Investors Cautious Ahead of Economic Numbers

Market overview: 12th June 2015
Stock markets witnessed volatility throughout the day. Markets opened on a negative note but rebounded to trade in positive. Nifty hit near 8000 while SENSEX hit just below 26500 on the upside but tumbled again up to the days lows and below their yearly low. Ultimately markets bounced back in the last hour finally to close with marginal gains.
All in all markets witnessed volatility throughout the day where investors remained cautious ahead of IIP and CPI data. CPI came in as 5.01% as against 4.87% M-O-M while IIP came in as 4.1% as against 2.1% in the previous month.
Nifty closed at 7982 i.e. up 17 points while SENSEX closed at 26425 i.e. up 54 points from the previous close.
Broader markets underperformed the benchmark indices throughout the day but entered the positive territory and finally closed with 0.03% and 0.07% gains. However, markets breadth remained negative with 1149 Advances and 1485 Declines.
Metal and IT sectors refrained the markets from rising much. Both tumbled 1.5%. PSU Bank, Realty and Auto remained flat to negative. On the contrary Finance and Bank Nifty pulled the markets upwards with 1% plus gains. Others followed.
Tata Power, Bajaj Auto and ICICI Bank were the top gainers while NMDC, Vedanta and Hindalco were the top losers for the Nifty.
Option Data
Highest OI was witnessed at 8100 CE & 8500 CE and 7900 PE and 7800 PE. As per options data 8100CE and 7900PE are likely to remain in focus for June series.
Market Overview for 15th June 2015
The day went in consolidation. Hence, we maintain our view. The positive closing may lead to bounce back in the markets. In that case we hold 8140-8200 as the resistance levels. However, the trend has not yet changed and hence if the Nifty retreats again we hold 7935-7820 as the supports.
Stocks to watch for: Amtek Auto and GAIL on the upside while Apollo Hospitals and Engineers India on the downside