9 AM UPDATE:
DOW FUTURES (+30, 27274)
NASDAQ FUTURES (+13, 8004)
SGX NIFTY (+18, 11229)
NIKKEI (+147, 21763)
HANG SENG (+133, 28239)
SHANGHAI (+19, 2960)
The key themes of the day
• Face-to-face trade talks between U.S. and Chinese officials, due to start Today in Shanghai.
• The Federal Open Market Committee i:e the U.S central bank’s interest-rate body will meet Today and on Wednesday it will release a decision at 2 p.m. eastern time at the end of their two days of talks.
STOCKS TO WATCH:
• BULLISH STOCKS: NESTLE, APOLLO HOSPITALS, PIDILITE, INDIGO, BIOCON, ICICIBANK, TCS.
*BEARISH STOCKS*RELIANCE, UPL, VEDL, MUTHOOTH FINANCE, TECHM, TATAMOTORS, BANKBARODA, IBHSGFIN, PFC, HINDALCO
All about stocks (F&O Trades):
• DISHTV (CMP 29.50): Sell at CMP. Targets 25.50/19. Stop 35.05.
• MUTHOOT FINANCE (CMP 589): Sell at CMP. Targets 582/567/541. Stop 621.
• UNION BANK OF INDIA (CMP 70.40): Sell at CMP. Targets 69/61. Stop 76.05.
All about stocks (Cash Trades):
• PAGE INDUSTRIES (CMP 18599): Sell at CMP. Targets 18001/17651. Stop 19791.
• IDBI (CMP 30): Sell at CMP. Targets 25/22.50. Stop 33.45.
• TATA CHEMICAL (CMP 577): Sell at CMP. Targets 550/509. Stop 607.
SHOW ME THE MONEY: BUY NIFTY 1st Aug PE Strike Price 11200 between 31-35 zone. Profit: Unlimited. Maximum Loss: Rs. 2,625/-. Stop: Exit Put option if Nifty moves above 11301. (Nifty August Futures CMP 11224.95).
Bulls Vs. Bears: Time to Pick a Side!!
• We suspect, Dalal Street will continue to underperform and it makes sense to keep books light Preferred trade on Nifty (11189): Sell between 11245-11261 zone. Targets at 11141/11101. Stop 11389.
• Preferred trade on Bank Nifty (29296): Sell between 29751-30001 zone. Targets at 28757/28001. Stop 30757.