on dips, we may good buying in coming days.   

Bank Nifty levels:  
Bank nifty spot close @18719
Bank nifty future close @18778

View on Banknifty  

Bank nifty closed around its resistance level around 18700 so remain above that buying opportunity.

MARKET COMMENTERY

Key benchmark indices logged modest gains on last trading day of the week. high intraday volatility was witnessed throughout the day as the key indices alternately swung between positive and negative zone. The Sensex was provisionally up 87.74 points or 0.32% at 27,661.40. The market breadth indicating the overall health of the market was positive. Global stocks rose after Chinese equities rebounded for a second day and Greece submitted a bailout plan, easing concern that the two countries' crises could infect global markets.

STOCK BUZZ
1. Cipla rose 1.29%. Cipla announced after market hours yesterday, 9 July 2015, that its board approved divestment of its consumer healthcare business to a wholly-owned subsidiary (proposed to be incorporated) on a going-concern basis by way of a slump sale for a consideration of Rs 10.5 crore.

2. Aurobindo Pharma rose 0.04%. Aurobindo Pharma said that the shareholders at the extraordinary general meeting of the company held on 9 July 2015 approved issue of one bonus equity share for every one equity share held in the company as on the record date. The announcement was made after market hours yesterday, 9 July 2015.

HOT PURSUIT
1. The government of Greek Prime Minister Alexis Tsipras sought a three-year bailout loan of at least 53.5 billion euros ($59.2 billion), in a last-ditch effort to keep the country in the euro. The details emerged after US markets closed yesterday, 9 July 2015. In exchange, it offered a package of reforms and spending cuts, including pension savings and tax increases, similar to the one presented by creditors last month. The proposal was submitted to European institutions late yesterday, 9 July 2015 and will be presented to the Greek Parliament today, 10 July 2015. It is set to be discussed at a summit of European Union leaders on Sunday, 12 July 2015 to determine whether Greece gets a new bailout, or be forced to leave the single currency.

2. Trading in US index futures indicated that the Dow could surge 163 points at the opening bell today, 10 July 2015 after Greece submitted a reform package, the details of which emerged after US markets closed yesterday, 9 July 2015. US stocks closed with modestly gains yesterday, 9 July 2015 as Chinese equities rebounded the most since 2009, easing concern over economic growth. Shares pared an early rally as Greece approached a deadline for securing a bailout.

OPTION STRATEGY

1. In today’s session we have seen call buying in nifty 8500 call so we can consider this as a strong resistance.

2. CROMPTON 180 & 190 CALLS were so active, stock is really in bullish move more rally is expected up to 190. 

3. ONGC 280 PUTS were in action today, stock showed us short position from upper level, more selling below 300. 

STOCKS TO WATCH

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

1. BUY RELIANCS ABOVE….? TGT…..?STOP LOSS……?
2. BUY ICICI BANK ABOVE…..?...TARGET….?..STOPLOSS…?
3. SELL VOLTAS BELOW….? STOCK MAY SHOW 290/280 LEVEL IN COMING DAYS WITH STOP LOSS…?