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Tuesday, 30 June 2015

MARKET SUMMARY FOR 30 JUNE 2015

The Sensex opens gain after growing as much as 100 points in morning trade on Tuesday. The nifty index down it’s crucial psychological levels of 8300. After a volatile session, the market finally ended with a bang. The Sensex closed 135 points up at 27780 while Nifty gained 50 pts at 8370 today. About 1717 shares advanced, 986 shares declined, and 162 shares were unchanged. Tata Steel, Coal India, Sun Pharma, Lupin and Bharti Airtel were big gainers on the Sensex. ITC gained 2 percent. Among the losers are TCS, Wipro, ICICI Bank, Hero MotoCorp and GAIL.The Indian equity markets which were subdued throughout the intra-day trade on the back of Greece loan default, bounced back and provisionally closed in the positive territory on Tuesday.

NSE NEWS FOR JUNE 25,2015

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MARKET MAY OPEN LOWER ON WEAK GLOBAL CUES
DOWN JONES 350 POINTS DOWN 17,596
NIKKIE 23 POINTS UP 20,135
HENG SANG 191 POINTS UP 27,158
 RESULT TODAY
 Patel Engineering Ltd.
(75.45Price increase0.70 (0.94%)

Monday, 29 June 2015

MARKET SUMMARY FOR 29 JUNE 2015

Sensex ends 167 points down, Nifty above 8,300; Tech Mahindra top loser, down over 7%
Greeks woke up to shuttered banks, closed cash machines and a climate of rumours and conspiracy theories on Monday as a breakdown in talks between Athens and its creditors plunged the country deep into crisis.After receiving no extra emergency funding for Greek lenders from the European Central Bank, Prime Minister Alexis Tsipras sombrely announced capital controls in a televised address on Sunday night to prevent banks from collapsing under the weight of mass withdrawals. After a bad day of slaughter on Greek worries, the market finally managed to pick up some strength towards end. The Sensex was down 167 points or 0.6 percent at 27645, and the Nifty slipped 54 points or 0.6 percent at 8326.  About 896 shares advanced, 1791 shares declined, and 154 shares were unchanged. Greece has less than 48 hours to pay back 1.6 billion euros ($1.77 billion) of International Monetary Fund loans, and a default would set in train events that could lead to the country's exit from the euro currency.

Friday, 26 June 2015

MARKET SUMMARY FOR 26 JUNE 2015

The Market today open flat note on a fresh starting of July F&O series. Now market is slipping away the Sensex is down 72 points and the nifty is decline 11 points in early trade on Friday. in early trade today on fresh selling by participants as July series in the derivatives segment began on a subdued note amid weak Asian cues. After a stellar performance by the Nifty yesterday, we can still see the index moving up again in the day’s session provided it does not fall below 8382 – 8388 support area. In any case, getting past the hurdle of 8420, it would gain further momentum to scale up to even higher levels. On the downside, below 8382 support is likely to be found between 8340 and 8318. And so long as the Nifty does not go slip below 8259. Sensex traded 100 or 0.36 per cent points down at 27795, while Nifty traded 19 points or 0.23 per cent down at 8379. Sentiments remained dampened after RBI’s stress test surprisingly showed private banks are likely to see a significant jump in bad loans.It is not a great start of the July series. About 1180 shares advanced, 1496 shares declined, and 160 shares were unchanged. TCS, Bajaj Auto, NTPC, Infosys and Cipla were top gainers while GAIL, Vedanta, Bharti, BHEL and Tata Steel were major laggards, but managed to rally nearly 500 points for the week ended June 26, amid Greece debt woes which kept global markets volatile and sharp selling seen in China equity markets. 
TOP GAINERS AND LOSERS ARE:

NSE NEWS FOR JUNE25,2015

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RUPEE TRADES FLAT AGAINST DOLLAR
NIFTY UP BUY 3 POINTS @ 8384.
DOWN JONES 75 POINTS DOWN 17,890
NIKKIE 94 POINTS DOWN 20,676
HENG SANG 387 POINTS DOWN 27,762
EVENTS
·         JMT Auto Ltd. Splits Old Face Value 10 - New Face Value 2 - Stock split from Rs. 10/- to Re. 2/- each

·         SRS Ltd. Bonus: 1:1 (face value 10) Bonus issue in the ratio of 1:1.of Rs.10 /- each



Thursday, 25 June 2015

MARKET SUMMARY FOR 25 JUNE 2015

Sensex jumped 167 points or 0.6 percent at 27895. Nifty closed the session 37 points up at 8,398. The activity on the index options side of the market clearly tells us that the weak closing that happened in the last session is more due to bull liquidation rather than due to shorts getting created at the instance of the bulls. The candlestick pattern on the end-of-day chart for the last couple of sessions shows the bulls need fresh gumption and at least a bit of regrouping before they march forward, if at all. The range between 8341 and 8350 would act as the most critical zone for the day. Next strong support is located between 8398 and 8389. on hopes the government’s push on housing would aid income.Prime Minister Narendra Modi earlier in the day launched smart cities, housing for all and urban rejuvenation schemes for Asia’s third largest economy.
Also, the south-west monsoon rains have been above normal so far in June, stoking hopes the central bank will cut rates in October than in 2016 as anticipated earlier after delivering three cuts of 25 basis points each in 2015 so far.

Wednesday, 24 June 2015

MARKET SUMMARY FOR 24 JUNE 2015

The Sensex slipped by 75 points its first fall in nine days to 27,729 in late sell-off after news that the creditors rejected Greece’s new proposal took a toll on the market sentiment. After trading in positive zone for most part of the day, the index plunged over 200 from a high of 27,948 at the fag-end tracking losses in European stocks. and on sustained buying largely in tune with above-normal progress in monsoon. However, it slipped towards the close on negative global cues and touched the day's low of 27,647, before settling 75 points or 0.27 per cent down at 27,729.
HUL, BHEL, Sun Pharma, Lupin and Coal India are top gainers in the Sensex. Among the losers are Hindalco, M&M, Tata Steel, Maruti and SBI. The market is still maintaining its uptrend. The Sensex is up 76 points at 27880 and the Nifty is up 19.70 points at 8418. About 1172 shares have advanced, 902 shares declined, and 124 shares are unchanged.

PREOPENING OF MARKET FOR 23 JUNE2015

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INDIAN RUPEE DOWN BY 9 PAISE VS DOLLAR IN LATE MORNING DEALS
NIFTY UP BUY 3 POINTS UP @ 8384.
DOWN JONES 24  POINTS UP 18,144
NIKKIE 112  POINTS UP 20,122
HENG SANG 32 POINTS UP 27,366
EVENTS
  • Artech Power Products Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 24, 2015, To consider and approve the resolutions to be passed through postal ballot pursuant to the provisions of section 110 of Companies Act, 2013 and Rule 22 of the Companies (Management and Administration) Rules, 2014.
  • Bank of Baroda AGM held on 24-Jun-15 (Rs.3.2000 per share(160%)Dividend)


                          

Tuesday, 23 June 2015

MARKET SUMMARY FOR 23 JUNE 2015

Nifty ended with a gain of 28 points or 0.34 per cent at 8,380 made high of 8397 on Tuesday and Rallying for the eighth consecutive session the Sensex advanced 74.16 points or 0.27 percent to 27,804. but slipped into negative terrain briefly as profit-booking emerged at higher levels. However, it bounced back to hit a high of 27,882, before settling at 27,804.
Sentiment got a boost after Finance Minister Arun Jaitley yesterday said the government will soon infuse capital in public sector banks,Hopes that better-than-forecasted monsoon may help the RBI cut rates sooner than expected, too triggered buying activity.

PREOPENING OF MARKET FOR 23 JUNE2015

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RBI FIXES REFERENCE RATE OF RUPEE AGAINST DOLLAR, EURO, POUND, YEN.
SENSEX,NIFTY LIKELY TO OPEN HIGHER ON FIRM GLOBAL CUES.
DOWN JONES 105  POINTS UP18,115
NIKKIE 330  POINTS UP 20,778
HENG SANG 67 POINTS DOWN 27,013
EVENTS-
·         POLARIS CONSULTING & SERVICES BOOK CLOSURES TO BE HELD ON JUNE 23,2015 FOR Rs.10,0000 PER SHARE(200%) FINAL DIVIDEND.

·         BANK OF MAHARASHTRA BOOK CLOSURE IS TO BE HELD FROM JUNE 23,2015 TO JUNE 29,2015.

Monday, 22 June 2015

MARKET SUMMARY FOR 22 JUNE 2015

The Sensex today surged by 414 points to 27,730 and nifty up by 1.4 % at 8355 made high of 8374 on Monday. The bulls would continue to be on the driver’s seat. Despite the US market closing a little more than half a percentage point down, the Asian markets are quite firm this morning, and it augurs well for the uptrend here and naturally for the bulls. On the way up, it needs to clear a strong supply zone between 8246 and 8280. Once this range is taken out the index would head for the next important target of 8350 – 8480. In case, there were to be profit taking led selling, below the 8195-level, the next range to watch out for is located between 8171 and 8130.
The only problem for the bulls is the huge number of put addition for the 8200-strike on last Friday—over 2 million units. In case there is any high volume based selling below 8195, it would have a cascading effect on those late cavalier bulls who sold put options like swashbucklers might have rue that stance then. In any case, so long as the 8130-mark holds, the bulls can always a comeback.
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INDIAN RUPEE ENDS 18 PAISA HIGHER AT ONE-MONTH HIGH OF 63.55 VS US DOLLAR
NIFTY LIKELY TO OPEN IN GREEN
DOWN JONES 99 POINTS DOWN18,015
NIKKIE 161 POINTS UP 20,335
HENG SENG 115 POINTS UP 26,876
EVENTS-

o   AGM OF ALLAHABAD BANK IS TO BE HELD ON JUNE26, 2015.THE BOOK         CLOSURE WAS FROM JUNE 20, 2015 TO JUNE 26,201
   AGM OF SYNDICATE BANK IS TO BE HELD ON JUNE 26, 2015.THE BOOK               CLOSURE WAS FROM JUNE 20, 2015 TO JUNE 26,2015.

Friday, 19 June 2015

MARKET SUMMARY FOR 19 JUNE 2015

Sensex extended its gain for sixth day in a row on Friday and rose 200 points to close at 27,316. The Nifty gained 50 points to 8,247.It was a day of real display of strength by the bulls for they showed the guts to build up major positions in the options as well as in futures! Not just that, they forced the bears to cover the short sold calls for strike prices of 7900 through 8100 for the June series in a big way: nearly 1.9 million units of call options for these strike prices were covered among which just 8100-strike saw a reduction of over 1.3 million units. On the put side, the bulls wrote around 5 million units for strike prices starting from 7900 through 8200. This only suggests that there would, most likely be, a serious attempt to get past the 200-day EMA at 8195 in the day’s session breaching it decisively. Equity benchmarks rallied for the sixth consecutive session Friday with the Nifty effortlessly conquering the 8200-mark, supported by banking & financials, oil and select auto stocks. Good monsoon start and upmove in global markets kept the investor mood positive.A strong trend at other Asian markets following a record closing at US markets yesterday despite the Greek stalemate helped.

NIFTY TRADING KEYS FOR 19 JUNE 2015

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RUPEE APPRECIATES 42 PAISA AGAINST DOLLAR AFTER FED OUTCOME
NIFTY LIKELY TO OPEN IN GREEN
DOWN JONES 180 POINTS Up 18,115
NIKKIE 161 POINTS UP 20,152
HENG SENG 279 POINTS UP 26,973
EVENTS
·         C.MAHENDRA EXPORTS LIMITED HAS INFORMED THE EXCHANGE THAT THE COMPANY HAS FIXED RECORD DATE AS JUNE 19, 2015 FOR THE PURPOSE OF BONUS1:1.

·         AGM OF ASHOK LEYLAND BOOK CLOSURE WAS FROM JUNE 19, 2015 TO 29, 2015... 

Thursday, 18 June 2015

MARKET SUMMARY FOR 18 JUNE 2015

CALLS GIVEN ON 17 MAY 2015
BANKBARODA CALL ROCKS..!!!!! ACHIEVED TGT 138.50 AND MADE A LOW OF 138
FUTURE:
 “SELL ONGC BELOW 311 TGT 305 SL 317”
The Sensex regained the 27,000 mark by climbing over 200 points in early trade today, extending its winning streak to the fifth straight day. The market ended on a higher note. The Sensex was up 283 points or 1 percent at 27115 and the Nifty was up 83 points or 1 percent at 8174. About 1634 shares advanced, 1099 shares declined and 157 shares were unchanged. Reliance, ONGC, Tata Motors, Sun Pharma and Wipro were top gainers in the Sensex. Among the losers were Coal India, Cipla, NTPC, Tata Steel and GAIL. This came on the back of continued buying by participants amid a mixed trend in global markets after the US Fed kept its near-zero benchmark interest rate unchanged. Besides, strengthening of the rupee by 25 paise at 63.87 against the dollar in early trade supported the rally. all sectoral indices led by healthcare, oil & gas, capital goods and consumer durables trading in the positive zone with gains of up to 1.04 per cent. Nifty gained back the 8,100 mark by surging 45 points, or 0.57 per cent, at 8,156. Value-buying also continued as the broader NSE index remained more than 10 percent below its record high hit in March.
Gains also tracked higher Asian shares after the Federal Reserve signaled that interest rates would rise more slowly than markets had expected. we need to keep a close watch on the range between 8160 and 8165. Once this is taken out we could see that the Nifty heading towards the significant resistance zone between 8190 and 8210. Immediately, however, some resistance we might see even at 8104. We would consider economic growth resurfacing if it were to fall below 8007 and close below that level.
Top five reasons why Sensex rose over 300 points in intra-day trade to reclaim 27000 

NIFTY TRADING KEYS FOR 18 JUNE 2015

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RUPEE STRENGTHENS 15 PAISA AGAINST US DOLLAR TO 64.10
GLOBAL CUESMIXED FLAT NIFTY OPENING SEEN TODAY
DOWN JONES 31 POINTS Up 17,935
NIKKIE 120 POINTS DOWN 20,098
HENG SENG  51  POINTS DOWN  26,738
EVENTS-
  • BANK OF BARODA PRESENTS THE BOOK CLOSURE DATE FROM 18 JUNE 2015 TO 24 JUNE 2015
  • ULTRACAB (INDIA) LTD. CONSIDER JUNE 18,2015 AS DATE OF EXTRA-ORDINARY GENERAL MEETING.. 

Wednesday, 17 June 2015

MARKET SUMMARY FOR 17 JUNE 2015

CALLS GIVEN ON 16 MAY 2015
INFY CALL ROCKS..!!!!! ACHIEVED TGT 1012 AND MADE A HIGH OF 1020
FUTURE:
“SELL BANKBARODA BELOW 140 TGT 138.50 SL 142.50”

Nifty was gap up opening today and ended at 8077 made low of 8043.Banknifty ended at 17525 and made a low of 17479. The Sensex slipped over 85 points in early trade today as participants booked profits after two sessions of gains amid sustained capital outflows and a weak trend at other Asian markets. Wednesday, rising 0.55 percent ahead of outcome of Fed’s two-day meeting tonight. banking, oil & gas, capital goods, PSU and IT sector stocks succumbed to profit-booking. Index heavyweights like Reliance Industries, L&T and HUL drove the market higher.

NIFTY TRADING KEYS FOR 17 JUNE 2015

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RUPEE GAINS 10 PAISA AGAINST DOLLER
POSITIVE GLOBAL CUES NIFTY TO SEE GAP UP OPENING
DOWN JONES  113 POINTS Up  17,904
NIKKIE 67  POINTS DOWN  20,190
HENG  SENG  81  POINTS Up  26,648
EVENTS
  • MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD POM ON 17 JUNE 2015.
  • INFOSYS LTD BOOK CLOSURE ON 17 JUNE 2015 PURPOSE DIVIDEND PAYMENT OF Rs.29.50/-PER EQUITY SHARE (EQUIVALENT TO Rs.14.75/- PER SHARE AFTER 1;1 BONUS ISSUE) & ISSUE OF 1 BONUS EQUITY SHARE OF Rs.5/- EACH FOR EVERY 1 EXISTING FULLY PAID UP EQUITY SHARE OF Rs.5/- EACH HELD. 

Tuesday, 16 June 2015

MARKET SUMMARY FOR 16 JUNE 2015

FUTURE:
“BUY INFY ABOVE 1000 TGT 1012/1024 SL 88”
Sensex ended up 100 points or 0.4 percent at 26686, and the Nifty was up 34 points or 0.4 percent at 8061. Nifty open below 8000,made low of 7947.bank nifty ended at 17622 made a low of 17275.After a lot of struggle, a late surge helped market to end with some smart gains. The About 1289 shares have advanced, 1336 shares declined, and 176 shares are unchanged. auto, banks aid Bajaj Auto, Tata Power, SBI, HUL and NTPC were lead gainers while Vedanta, Dr Reddy's, Tata Steel, HDFC and GAIL were laggards. The range 7929 is not an easy to break support, hence, the bulls need not worry so long as they defend this zone for a serious breakdown below this level would probably lead to a sharp fall it’s kind of the last citadel the fall of which would mean the bulls beginning to capitulate. Hence, we need to be vigilant about this zone. On the other hand, the Nifty taking out the range between 8057 and 8071 would signal the first sign of strength.

MUST TO KNOW BEFORE TRADING IN NIFTY FOR 16 JUNE 2015

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RUPEE WEAKENS 10 PAISA AGAINST DOLLAR AT 64.16
VOLATILITY EXPECTED IN MARKET TODAY NIFTY MAY OPEN In Red
DOWN JONES 107  POINTS DOWN 17,791
NIKKEI 127 POINTS DOWN  20,160
HANG  SENG  132  POINTS DOWN  26,729
BOARD MEETING - GAYATRI PROJECTS LTD TO CONSIDER PREFERENTIAL ISSUE ON JUNE 16,2015
 BOARD MEETING - KEWAL KIRAN CLOTHING LTD.INTERIM DIVIDEND ON JUNE16,2015

Monday, 15 June 2015

MARKET SUMMARY FOR 15 JUNE 2015

Sensex gains more than 160 points; automobile stocks up.Better-than-expected factory output and contained consumer and wholesale price indices buoyed sentiments and led to a barometer index of the Indian equities markets on Monday gaining more than 160 points in the late-afternoon trade session. The market saw buying interest on Monday despite some late global jitters. The Nifty reclaimed 8,000 led by oil, FMCG, pharma, auto and select private banking & financials stocks. Macro data also supported the sentiment today. The 30-share BSE Sensex gained 161  points to close at 26586 and the 50-share NSE nifty rose 31 points to 8013. The BSE Midcap closed flat while Smallcap index advanced 0.4 percent. Sensex ended at 26,625 and up by 200 points; Nifty ended at 8,037 and up by 54 points. In volatile movements, the 30-share Sensex after falling  to the day’s low of 26,307, staged a strong comeback at a rapid pace to hit high of 26,728. 
TOP GAINERS AND LOSERS ARE:

KEYS TO TRADE IN NIFTY FOR 15 JUNE 2015


              RUPEE EXTENDS LOSSES, 9 PAISA  AGAINST DOLLAR

  •   Mkt  may continue losing streak,red Nifty opening seen
  •   Down Jones 140  points down  17,898
  •   Nikkie  46  Points Down  20,361
  •   Heng  Seng  358   Point Down  26,922
  •   ASIS LOGISTICS LTD FACE VALUE SPLIT FROM RS 100/SHARE TO RS    1/SHARE
  •   BOARD MEETING ; AUDITED RESULT  OF  PATEL  ENGINEERING  LTD. 
  •  BOARD MEETING ; QUARTERLY  RESULTS OF JMDE PACKAGING  &AMP ;    REALTIES LTD.




  

Friday, 12 June 2015

MARKET SUMMARY FOR 12 JUNE 2015

Nifty remained below 8000, Sensex was up 64 points at 26435, whereas the Nifty up 19 points, or 0.3 per cent, at 7,985 and made a low of 7932.and bank nifty up 1.3 percent at 17502 and made a low of 17140. Today metal, realty, healthcare, auto, and capital goods leading the fall and Banking & financials, select auto and oil stocks led the market higher while the selling in IT and FMCG stocks capped the upside. After day’s consolidation, the market ended with marginal gains. The 30-share was up 54 points at 26425 and the 50-share gained 17 points at 7982. Nifty edged higher in a choppy session on Friday, while still on course for a third consecutive weekly decline, as gains in Reliance Industries after its annual shareholder meeting, overpowered falls in IT exporters for the day.
Monsoon is clearly causing disappointments but the fact remains despite a few rate cuts since the beginning of the year, credit growth has not responded and is languishing below 10 percent. In addition,

KEYS TO TRADE IN NIFTY FOR 12 JUNE 2015

  • Rupee closes 13 paise weaker against US dollar at 63.97.
  • Market  May Continue Losing Streak,Red Nifty Opening Seen
  • Down Jones 38  points up  18,039
  • NIKKIE 10  points up  20,393
  • HENG SENG 163  point up 27,071
  • DIVIDENTS OF BIRLA CORPORATION LTD & VIJAYA  BANK


Thursday, 11 June 2015

MARKET SUMMARY FOR 11 JUNE 2015, NIFTY CRASHES BELOW 8,000

Breakdown on the Street! Nifty crashes below 8,000. Finally Sensex shed 476 points or 1.9 percent at 26352 and the Nifty plunged 164 points or 2 percent at 7961 and made a low of 7950. It is another dismal day,The Both the indices ended at 8-month lowest closing level. About 792 shares advanced, 1852 shares declined, and 152 shares were unchanged. The Nifty is witnessing sharp selling pressure and has breached important support of 8,000 for the first time since May 7. and bank nifty also ended down by 2.4 percent at 17245 and made a low of 17237.
The Nifty and Bank Nifty have failed to move past clusters of moving averages. Markets ended in red for the second consecutive week due to persistent selling pressure even as RBI cut policy rates by 25 bps and took a cautious stance on the economic recovery, while a forecast of a deficient monsoon added to the rout.

TOP GAINERS & LOSERS OF 11JUNE2015.

GAINERS
VEDL, BPCL , TECHM, SUNPHARMA

LOSERS
ASIANPAINT, TATAMOTORS ,TATAPOWER, IDEA, KOTAKBANK

KEYS TO TRADE IN NIFTY FOR 11 JUNE 2015



·                     Rupee was trading 14 paise higher at Rs 63.78 against the dollar

·                     Nifty futures is completing 15 years on Thursday. Launched on 12 June 2000, the index had then opened at 1461 and has moved nearly 5.5 times in the past 15 years.

·                      Nifty up  24 points at the opening bell.

·                     Down Jones 236  points up  18,000

·                     NIKKIE 288  points up  20,335

·                     HENG SENG 232 point up 26,901

·                     BOARD MEETINGS OF  CERA SANITARYWARE LTD & RAIN INDUSTRIES LTD WILL BE HELD JUNE 11,2015.

Wednesday, 10 June 2015

MARKET SUMMARY FOR 10 JUNE 2015


The market ended with style making some smart moves. The Sensex ended up 359 points or 1.4 percent at 26840, and the Nifty was up 102 points or 1.1 percent at 8119 and made a low of 8024 ,and bank nifty ended up by 1 percent at 17671 and made a low of 17511 . About 1705 shares advanced, 949 shares declined, and 151 shares were unchanged. BHEL was the top gainer on Sensex, up 4% and Wipro, Bajaj Auto, Reliance and L&T were also top gainers in the Sensex. 29 stocks on the Sensex ended the day in green. Sensex surged over 450 points in intraday trade after A relief rally after seven consecutive selling trading session was witnessed at the bourses on the back of short covering, lower level buying. Deferral of China’s shares into MSCI index, strong global cues and stronger rupee lifted the sentiment.
The market strengthened further in afternoon trade, supported by short covering in banking & financials, oil, technology and capital goods stocks. And Recovering from nearly 8-month lows, the benchmark BSE Sensex gained over 236 points in early trade today, snapping its 6-session losing streak, on the back of a rebound in blue-chip stocks following value buying and positive cues from other Asian markets.

MUST KNOW BEFORE TRADING IN NIFTY FOR 10 JUNE 2015


                   The rupee closed higher by 16 paise at 63.92 against the American currency on fresh selling of dollars by banks and exporters due to weakness of the greenback in the overseas market..
·                      Nifty down 21  points at the opening bell.
·                     Down Jones 2.51  points down  17,764
·                     NIKKIE 77  points up  20,173
·                     HENG SENG 40 point up 27029
·                     DIVIDENDS ORIENTAL BANK OF COMMERCE  POLARIS CONSULTING  & SERVICES  LTD.

Tuesday, 9 June 2015

TECHNICAL ANALYSIS OF AXISBANK

POSITIONAL FUTURE:
“BUY AXIS BANK ABOVE 562 TGT 570/580”
WEEKLY RESISTANCE: 558, 564, 577,590
WEEKLY PIVOT POINT: 551 
WEEKLY SUPPORT:  545, 538, 525,512

The stock is showing correction since past few sessions and also sustaining above lower trend line support level. Currently it has formed reversal pattern on the short term charts and trading below the resistance level of 564.Breakout of its resistance level may show recovery in it where traders can expect targets of 570 and 580 while major support of 538 can be placed as technical stop loss.

MUST KNOW BEFORE TRADING ON 9 JUNE 2015

The rupee weakened 28 paise to trade at 64.03 against the dollar in early trade at the Interbank Foreign Exchange on capital outflows by foreign funds amid strengthening of the American currency against others overseas.

·                      Nifty 70 points down at the opening bell.
·                     Down Jones 72 points down  17766
·                     NIKKIE 164 points down 20,292
·                     HENG SENG 306 point down 27,010
·                     Dividends announcement of Sundram Fasteners Ltd on June 9, 2015