Market update 26th July

10,000 came and gone, but it left NIFTY strong. The put call ratio actually came down from 1.48 to 1.47 indicating a huge shorting on calls at 10,000, 10,050 and 10,100 to eat the premiums. These 3 strikes has generated maximum volume on call side yesterday. Buying was also seen on 10,000 call which is indicated by rising premium values though index fell. That initiated 10,000 put selling and now hungry traders are eying to eat the 10,000 put premium which is at 45 rupees. If NIFTY expires above 9955 they would eat the premium. So with this interesting cues expiry is now likely to happen anywhere between 9955 and 10,030 mark. Today’s open is flat to positive at 9970 and NIFTY might again flirt with 10,000. Where it closes today determines the fate of expiry tomorrow.
Yesterday’s Q1 results were more or less mixed with Airtel putting up the best show. The volumes increased despite Jio but data realization income fell by a whopping 73% that translated into lessened profits. But all these are factored in, so the stock might not be negative. Hero came with the average numbers. Present looks okay for Hero but future looks uncertain. Two wheeler market is entering into premium segment and Hero doesn’t have much presence in that. That is its biggest worry. Stock might be flat to negative. Axis bank is expected to be worst and it stood upto the expectations. So, the stock might not be negative as nobody expected a better performance from Axis. Slippages are still at 2700 Cr and that is the biggest worry.

Q1 results slated for today

1. HDFC
2. Inox Leisure
3. Nestle
4. Orient Cement
5. PVR Cinemas
6. Yes bank

Fuel prices in important cities today 26th July

City                   Petrol                Diesel
Delhi                 64.57(64.57)      54.95(54.95)
Mumbai             73.91(73.90)      58.49(58.50)
Kolkata             67.91(67.91)      57.69(57.70)
Chennai             67.06(67.05)      57.94(57.94)
Bangalore         65.75(65.75)      55.09(55.10)
Hyderabad        68.59(68.59)      59.85(59.85)
Prices more or less remained stable today.