Nifty levels: 
Nifty spot close @8275
Nifty future close @8274

Today’s view on Nifty

Selling opportunity only below 8000 level, before that every dip will be a buying opportunity, nifty moving toward 8350-8400.

Bank Nifty levels:
Bank nifty spot close @17855
Bank nifty future close @17870

View on Banknifty

Fantastic recovery from lower level, we may see 18250-18500 level in coming days, no sell only buy on dips.

MARKET COMMENTERY

Post result rally for index heavyweight Reliance Industries (RIL) and gains for another index heavyweight Infosys and pharma stocks helped key benchmark indices register modest gains. The barometer index, the S&P BSE Sensex, rose 141.54 points or 0.52% to 27,356.14, as per the provisional closing data. The 50-unit CNX Nifty rose 36.90 points or 0.45% at 8,275.05, as per the provisional closing data. The trigger for the latest upmove for Indian stocks was an announcement from the finance ministry that it is seeking the views of foreign portfolio investors (FPIs) on measures to simplify the procedures and documentation for registration of FPIs in India.

STOCK BUZZ
1. RIL surged after stronger-than-expected Q2 September 2015 results. The stock rose 5.42% at Rs 961.60. The stock hit a high of Rs 965.20 and a low of Rs 941.60 in intraday trade. RIL's consolidated net profit rose 12.52% to Rs 6720 crore on 33.8% decline in turnover to Rs 75117 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours on Friday, 16 October 2015. A strong showing of the refinery business and increase in profit margins of the petrochemicals business led to a stronger-than-expected growth in RIL's bottom line in Q2 September 2015. RIL's gross refining margins (GRM) hit a seven year high of $10.6 per barrel in Q2 September 2015. The GRM was $8.3 per barrel in Q2 September 2014. The profitability of the petrochemicals business improved due to a combination of strong volume growth, product mix improvement and lower energy costs.
2. Aviation stocks surged after InterGlobe Aviation, the operator of low cost passenger airline IndiGo, announced that its initial public offer (IPO) will open for bidding on 27 October 2015. SpiceJet was locked at 10% upper circuit at Rs 47.55 on BSE. Jet Airways (India) surged 9.35%. The IPO of InterGlobe Aviation comprises of fresh issue of equity shares aggregating Rs 1272.20 crore and offer for sale of up to 2.61 crore shares by existing shareholders of the company. The price band for the IPO has been set at Rs 700 to Rs 765 per share. The IPO is scheduled to close on 29 October 2015. IndiGo operates as a low-cost carrier or LCC business model and focuses primarily on the domestic Indian air travel market.

HOT PURSUIT
1. UltraTech Cement fell in volatile after the company announced second quarter results. The stock shed 1.69% to Rs 2,905. The stock hit high of Rs 2,995 and low of Rs 2,886.05 in intraday trade. The company's consolidated net profit rose 3.14% to Rs 427 crore on 4.02% rise in net sales to Rs 5951 crore in Q2 September 2015 over Q2 September 2014. The result was announced during market hours today, 19 October 2015. UltraTech Cement's profit before interest, depreciation and tax rose 11.75% to Rs 1103 crore in Q2 September 2015 over Q2 September 2014.
2. The market breadth indicating the overall health of the market was positive. On BSE, 1,569 shares rose and 1,154 shares fell. A total of 161 shares were unchanged. The BSE Mid-Cap index provisionally rose 0.69%. The BSE Small-Cap index provisionally rose 0.77%. Both these indices outperformed the Sensex.

OPTION STRATEGY

1. In today’s session we have seen call buying in 8000 and 8100 strike price, we may see 8200 as a strong support level in coming days.

2. DRREDYS 4200 and 4300 calls were so active we may see buying as remain above 4200.

3. IDEA 160 puts were so active today, we may see more selling below 160.

STOCKS TO WATCH

TATAMOTORS:
BUY TATAMOTORS AS REMAIN ABOVE 370 WE MAY SEE 400/410 LEVEL IN COMING DAYS.
ONGC:
Buy ONGC above 250 level we may see 270/280, below 250 major support will be 242.
AMBUJA CEM:
Sell AMBUJA as remain below 215 we may see 205/195 level in coming days.
 Top PICKS OF THE DAY

1. HINDALCO ABOVE….? TGT…..?STOP LOSS……?
2. SELL ICICI BANK BELOW…..?...TARGET….?..STOPLOSS…?
3. SELL ONGC BELOW….? STOCK MAY SHOW 190/210 LEVEL IN COMING DAYS WITH STOP LOSS…?

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Nifty levels:

Nifty spot close @8238
Nifty future close @8262

Today’s view on Nifty

Selling opportunity only below 8000 level, before that every dip will be a buying opportunity.

Bank Nifty levels:
Bank nifty spot close @17912
Bank nifty future close @18002

View on Banknifty

Fantastic recovery from lower level, we may see 18250-18500 level in coming days, no sell only buy on dips.

MARKET COMMENTERY

Gains in private sector banks, auto stocks and index heavyweights L&T, HDFC and Reliance Industries (RIL) helped key benchmark indices register decent gains. The barometer index, the S&P BSE Sensex, surged 214.56 points or 0.79% at 27,224.70, as per the provisional closing data. The 50-unit CNX Nifty rose 58.65 points or 0.72% at 8,238.15, as per the provisional closing data. The two key benchmark indices witnessed a sudden surge during the latter part of the trading session after languishing in red until about 14:00 IST. The Sensex provisionally settled above the psychological 27,000 level. Earlier, the Sensex had fallen below that level after initial slide. The Sensex had finished a tad above the psychological 27,000 level yesterday, 15 October 2015, after registering decent gains.

STOCK BUZZ
1. Among PSU banks, IDBI Bank (up 3.3%), State Bank of India (up 3.19%), United Bank of India (up 0.67%), Syndicate Bank (up 0.21%), Punjab National Bank (up 0.69%) and Corporation Bank (up 0.33%) gained. Canara Bank (down 0.18%), Bank of Baroda (down 0.53%) and Union Bank of India (down 1.38%) declined.
2. Shares of public sector oil marketing companies (PSU OMCs) edged higher after raising diesel prices. BPCL (up 1.96%), HPCL (up 2.17%) and Indian Oil Corporation (IOCL) (up 1.46%) gained. IOCL has announced increase in the retail selling price of diesel by 95 paise per litre at Delhi (including state levies) with corresponding price revision in other states. With the latest revision, the price of diesel in Delhi stood at Rs 45.90 per litre.

HOT PURSUIT
1. Meanwhile, data released by the government after market hours yesterday, 15 October 2015, showed that India's merchandise exports declined for tenth straight month in September 2015. Merchandise exports dropped 24.3% to $21.85 billion in September 2015 over September 2014. Imports dipped 25.4% to $32.32 billion. The trade deficit narrowed 27.6% to $10.5 billion in September 2015 from $14.47 billion in September 2014.
2. Positive lead from overseas markets aided the up move on the domestic bourses. European stocks edged higher after a lackluster reading on US consumer prices strengthened the view that the US Federal Reserve may continue to hold off on raising interest rates during the remaining part of the calendar year 2015. In Asia, Chinese and Japan stocks edged higher on stimulus hopes in those countries in the wake of recent weak economic data. US stocks surged yesterday, 15 October 2015, as falling US consumer prices added to the batch of disappointing economic data that reduces the odds of an interest-rate increase this year from the Federal Reserve.

OPTION STRATEGY

1. In today’s session we have seen call buying in 8000 and 8100 strike price, we may see 8200 as a strong support level in coming days.
2. DRREDYS 4200 and 4300 calls were so active we may see buying as remain above 4200.
3. IDEA 160 puts were so active today, we may see more selling below 160.

STOCKS TO WATCH

TATAMOTORS:
BUY TATAMOTORS AS REMAIN ABOVE 370 WE MAY SEE 400/410 LEVEL IN COMING DAYS.
ONGC:
Buy ONGC above 250 level we may see 270/280, below 250 major support will be 242.
AMBUJA CEM:
Sell AMBUJA as remain below 215 we may see 205/195 level in coming days.

Top PICKS OF THE DAY

•    HINDALCO ABOVE….? TGT…..?STOP LOSS……?
•    SELL ICICI BANK BELOW…..?...TARGET….?..STOPLOSS…?
•    SELL ONGC BELOW….? STOCK MAY SHOW 190/210 LEVEL IN COMING DAYS WITH STOP LOSS…?

Nifty levels:  Nifty spot close @8107
Nifty future close @8120

Today’s view on Nifty

Selling opportunity only below 8000 level, before that every dip will be a buying opportunity.

Bank Nifty levels:
Bank nifty spot close @17543
Bank nifty future close @17585

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

Losses for TCS and Hindustan Unilever (HUL) after the announcement of second quarter earnings pulled key benchmark indices lower. The barometer index, the S&P BSE Sensex, fell 69.31 points or 0.26% to 26,777.22, as per the provisional closing data. The 50-unit CNX Nifty dropped 23.80 points or 0.29% at 8,107.90, as per the provisional closing data. Key benchmark indices declined for the third straight trading session.

STOCK BUZZ
1. TCS dropped after the company's top management indicated at a post Q2 result conference call that the company continues to face issues in its UK based business process outsourcing subsidiary Diligenta and in the Japan region and expects it to continue over the next two quarters at least. HUL dropped after reporting a muted growth in bottom line after adjusting for exceptional items.
2. HUL dropped after reporting a muted growth in bottom line after adjusting for exceptional items. The stock lost 2.26% to Rs 794. HUL's net profit before exceptional item rose 1.4% to Rs 970.31 crore in Q2 September 2015 over Q2 September 2014. HUL said that the the phasing out of excise duty incentives and fall in product prices adversely impacted the company's performance in Q2 September 2015. The company reduced product prices in a bid to pass on the benefit of lower commodity costs to consumers.

HOT PURSUIT
1. Shares of state-run coal mining giant Coal India (CIL) were off 1.72% at Rs 334.65 after the Union Cabinet approved the recommendations of the Committee of Secretaries to regularize the 2007 pay revision implemented by CIL with effect from 1 January 2007 in the loss making subsidiaries. This is being allowed as a special dispensation to CIL. The Cabinet also approved the payment of performance related pay (PRP) to executives and non-unionised supervisors of CIL and its subsidiaries. The payment would be out of the corpus created by pooling the profits of CIL subsidiary companies, duly setting off the losses of the loss making subsidiaries and stand-alone profits of CIL, excluding dividends received from its subsidiary companies.

2. On the macro front, the latest data showed that the annual rate of inflation based on monthly wholesale price index (WPI) stood at negative 4.54% (provisional) for September 2015 as compared to negative 4.95% (provisional) in August 2015. The Reserve Bank of India's (RBI) main inflation gauge which is the consumer price index accelerated last month, as per data released by the government early this week.

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. DRREDYS 4200 and 4300 calls were so active we may see buying as remain above 4200.

3. IDEA 160 puts were so active today, we may see more selling below 160.

STOCKS TO WATCH

MARUTI:
SELL MARUTI AS REMAIN BELOW 4300 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.
AMBUJA CEM:
Sell AMBUJA as remain below 215 we may see 205/195 level in coming days.
 Top PICKS OF THE DAY

•    HINDALCO ABOVE….? TGT…..?STOP LOSS……?
•    SELL ICICI BANK BELOW…..?...TARGET….?..STOPLOSS…?
•    SELL ONGC BELOW….? STOCK MAY SHOW 190/210 LEVEL IN COMING DAYS WITH STOP LOSS…?