How Share Market Behaves Today

LIFE TIME NEW HIGHS AGAIN; MARKETS IN GOOD SHAPE AS MOMENTUM CONTINUES TO FAVOR BUYERS; NIFTY MAY REMAIN STABLE WITH FOUR TRADING DAYS TO F&O EXPIRY.

PSU BANKS, HIND LEVER OFFER ACTIVE INVESTING OPPORTUNITIES. THE BIG RALLY IN IT STOCKS MAY BE READY FOR A CONSOLIDATION.  CEMENT (ACC, AMBUJA, ULTRATECH OFFER OPPORTUNITIES WHILE INDIA CEMENT IS A SPECULATIVE BUY (LARGE BASE BUILDING). 

• Under performance continues in Bank Nifty. Prices are finding a strong resistance near 15650 –  15750 zones. A breakout above this zone may give us a buying opportunity in this sector.
• Up move continues in the CNX IT. The index is now at the verge of making new life time highs above  10400. Trend is very strong on upside in IT Sector. Traders should look for a buying opportunity in  IT Stocks like HCL TECH, WIPRO, INFY, TCS and TECH M.
• Trend is up in FINANCIAL Sector. Prices are consolidating at its top. This consolidation has find  support and prices moves on upside. Traders can look for a buying opportunity in outperforming  Financial Stocks such as HDFC, LICHSGFIN and REL CAPITAL..

Corporate & Economic News 

• Wipro reported a 29.5% growth in its consolidated net profit at Rs 2,103.2 crore for April-June period, helped by large deals in the application and infrastructure space.
• The Union Cabinet on Thursday cleared a Bill to raise the foreign investment ceiling in private insurance companies from 26 per cent to 49 per cent, but inserted a provision that the management and control of these companies must be with Indians. This cap will be composite — both foreign direct investment (FDI) and foreign portfolio investment.