Domestic Market View
Nifty : As per the Yesterday Report, Nifty tried to come near 12k level, but there was no more thrust left in nifty after it mark down 11960, so it’s look like it will touch new high again but Bulls have to do more work now. No Major news in market till 30th May, so next 2-3 days will be consolidation range of 150 Rs Up/Down. I am expecting Monthly expiry above 12k.
- FII Bought 1215 Cr. cash stocks ( Good for more rallies in coming days).
- Govt. 100 Days agenda to start reforms in all departments. Mainly focus on Agriculture and Food Processing & Chemical sector.
- Midcaps/Small cap rally will continue for 2-3 more days.
Bank Nifty : As per Yesterday Reports, Bank nifty hit 32500, and now it is at ATH closing. Aiming for 32k on expiry day. Again Bank nifty is at uncharted territory, so we have to play with round off marks now only, Near Resistance at 32000, support at 31440-280. I am expecting monthly expiry at 32k.
Global Market View
US market was closed Yesterday. Brent rallied by 1.70% and closes at $68.68, If it sustain above $70, then it’s a short term bad news for emerging market. China will not bend in negotiation of trade talks.
Stocks Result
- Adani Ports : Good Result, Result Link : Adani Ports Dividend or share buy-back announcement on 4th June 2019.
- Natco Pharma : Bad Result, Result Link : Natco Pharma Dividend of Rs 1.25 per share.
- Future Enterprises : Good Result, Result Link : Future Enterprises No Dividend.
- Indigo : Good Result, Result Link : Indigo Dividend of Rs 5 Per share.
- Zeel : Not so Good Result, Result Link : Zeel Dividend of Rs 3.50 Per share.
Stocks in News
- Manpasand will continue to hit lower circuit today also.
- Today Result : PNB, Sunpharma, Nmdc, Auropharma, Infoedge, Irb Infra, Spicjet.
- Reliance capital to sell “Big FM Radio” to Music Broadcast, will use the money to reduce debt.
- 231 Stocks hit Upper circuit yesterday, more rallies will be there.
Stocks For Buying
- HDFC Life Buy in range of 423-415, good for next 3-5 months, Overall company is good for holding, Stop loss 375, for target 460-480.
2. KEC International Buy in range of 324-314, for target upto 355-375, stop loss 270. Hold for next 3-5 months.
One Can track our Short/Medium Term shares, all details is there in the attached Excel sheet. Google Drive Tracking sheet.
Stocks Near Breakout
- Manappuram Buy in range of 129-132 for Retesting Trade, If price come down to 129-132 then I will update in my Telegram channel.
- GHCL Near Breakout, add in watch-list.
- Advanced Enzyme Near Breakout, add in watch-list.
8:30 AM, US Futures up by .30% & Asian Market in some green range after some news of Trade talk.
