MARKET SUMMARY FOR 10 JULY 2015

After a rangebound trading session, markets gained momentum in the late trades on improved prospects for a deal to keep Greece in the currency area at a weekend summit of European leaders. A firm rally in the Capital Goods shares on expectations of higher industrial growth in May lifted the sentiments. Provisionally, the Sensex gained 70 points to end at 27,644 levels and the Nifty climbed 28 points to end at 8,357 mark The index continues to be weak but the downward momentum seems to be waning, we can expect a corrective rally. Immediately, the 8335-mark is important for its acts as the initial test level for the bulls. The most critical levels for the day, however, rest between 8362 and 8384—this zone is the most potent supply zone, which would test the abilities of both the bears and the bulls, whichever party wins the contest would set the direction of the market. However, to qualify for the contest, the bulls would need to pass the first qualifying round at the level of 8335. In case the bulls fail again, sub-8300 levels in the Nifty would come into being.

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PREOPENING OF MARKET FOR 9JULY0215

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Rupee plunges to 1-week low vs. dollar; falls 14 paisa to 63.60

Nifty Seen Opening Flat; 

Down Jones 261 Points Down 17,515

Nikkei 135 Points down 19,602

Hang Sang 774 Points Up24, 290

MARKET SUMMARY FOR 8 JULY 2015

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The Sensex plunged by 484 points or 1.7% at 27,687 and the Nifty settled below the 8,400 mark at 8,363, down 147 points or 1.7%. Continuing its slide, the Sensex in mid-session tanked over 500 points and the Nifty cracked the 8,400-mark after Chinese shares extended rout and fears of Greek eurozone exit hit trading sentiment. Reflecting steep fall in blue-chips, the 30-share index which dipped below the crucial 28,000-mark in early trade, continued to slide and tumbled by 504 points or 1.79 per cent to 27,667. during mid-session, with all the sectoral indices led by metal and auto, falling up to 4.14 per cent. After Greece comes China, the latter’s securities market regulator says, “there is a panic like sentiment in Chinese stock market”. Base metals have crashed through the floor: nickel down 10% first time in quite a few years. The good thing is that bourses like Hong Kong are showing some recovery over the last 30 minutes as we write this Market Outlook; however, the SGX July Nifty shows further weakness—down by 85 points at 8441. The most critical level for the day is placed at 8480 for the index remaining below this level would mean fresh weakness surfacing and if at any stage the 8420 through 8390 support area is taken out it would show greater weakness. Now, we need to take out 8530 on closing price basis to resume the uptrend. However, till such time the index falls below 8350 on closing price basis on high volume activity and large position building, the bulls might again try to stage a bounce back. The markets went into a tailspin today as the meltdown in Chinese markets had a domino effect on Asian bourses, including India. The lingering uncertainty on the Greece front also kept the market participants on the edge.
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WORLD MARKET UPDATES FOR 8 JULY2015

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Rupee ends 6 paise down at 63.46 vs dollar

Nifty Seen Opening Flat

Down Jones 93 Points Up 17,776

Nikkei 309 Points Down 20,067

Hang Sang 107 Points Down 23,873

MARKET SUMMARY FOR 07 JULY 2015

 

MARKET SUMMARY FOR 07 JULY 2015

The market ended marginally lower after consolidation. The Sensex was down 37 points at 28171 and the Nifty slipped 11 points at 8510. About 1670 shares advanced, 1153 shares declined, and 157 shares were unchanged. Vedanta, NTPC, Hindalco, Hero Motocorp and ONGC were major laggards while Coal India, HDFC, SBI, Wipro and Sun Pharma were top gainers in the Sensex. Continuing its winning run for the third straight session, Sensex gained over 122 points in early trade today on sustained across-the-board buying by participants amid a rebound in Asian markets. Indian market has an uncanny knack of mostly correctly anticipating the movement in the US market especially on the day’s market there would show a reverse upswing. It exactly panned out that way while the Dow might have closed 46 points down but it recovered well from the day’s low. The sentiment this morning in Asia is quite positive but the SGX July Nifty is trading down by just 2.5 points at 8531 as we write this Market Outlook. Chances are we would see higher Nifty levels of 8550 getting tested in today’s session. It is now entering the most critical supply zone that lies between 8550 and 8596-once this range is decisively taken out we can expect levels of even 8700 coming to the fore; however, we first need a decisive breakout above the 8550 – 8600 range. Till such time the Nifty does not fall below 8493 on sustainable basis, the bulls would not have to bat an eyelid in retaining their advantage.
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PREOPENING OF MARKET FOR 7JULY0215

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Rupee ends day @ 63.39 against dollar

Nifty Seen Opening Flat; May reclaim 8550 levels

Down Jones 46 Points Down 17,683

Nikkei 272 Points Up 20,384

Hang Sang 117 Points Down 25,119

 RESULT TODAY

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MARKET SUMMARY FOR 06 JULY 2015

Sensex, which opened at 27,857  points, closed at 28,208 points up 116 points or 0.41 percent from its previous day's close at 28,092 points. The Sensex touched a high of 28,235 points and a low of 27,774 points in the intra-day trade.Nifty up by 37 points or 0.44 percent at 8,537 points. Made high of 8547. And a low of 8389. Indian equity markets on Monday pared initial losses and soared despite prevailing anxiety on account of Greece through Sunday's referendum rejecting the terms for a new bailout package. The market has ended with high returns as global markets are reeling under Greece crisis. The Nifty has closed above 8500 for first time since April 17. About 1784 shares have advanced, 1014 shares declined, and 185 shares are unchanged. 

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MARKET SUMMARY FOR 03 JULY 2015

Sensex today rose by 147 points to again rally past 28,000-mark, largely driven by gains in banking and capital goods stocks on renewed buying interest by foreign investors and higher government spending. Nifty surged 40 points or 0.47 per cent to close at 8,484 after hovering between 8,497 and 8424 during the session. sensex After a hesitant start, it recouped the 28,000-mark to hit the day's high of 28,135. before settling at 28,092., showing a recovery of 147 points or 0.53 per cent. The Indian stock market rose on Friday, despite the global weakness seen other Asian markets. nifty index was nearly touch a psychological levels of 8,500 made high of 8496 and the support by banking and pharmaceutical stocks. Very narrow range bound activity marked the action of the last trading session so far as the index movement is concerned. We need a break out above this zone or a breakdown below this zone for a directional move. In the event of market getting past firmly above 8480 then we can expect at least a test of 8526 or even higher if not close to or around the 8600-zone. On the downside, unless the index falls decisively below 8418 level there would be no major threat as such or any vulnerability. Below 8418, the level to watch out for would be located at 8356. A breakdown below 8456 on high volume activity would mean much lower levels to come.

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