Nifty levels:
Nifty spot close @8129
Nifty future close @8157
Today’s view on Nifty
Consolidation from upper level we have seen today, though buying opportunity on every dip. We may see 8225 level as a next resistance level, more buying will be seen from this level.
Bank Nifty levels:
Bank nifty spot close @17474
Bank nifty future close @17542
View on Banknifty
Selling opportunity below 17700, we may see 17400/17350 level, above 177700 we may see 17850 as a strong resistance level.
MARKET COMMENTERY
Private sector banks, auto and pharma sector stocks and index heavyweights ITC and Reliance Industries led losses for key benchmark indices which languished in red almost throughout the trading session. The barometer index, the S&P BSE Sensex, dropped 182.35 points or 0.68% at 26,853.32, as per the provisional closing data. The 50-unit CNX Nifty declined 48.05 points or 0.59% at 8,129.35, as per the provisional closing data. The Sensex provisionally settled below the psychological 27,000 mark. Modest gains had helped the Sensex reclaim the psychological 27,000 mark yesterday, 7 October 2015.
STOCK BUZZ
• Tata Power Company declined 0.43%. The company announced that it has launched a LED tube light program for its residential consumers in Mumbai to encourage them to adopt energy efficient lights, thereby saving power. The company announced during market hours today, 8 October 2015. Under this programmer, each residential consumer is eligible to procure 5 LED tube lights fittings at a price of Rs 525 each, against a market price of Rs 1325 each.
• Cipla slipped 0.32%. The company announced that its South African subsidiary Cipla Medpro (Pty) Ltd. has entered into an exclusive agreement with the world's largest vaccine manufacturer, Serum Institute of India (SII) in South Africa to supply of vaccines in South Africa. SII manufactures a variety of vaccine classes including vaccines for Polio, Diphtheria, Tetanus, BCG (Tuberculosis), Hepatitis B, Measles, Mumps and Rubella. South Africa will be participating in the majority of these portfolios. Cipla Medpro has exclusivity and first right of refusal of the SII pipeline within South Africa.
HOT PURSUIT
1. Mahindra & Mahindra (M&M) declined 0.98%. The company announced during market hours today, 8 October 2015, that global credit rating agency Moody's Investors Service has assigned Baa3 foreign currency and local currency issuer rating with stable outlook to the company. The rating reflects M&M's diversified business profile, leading market position in India, long track record of successful operations, strong corporate governance practices, financial flexibility and conservative financial policies.
2. Rajesh Exports rose 1.85% after the company said it has secured an export order worth Rs 1360 crore of designer range of gold and diamond studded jewellery and medallions from UAE. The company announced the new order during market hours today, 8 October 2015. Rajesh Exports said that the execution of its latest export order will significantly add to the bottom line of the company.
OPTION STRATEGY
1. In today’s session we have seen call buying in 8100 and 8200 strike price, we may see 8200 as a strong resistance level in coming days.
2. RELIANCE 900 and 920 calls and puts were so active, we may see buying above 900 level.
3. INFOSIS 1160 puts were so active today, we may see more selling below 1160.
STOCKS TO WATCH
MARUTI:
SELL MARUTI AS REMAIN BELOW 4400 WE MAY SEE 4200/4100 IN COMING DAYS.
ONGC:
Buy ONGC above 250 level we may see 270/280, below 250 major support will be 242.
GAIL:
Sell GAIL as remain below 310 we may see 300/290 level in coming days.
Nifty spot close @8129
Nifty future close @8157
Today’s view on Nifty
Consolidation from upper level we have seen today, though buying opportunity on every dip. We may see 8225 level as a next resistance level, more buying will be seen from this level.
Bank Nifty levels:
Bank nifty spot close @17474
Bank nifty future close @17542
View on Banknifty
Selling opportunity below 17700, we may see 17400/17350 level, above 177700 we may see 17850 as a strong resistance level.
MARKET COMMENTERY
Private sector banks, auto and pharma sector stocks and index heavyweights ITC and Reliance Industries led losses for key benchmark indices which languished in red almost throughout the trading session. The barometer index, the S&P BSE Sensex, dropped 182.35 points or 0.68% at 26,853.32, as per the provisional closing data. The 50-unit CNX Nifty declined 48.05 points or 0.59% at 8,129.35, as per the provisional closing data. The Sensex provisionally settled below the psychological 27,000 mark. Modest gains had helped the Sensex reclaim the psychological 27,000 mark yesterday, 7 October 2015.
STOCK BUZZ
• Tata Power Company declined 0.43%. The company announced that it has launched a LED tube light program for its residential consumers in Mumbai to encourage them to adopt energy efficient lights, thereby saving power. The company announced during market hours today, 8 October 2015. Under this programmer, each residential consumer is eligible to procure 5 LED tube lights fittings at a price of Rs 525 each, against a market price of Rs 1325 each.
• Cipla slipped 0.32%. The company announced that its South African subsidiary Cipla Medpro (Pty) Ltd. has entered into an exclusive agreement with the world's largest vaccine manufacturer, Serum Institute of India (SII) in South Africa to supply of vaccines in South Africa. SII manufactures a variety of vaccine classes including vaccines for Polio, Diphtheria, Tetanus, BCG (Tuberculosis), Hepatitis B, Measles, Mumps and Rubella. South Africa will be participating in the majority of these portfolios. Cipla Medpro has exclusivity and first right of refusal of the SII pipeline within South Africa.
HOT PURSUIT
1. Mahindra & Mahindra (M&M) declined 0.98%. The company announced during market hours today, 8 October 2015, that global credit rating agency Moody's Investors Service has assigned Baa3 foreign currency and local currency issuer rating with stable outlook to the company. The rating reflects M&M's diversified business profile, leading market position in India, long track record of successful operations, strong corporate governance practices, financial flexibility and conservative financial policies.
2. Rajesh Exports rose 1.85% after the company said it has secured an export order worth Rs 1360 crore of designer range of gold and diamond studded jewellery and medallions from UAE. The company announced the new order during market hours today, 8 October 2015. Rajesh Exports said that the execution of its latest export order will significantly add to the bottom line of the company.
OPTION STRATEGY
1. In today’s session we have seen call buying in 8100 and 8200 strike price, we may see 8200 as a strong resistance level in coming days.
2. RELIANCE 900 and 920 calls and puts were so active, we may see buying above 900 level.
3. INFOSIS 1160 puts were so active today, we may see more selling below 1160.
STOCKS TO WATCH
MARUTI:
SELL MARUTI AS REMAIN BELOW 4400 WE MAY SEE 4200/4100 IN COMING DAYS.
ONGC:
Buy ONGC above 250 level we may see 270/280, below 250 major support will be 242.
GAIL:
Sell GAIL as remain below 310 we may see 300/290 level in coming days.
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