Nifty levels:  Nifty spot close @7899

Nifty future close @7897

SYMBOL    S1    S2    PIVOT    R1    R2

NIFTY SPOT    7853    7819    7894    7930    7963

NIFTY FUTURE    7859    7822    7889    7926    7956

Today’s view on Nifty

Every rise will be a selling opportunity, we may see now fresh selling below 7900, and it could fall up to 7720-7650. But do not sell at lows, wait for rise. On dips we may expects short covering.

Bank Nifty levels:

Bank nifty spot close @16739

Bank nifty future close @16723

SYMBOL    S1    S2    PIVOT    R1    R2

BANKNIFTY SPOT    16824    16684    16919    17059    17154

BANKNIFTY FUTURE    16832    16679    16926    17065    17165

View on Banknifty

Sell ban nifty future below 17000we may see 16800-16700 levels in coming days. Above 17000 major resistance will be 17100, only above that we may see fresh buying.

   

MARKET COMMENTERY

Stocks of private banks and index heavyweights ITC and HDFC led gains for key indices. The barometer index, the S&P Sensex, rose 225.23 points or 0.88% at 25,931.16, as per provisional closing data. The 50-unit CNX Nifty rose 70.05 points or 0.89% at 7,899.15, as per provisional closing data. The Sensex and the Nifty remained in positive zone throughout the trading session. Positive lead from global markets aided gains for key equity benchmark indices.

STOCK BUZZ

1. Among PSU banks, Canara Bank (up 2.02%), Punjab National Bank (up 0.59%), Union Bank of India (up 1.03%), Bank of India (up 0.8%), State Bank of India (up 1.35%), Syndicate Bank (up 0.63%) and Bank of Baroda (up 0.69%) gained. Corporation Bank (down 0.63%) and United Bank of India (down 0.48%) edged lower.

2. Yes Bank surged 4.17% on reports that the bank's advance tax payment rose 30% to Rs 310 crore in Q2 September 2015 over Q2 September 2014. Tuesday, 15 September 2015, was the deadline for the payment of the second installment of the advance tax.

HOT PURSUIT

1. In overseas markets, Chinese stocks led gains in Asian markets. In mainland China, the Shanghai Composite jumped 4.89% as fears of forced liquidation of illegal margin trading accounts receded after a widely read news portal in China reported that a notice sent by brokerage GF Securities to a trust firm called Zhongrong International Trust Co. said Zhongrong would still be able to trade on its platform. European stocks edged higher taking cues from a rally in Chinese stocks and tracking broad based gains in US stocks overnight. US stocks witnessed broad-based gains yesterday, 15 September 2015, on speculation that the Federal Reserve will hold off on raising interest rates at its two-day policy meeting which concludes on Thursday, 17 September 2015. Amid a recovery in the US economy, the Federal Reserve policy makers are debating the timing of first interest rate increase in the US in nearly a decade.

2. The market breadth indicating the overall health of the market turned negative from positive in late trade. On BSE, 1,413 shares declined and 1,254 shares rose. A total of 119 shares were unchanged. The BSE Mid-Cap index was down 0.17%. The BSE Small-Cap index was off 0.44%. Both these indices underperformed the Sensex.

OPTION STRATEGY

1. In today’s session we have seen put buying in 7900 and 8000 strike price, we may see 7900 as a strong resistance level in coming days.

2. SBIN 240 and 250 calls and puts were so active, we may see buying above 235 level.

3. HDIL 65/70 calls were so active today, we may see more buying as remain below 58.

STOCKS TO WATCH

SKSMICRO FIN:

Sell SKSMICRO as remain below 460 we may see 440/430 above 460 major resistance will be 475.

VEDANTA:

Keep selling but only on rise 60/50 levels are waiting………

L&T:

SELL L&T below 1590 we may 1520/1490 in coming days.

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