Daily Market Report 10th June 2019

Domestic Market View

Nifty : Nifty recovered 100 points from days low and closed in Green mark on Friday trading session, Today Resistance at 11960-12000, Support at 11810-11770.

Bank Nifty : Bank Nifty Bounced from 31st May Panic Low of 30650, Resistance 31350-31500, Support 30800-30650.

Both Index will open Gapup, So Buying at open not a good way of trading, Wait for dips in morning session then take your trades.

Global Market View

US Index Closed with 1% gain on Friday, Trump Suspended Trade tariff on Mexico now they are focusing on China Trade talk, Brent oil jump by $1.5, Fed Policy next week (18- 19 June) so people are anticipation a Rate cut.

Stocks in News

1. Reliance Power : Bad Result Link, Already in Garbage Company list from 2016. This is the last Expiry of Rpower, it will be out of FNO from July Expiry.
2. Reliance Infra: Result postponed again, now they will announce Result on 14th June Link. Already in Garbage Company list from 2016, Garbage List Link
3. DFHL : Made some payment to NCD interest, Link. They Defaulted on Interest Payment on 4th June.
4. RBI Issues new circular on Defaulting Companies. Link Good For Banks.
5. SBI : Repo Rate linked home loan from  1st June.
6. Mindtree : L&T to acquire 31% stake in Mindtree though open offer, offer open starts 17th June. Link

Stocks For Buying

CESC : Buy in range of 770-730 for target of 840-930, Stop loss of 640, Time frame for holing is medium term 6-9 months. Volatility in this stock is at the lowest level. Confidence level high, but holding period is also high so this Buy is only for people who can wait patiently for next 6-9 months.

Stocks Near Breakout

1. Nestle : If closes above 11750 with Heavy Volume then it’s a good Breakout.
2. Raymond : If closes above 870 with Heavy Volume then it’s a good Breakout.
3. JM Financial : If closes above 96 with Heavy Volume then it’s a good Breakout.
4. GHCL : If closes above 272 with Heavy Volume then it’s a good Breakout.
5. Gail : If closes above 364 with Heavy Volume then it’s a good Breakout.
6. Indian Hotel : If closes above 160-162 with heavy volume then it’s a good Breakout.

One Can track our Short/Medium Term shares, all details is there in the attached Excel sheet. Google Drive Tracking sheet.

8:20 AM : SGX Nifty up by 60 points, Asian peers also in green mark, US Index Future flat with Positive mark, No major fluctuation Globally, Banking would be a good sector for Rally today because of RBI Notice.

Reliance Capital : The Financial hub of Adag group, Circus gonna bust soon, In garbage list from 2016, Auditors raising Issues now, they were sleeping in last 3-4 years, Replica of IL&FS game.  

Other ways to connect to us.

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