Market Commentary & Stock To Watch-07 July 2015

Banking, cement, pharma stocks and index heavyweights HDFC, ITC, Reliance Industries (RIL) and L&T led a strong intraday rebound on the domestic bourses. After staging a strong intraday rebound in afternoon trade, key benchmark indices surged in late trade as European stocks and US index futures trimmed intraday losses. However, by the time India's stock markets had closed at 15:30 IST, European stocks had weakened once gain. Asian and European stocks edged lower today, 6 July 2015, after Greek voters overwhelmingly rejected reform measures put forward by the country's international creditors in a referendum held yesterday, 5 July 2015, a result seen as increasing the chances of Greece exiting the shared currency. The strong intraday rebound for key benchmark indices in India materialised as global crude oil prices slumped. The decline in crude oil prices augur well for India.

STOCKS TO WATCH

ZEEL:  

Buy ZEEL above 369 stocks may show 378-382 in coming days, Below 369 major support will be 359.

TATASTEEL:                                        

Sell TATASTEEL as remain below 300 we may see some new lows. Buy only above 300.

ACC:

Buy ACC as remain above 1480 stock may show 1530/1550 level in coming days, below 1480 major support 1450.

VISIT: CapitalStars