Domestic Market View
Nifty : Nifty down 100 points on friday Due to sudden spike in Crude, Now it will be in range of 11630-11830. Upside resistance of 11830-850 not easy to break as there are many call writers in range of 11800-12000. Support is near 11630-11600, and If Nifty break and sustain below 11600 then aim for 11400 in nifty. 11600 is critical zone for nifty. Overall Formation of Bearish Channel is going on. So Better to wait for a closing above 11850 for more higher target of 12000-12100.
Support at 11675-11600 & Resistance 11780-11850. FII Sold shares worth Rs 730 Cr. and DII Bought Shares worth Rs 445 Cr. VIX at 14.61.
Call Writers at Higher Call and Formation of Bearish Channel means market will take some more time for showing Breakout for upside, till then it will consolidate in range of 11850-11630.
Bank Nifty : Support at 30480-30250 & Resistance 30800-31000.
Global Market View
US Index Closed with small Negative marks, Brent near $65 as Tension mounts on Iran-US wars, G-20 meeting from 28-29 June. Asian peers at no moving zone, All waiting for G-20 meetings.
Stocks in News
- IndusInd Bank : Hindujas to Hike stake in Bank, to infuse 2700 Cr. Warrants at rate of 1700 per share.
- Bhel : Got order worth Rs 840 Cr. Link
- Bharat Financial Inclusion : Trading will stop from 3rd July. As it will merge into IndusInd Bank.
- IndiaMart Intermesh : IPO Application starts from today, Price Range 970-973.
- Tata Steel : Fitch affirms BB rating with a stable outlook.
- Star Cement : Approved BuyBack of Rs 102 Cr. at Price of Rs 150 through Tender offer route Link
- Kabra Extrusion : Crisil Downgraded Long term Rating from “A+/Negative” to “A/Stable”. Link
- NTPC: Fitch affirms rating at BBB- with a stable outlook.
Change in Circuit Limits
| Sr. No. | Scrip Code | Scrip Name | Price Band % Revised to |
| 1 | 533208 | Emami Paper Mills Ltd | 10 |
| 2 | 590070 | Radaan Mediaworks India Ltd | 10 |
| 3 | 531273 | Radhe Developers India Ltd | 5 |
| 4 | 532719 | B. L. Kashyap and Sons Ltd | 5 |
| 5 | 532845 | TGB Banquets and Hotels Ltd | 5 |
| 6 | 531613 | Meyer Apparel Ltd | 2 |
| 7 | 530309 | Chandra Prabhu International Ltd | 2 |
One Can track our Short/Medium Term shares, all details is there in the attached Excel sheet. Google Drive Tracking sheet.
8:00 AM : SGX Indicating flat opening, US futures in slight green mark, Brent near % 64.60 levels, above 65 then its a bad for Our Market. Asian Peers also in small green mark.
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