Indian Indices:
All-time high level of 9,928 may act as a resistance level, and if it holds above this level, it may scale up to the magical mark of 10,000.Nifty closed at 9,899 up by 72 points, whereas BSE Sensex closed higher by 244 points at 31,955 on Wednesday. There were 1114 advances, 516 declines and 330 unchanged stocks on NSE reflecting positive undertone floating in the market.
Maximum put writing in Nifty derivatives was seen at the strike price of 9900 which signals that the support level of Nifty has successfully pulled up. There was short built up position seen at the strike prices of 9900 followed by 10000 and 10100 in call options.
There are six days remaining for the expiry of July derivative contracts. Nifty futures of July series closed at premium of 24 points while the futures of August and September series closed at premiums of 59 and 86 points respectively.
The foreign institutional investors (FIIs) were net buyers in the cash market and their cash inflow stood at record high of Rs 1046 crore as compared to past few trading session. FIIs were also remained net buyers in index futures and index options with net cash inflows of Rs 206.43 crore and Rs 846 crore respectively.
Nifty50 is likely to continue its momentum on the upside; now, going forward, the all-time high level of 9,928 may act as a resistance level, and if it holds above this level, it may scale up to the magical mark of 10,000. On the downside, supports are seen at the levels of 9,840 and 9,780.
Global Market:
US market closes at record highs on the back of robust earnings, the S&P 500 rose 0.54% to close at 2,473.83, a record. The index also posted an intraday record.
Asian markets slightly higher ahead of decisions from BOJ, Asian markets were slightly higher on Thursday’s trade as investor’s awaited decisions from Bank of Japan, Bank Indonesia and ECB.
The U.S. equity options market is pricing in uncharacteristically low stock market gyrations in the early days of second quarter corporate earnings reports, offering attractive opportunities for investors, market analysts said on Wednesday.
Major Headlines of the day:
• Just Dial board meeting on July 24 to consider buyback
• Piramal Enterprises enters into JV agreement with Bain Capital, to transfer 50 percent in held in Piramal Asset reconstruction to Bain Capital
• Dwarikesh Sugar in focus - ICRA upgrades rating from A- to A+ with stable outlook for long term loan facilities of Rs 599.99 crore
Trend in FII flows: The FIIs were net buyers of Rs 1046.65 the cash segment on Wednesday while the DIIs were net sellers of Rs –12.48 as per the provisional figures.
Upcoming Result : ALENMIC PHARMA, BAJAJ AUTO, HIND ZINC, KOTAK BANK, FORCE MOTOR, NIITTECH, RBLBANK, RELIANCE, ZENSAR, WIPRO, MAHINDRA CIE, RALLIES.
Securities in Ban For Trade Date 20-JUl-2017:
1.FORTIS
2.GMRINFRA
3.HDIL
4.IBREALEST
5.JPASSOCIAT
6.JSWENERGY
7.JUSTDIAL
8.KSCL
9.ORIENTBANK
10.TV18BRDCST
11.UJJIVAN
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