Tit - bits

Photo: Warrior Trading 

Domestic bourses equity slumped today dragged by banks shares. The S&P BSE Sensex tumbled 660.63 points or 1.80%  to close at 36,033.06, while the Nifty 50 index fell 195.35 points or 1.81% to end the day at 10,607.35.

Negative global cues and rising toll of global coronavirus cases spooked the sentiments of the traders. Lingering tensions between the US and China also worried investors.

Media reporter that the US on Monday rejected China's disputed claims to offshore resources in most of the South China Sea.

In the broader market, the BSE Mid-Cap index lost 0.95% and the BSE Small-Cap index fell 0.93%.

Sellers outnumbered the buyers. On the BSE, 831 shares rose while1852 shares fell. A total of 122 shares remained unchanged.

#As expected most of the AGA Group stocks are hitting LCs. Reliance Capital (Rs.11) is on its way to Rs.9, while Reliance Infra (Rs.33.50) is expected to go to Rs.27/24 ranges. The stock of Reliance Communications Ltd (Rs.2.10) has jumped more than 4 times, from Re.0.50, during the last few months, for no obvious reasons except some old wine in the new bottle stories; spun by YouTube videos, of operators. The story of Mukhesh Ambani Group buying a part of RCom has been there in public domain since the last couple of years, isn't? What is new?

#The stock of J Kumar Infra Projects (Rs.94 25) should get support at Rs.91/92 ranges. The unnecessarily China hangover, is pulling the scrip down. Otherwise, the company has strong fundamentals.

#The scrip of Spandana Spoorty Financial Ltd (Rs.666.80) hit Lower circuits yesteday. If you remember I asked all to book profits, near Rs.700. I hope most of you have done the same. 

#Buy 30 July Calls at Rs.91, for short term targets of Rs.120/125. SL: Rs.84.