Daily Market Report 8th July 2019

Domestic Market View

Nifty Down by 130 points on Friday session as some of Budget Announcement were not good for Market like No Announcement for Auto sector, Taxation on Buy Back, Change in Promoter Holding (Proposed only). Some good news was there in Housing Finance Sector ( Govt. Clarified after market ends) that PSU Bank can Buy Assets of Weak Housing Finance Companies. Market will be more volatile because of news about promoter holding, If that rules is placed then there will near about 896 Companies which have to reduce the stake. List of 896 Companies.

FII Sold shares worth Rs 89 Crore, DII Bought Share worth Rs 275 Crore, VIX at 13. Quarter Result session starts from, TCS will report Quarter Result Tomorrow.

Nifty Support at 11770- 730, Resistance 11870-930.

Bank Nifty : It was stronger than Nifty in Friday session, Bank Nifty closed Flat on Friday where as Nifty closes 1% Down, So Expect good session by Bank Nifty and Kotak Bank is near Breakout zone, it can help Bank nifty to keep in Green zone. Support at 31400-320 Resistance at 31580-650.

Global Market View

Last week Global Market was in Uptrend, US Index Hit All time High Levels, Brent Oil was Near $64, Gold was Near $1400. Asian Were in mixed category, Hong Kong Market not looking good, Heavy Price change in HIBOR (Hong Kong Inter-bank Offered Rate) that was really not good for Hong Kong Economy.

Stocks in News

1. Due to Taxation in Buy Backs, IT sector more selloff likely.
2. Maruti : Cuts Production 5th time on the row, June production cut by 16%. Link
3. Mindtree : L&T Almost complete acquisition  Process of the company. Leadership changed, Recently we stopped Tracking and Trading in Mindtree due to Change in Promoters in company, from 17th July we will start tracking trading in Mindtree again. Link
4. Yes Bank : Invoked Pledge and acquire 40 Crore shares of Vadraj Cement, The shares are pledged against the credit facilities sanctioned by YES Bank to Vadraj Cement. Overall Vadraj Cement is Not listed in Market. Link
5. PNB : They Detected Fraud of 38k Crore in NPA Account of Bhushan Power & Steel. Link
6. Greenply Industries : Demerger EX-Date is 12 July and Record Date is 15th July, After Demerger Process a new company Named as “Green Panel Industries” will get list in Market. Link
7. Ramagopal Polytex Industries : Company will Delist from Exchange. Last day of Trading 17th July 2019. Link
8. Indian Hume Pipe : Andhra Govt. Cancel 700 Crore Order, so expect selloff in this counter. Link
9. Biocon : 12 Warning by USDFA on Malaysia Unit.

Change in Circuit Limits

Stocks for Buying

Recently Nestle Was Added in Buying List with Entry levels at 12000, stop loss of 10000 and Target upto 13000-14000. Holding period 4-6 Months.

One Can track our Short/Medium Term shares, all details is there in the attached Excel sheet. Google Drive Tracking sheet.

8:00 AM : SGX Nifty down by 40 Points, Asian Peers in Deep Red due to Extradition Policies in Hong Kong as market down by upto 1.5%, Brent at $64.40.

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