Domestic Market View
Nifty : Nifty & Sensex finally closed above 12000 and 40000 respectively, Nifty as per yesterday Charts if sustain above 12040 then minimum move would be 70-120, it already moved 60 points, now today if Nifty Future come back to 12040 then Buy nifty future with stop loss of 11880 and target would be 12200. Yesterday FII Bought shares worth of 1800 Cr.
Bank Nifty : Bank Nifty under-perform Nifty, no strength was there in Bank Nifty, All waiting for Rate cut, No trade in Bank nifty as it would be high volatile due to RBI Policy, Market is discounting .25 BPS but if there is some surprise then Bank nifty and other rate sensitive will rally. Bank Nifty Support 31250, Resistance 31750.
Global Market View
US Index : S&P, Dowjones closed flat in red, but Nasdaq closed in deep red down by 1.50 % FAANG stocks down by 2-5% because of anti trust probe. Brent oil down more then 1% in yesterday session.
Stocks in News
- Wipro : Announced Buy Back Record Date on 21st June 2019 and Price at Rs 325 Link.
- Biocon : Announced Bonus Issues Record Date on 13th June 2019, 1:1 Ratio Link.
- L&T Technology : Announced Offer for sale, For non retail date is 4th June and for Retail date is 6th June, Floor price is Rs 1650 Link.
- Sovereign Gold Bonds open again for Investment, Those who want to invest in Gold, can contact their brokers, Price fixed at Rs 3196 per gram ( Discount of Rs 50 if you apply online).
- Icici Bank : Fitch Ratings has downgraded ICICI Bank Limited’s Long-Term Issuer Default Rating (IDR) to ‘BB+’ from ‘BBB-‘ and its Viability Rating to ‘bb+’ from ‘bbb-‘. The Outlook on the IDR is Stable.
Stocks For Buying
Edelweiss Financial : Buy in range of 205-190, for target of 235-275, stop loss 140, Holding time frame 4-7 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.
- Coal India : If closes above 262 with Heavy Volume then good for Breakout. ( Yesterday Candle not so promising and volume a bit less, so let’s wait for proper Breakout).
- Gail : If closes above 364 with Heavy Volume then good for Breakout.
- Cesc : Strong Bottom formation going on, On weekly chart for best confirmation we have to wait till 7th June. For medium to long term it would be best to buy and hold. Minimum close above 770 require for Breakout confirmation. Target will be 840-900-950.
- Indian Hotel : If closes above 160-162 with heavy volume then good for Breakout.
8:20 AM SGX down by 30 points, US market stable in early session, Brent oil flat, Asian peers down by .30%
One Can track our Short/Medium Term shares, all details is there in the attached Excel sheet. Google Drive Tracking sheet.
*Tomorrow Holiday Because of Id-Ul-Fitr (Ramzan ID). So No Daily report will be there.
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