Domestic Market View
Nifty : Index respected previous resistance of 12040, and then crashed 200 points from higher levels, Some big order wrongly punched and then algos created panic of 200 points in nifty. Nifty Support 11830, Resistance 12040, If Nifty break upper or lower levels then expect minimum 70-120 points movement.
Bank Nifty : Support at 31200, Resistance 31750. Movement will be on 6th June ( RBI policy).
Global Market View
US market closed in deep red down 1.30%, European Indexes down by 1% each, Brent Oil down by 5%. Main selling pressure was from Trump Tweet as he said he will Increase mexico tariff by 5%.
Stocks in News
- Escorts : May Month Sales down by 18%.
- Atul Auto : May Month Sales down by 13%.
- Eicher Motors : May Month Sales down by 20% in Commercial Vehicles & 17% in Motor cycles.
- Maruti : May Month Sales down by 22% Sharpest fall in auto sales in last 7 years.
- Tata Motors : May Month Sales down by 26%.
- SML Isuzu : May Month Sales down by 17%.
- Hero Moto : May Month Sales down by 8%.
- M&M : May Month Sales down by 3% (Auto sales) & 16% down in Farm Equipment.
- GDP Growth at 5.8%.
- PNB Housing : ICRA maintained same rating of AA+ but outlook changed to negative.
Stocks For Buying
- SBI : Buy in range of 330-360, Target of 410-440, Stop loss 280 Holding Time frame 6-8 months.
Stocks Near Breakout
- JM Financial : If closes above 96 with Heavy Volume then good for Breakout.
- GHCL : If closes above 272 with Heavy Volume then good for Breakout.
- Edelweiss : If closes above 204 on Daily chart with Heavy Volume then good for Breakout.
- Coal India : If closes above 258 with Heavy Volume then good for Breakout.
- Gail : If closes above 364 with Heavy Volume then good for Breakout.
One Can track our Short/Medium Term shares, all details is there in the attached Excel sheet. Google Drive Tracking sheet.
For all Update about Market & Stocks, you can join my Telegram Channel.
8:35 AM = US futures down by.50%, Brent oil down more than 1%, SGX Nifty indicating 40 points Positive opening.
