MARKET SUMMARY FOR 04 JUNE 2015

“BUY WOCKPHARMA ABOVE 1400 TGT 1430 SL 1375”

Nifty ends above 8147, Sensex ended  flat; RIL, HDFC up 1-2% Reliance, HDFC, Wipro and HDFC Bank were top gainers in the Sensex. Tata Steel, Vedanta, ONGC, ICICI Bank and Bajaj Auto were major laggards.After a sluggish day, the market ended on lower note. The Sensex was down 24 points at 26813 and the Nifty slipped 4 points at 8147. About 1270 shares advanced, 1388 shares declined and 162 shares were unchanged. 

Sensex closes day in red, from third straight day of decline. Sensex ended nearly 300 points in afternoon trades and then getting back into the green zone before ended in red again. The markets had opened on a flat note. Nestle falls 6 per cent intraday as Delhi government imposes a 15 day ban on Maggi. Shares of Nestle India falls 9 per cent on the Bombay Stock Exchange on Wednesday, its biggest drop in a day in nine years. The stock has falls over 14 per cent in the month of June, and nearly 7 per cent so far in the calendar year 2015.Eicher Motors slips nearly 6% in intraday trade as Volvo sell its 3.7% stake.  Technically Nifty future is looking bullish on long term weekly charts, it may trade in range of 8500 and 8800 in near term while with the breaks of its support mark of 8336. WHENEVER Nifty touches the lower red trendline, we can expect a major multi-year rally.Nifty can touch 8,400-8,500 levels in the next one week amid high volatility.This Nifty weekly Log chart shows a pronounced uptrend within the blue channel trendlines. start considering a very very aggressively bullish stance on Nifty and that would have its targets at 8800 on Nifty.

DAILY RESISTANCE: 8188, 8229, 8336,8443

DAILY SUPPORT:  8081, 8015, 7908,7801

TOP GAINERS AND LOSERS ARE:

Sectors	Change %	Top Gainer/Losers Company
Refineries	2.9 %	B P C L
Textiles	1.24 %	Grasim Inds
Finance	2.0 %	H D F C
Cement	1.4 %	Ambuja Cem.
Steel	-3.2 %	Tata Steel
Crude Oil & Natural Gas	-1.9 %	O N G C
Mining & Mineral products	-3.9 %	NMDC
FMCG	-1.2 %	Hind. Unilever
Pharmaceuticals	-2.2 %	Lupin