Market gains for the third consecutive week; Sensex managed to closed above 28000 mark.
Markets head near their two and half month closing highs before the outcome of Greek referendum that will be held on Sunday, gains led by Banks/Financial stocks after RBI Governor (Raghuram Rajan) stated that there is a growth revival in the economy and pick up in investment.
Sensex closed above the 28000 mark this week’s gain 146 points to end at 28092 on the other hand Nifty managed to closed above the 8450 mark at 8484 gains 40 points.
HEADLINES FOR THE DAY:
- MTNL locked with upper circuit today on delisting buzz.
- SSWL moved higher after reported strong June sales number.
- Bajaj Finance hits fresh high on NSE on the back of huge trading volumes.
- Metals stocks dips on the back of slowdown in the Chinese economy.
- Larsen & Toubro moved higher as the company builds first steam generator.
- Sunil Hitech gains and lock with 20 percent upper circuit on the back of huge trading volumes.
- DB Realty surged on the positive news that companies join hands with Radius.
KEY STOCKS FOR THE DAY:
- Lupin shares rise on the positive news flow of acquisition of Russian drug firm Biocom.
- Rajesh Exports hits new high after gets nod from board for acquisition in Europe.
- BHEL moved higher company completes renovations, modernization and upgrade of its Plant in UP.
- Shoppers Stop gains as much as after said that company is opening new store in Meerut’s Shopprix Mall.
- Jubilant Foodworks gains and hits fresh, high after rating agency BoAML (Bank of America Merrill Lynch) upgrade stock target and maintain Buy rating.
- Shares of ABB India moved higher on fund raising plan through (non-convertible debentures) NCDs.
- Sun Pharma gains and ends on a flat to positive note as company to optimize manufacturing network.
- Essar Oil gains in early trades on the news of price cut in Saudi crudes.
- GSFC gains in an early trade as the company plans to invest Rs 10000 crore in new projects.
- Tata Motors dips in an otherwise market in weak JLR sales during the month of June.
CALLS FOR TOMORROW:
- In Arvind Ltd EQ daily charts consolidation could be seen, buying opportunity is possible if able to break 276.10 level and sustain above it. Buy above 276.10 targets 278.80/281.60/284.50 maintain SL of 273.
- Cox and Kings EQ showed good recovery from lower level, more buying is expected from the current level buy above 263.30 targets 265.90/268.60/271.30 SL 260.50.
- Biocon is heading towards its important resistance i.e. of 478.50. In daily charts, strong trend line could be seen which indicates more buying from current levels if sustain above it. Buy above 478.50 targets 488/497.80 maintain SL of 468.50.
Support & Resistance of Biocon – Its next resistance seen near around 495.70, immediate support could be seen 458.
- Ambuja Cement EQ is trading near around its 100 DMA and important resistance also seen in daily charts. As well as more conformation getting from Trend line which could be seen in weekly chart as well as a big bullish candle indicates more buying from here. Buy above 244.70 targets 249.60/254.60 maintain SL of 239.50.
Support & Resistance Level of Ambuja cement – Its next support seen near around 235.80-232.90 while the next resistance seen at 253.25.
- In the global front, China shares fall as selling pressure could be seen in Gas, Water & Multiutilities, Retailers and Utilities which led the equity market on the lower side.
- Australia shares fell as compared to yesterday close led by Energy, Resources and Gold sector stocks.
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