Market ended at record closing highs for second straight session with Nifty closing above 10,100 for the first time ever on strong auto sales numbers and hopes that RBI will cut interest rates tomorrow. World stocks, on their longest streak of monthly gains in more than a decade, rose on Tuesday amid further signs that the global economy is in fine fettle, while the beaten-down dollar edged up slightly from 14-month lows. The rally in banking stocks since the start of calendar year 2017 (CY17) has brought cheer to qualified institutional buyers (QIBs), as shares of most banks have outperformed the markets and are trading at a premium to their respective qualified institutional placement (QIP) issue prices. Thus far in the CY17, investors in banks like State Bank of India (SBI), YES Bank, Kotak Mahindra Bank, Lakshmi Vilas Bank and DCB Bank have rallied up to 21% over their respective QIP issue prices. The Sensex ended at fresh closing high of 32,575, up 60 points while the broader Nifty50 index ended at new closing high of 10,121, up 44 points.
Nifty call Put Tips For Tomorrow
Nifty Option Tips for Tomorrow (2nd August)
BUY VOLTAS FUTURE ABOVE 530.5 TARGETS 532.5, 534.5, 536.5 STOP LOSS 526.5
BUY CHENNPETRO FUTURE ABOVE 403.75 TARGETS 406.25, 408.75, 411.25 STOP LOSS 398.75
BUY SREINFRA FUTURE ABOVE 125.5 TARGETS 127 , 128.5 , 130 STOP LOSS 123.25