Nifty Level For Today

Nifty spot close @8044
Nifty future close @8043

SYMBOL S1 S2 PIVOT R1 R2
NIFTY SPOT 8005 7967 8068 8106 8169
NIFTY FUTURE 8007 7971 8067 8103 8163

Sharp down fall witnessed today. As rupee weakens against dollar we can see more selling pressure, nifty closed below 8050 shows more downward movement is expected we may see 7950-7900 level in coming days. No buy, sell on rise will be a best strategy.

Bank Nifty levels For Today
Bank nifty spot close @17406
Bank nifty future close @17398
SYMBOL S1 S2 PIVOT R1 R2
BANKNIFTY SPOT 17322 17238 17441 17525 17644
BANKNIFTY FUTURE 17295 17192 17437 17540 17682

VIEWS ON BANK NIFTY

Markets dragged down today, we may see more selling below 17300, and bank nifty may touch 17100-17000. Above 17300 major resistances will 17550.

MARKET COMMENTARY
A broad based decline was witnessed on the domestic bourses on the first trading session of the week today, 8 June 2015, as an upbeat US jobs report raised expectations of early rate increase by the Federal Reserve. Higher US interest rates will reduce the attraction of riskier emerging-markets assets. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit 4-1/2-week low at the fag end of the trading session as these two key benchmark indices extended intraday losses. Meanwhile, global credit rating agency Moody's Investors Service reportedly said today, 8 June 2015, that below-normal rains would be credit negative for India's ratings as it would lower farm output and stoke food prices. Key benchmark indices languished in negative zone almost throughout the trading session today, 8 June 2015.

OPTION STRATEGY

 In today’s session we have seen call writing in nifty 8100 call so we can consider this as a strong resistance.

 AMBUJA 230 & 240 CALLS were so active, stock good recovery from lower level.

 ZEEL 340 calls were in action today, stock showed us selling from upper level, more selling below 340.

STOCKS TO WATCH

SBIN:
Selling opportunity below 260 stocks may show 250/240 level in coming days. Above 270 major resistances will be 275.
DISHTV:
Buy DISHTV above 98, stock may show 106/110 level in coming days. Below 98 major supports will be 94.
PFC:
Selling seen on the card below 265, stock may show 245/235 levels in coming days. Though long term buyers can accumulate the stock from dips.
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