INDIAN EQUITY MARKET OUTLOOK-31 JULY 2015

Nifty Futures Tips

INDIAN BENCHMARKS  are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 16.50 points higher.                                                  
                                      
Headlines for the day:
LIC cuts stake in Maruti Suzuki by 2.03%
V-Mart posts 23.5% YoY growth in net earnings
Thomas Cook India acquires Sri Lanka-based Luxe Asia
                                                                                                                                                                                                                                                  
Trend in FII flows: The FIIs were net  sellers of Rs  -170.68 Cr in the cash segment on Thursday while the DIIs were net buyers of Rs   499.65 Cr, as per the provisional figures released by the NSE.


Market Commentary & Stock To Watch-31 July 2015

State-run banks led gains for key benchmark indices. The market sentiment was boosted by news reports that the Union Cabinet has approved amendments to the goods and services tax (GST) bill to compensate states for revenue loss for five years on introduction of the uniform nationwide indirect tax regime, as has been suggested by Rajya Sabha Select Committee. The market breadth indicating the overall health of the market was strong. The barometer index, the S&P BSE Sensex, provisionally rose 191.97 points or 0.7% to 27,755.40. Key benchmark indices hovered in positive zone throughout the trading session today, 30 July 2015.

STOCKS TO WATCH

TATAMOTORS:  
Sell TATAMOTORS as remain below 390 we may see 350/340 level in coming days, above 390 major resistances will be 405.

APOLLOTYRE
Buy APOLLOTYRE above 198 stock may show 210/215 level, remain below 198 more down side is expected.

CAIRN:
Sell CAIRN below 175 we may see 162/155 levels remain below 175 levels. 

Today’s view on Nifty-31 July 2015

Nifty levels: 
Nifty spot close @8421

Nifty future close @8421
Buy only above 8500 level, remain below that we may see more weakness, major support level will be 8300 below that level we may see fresh short position. We have seen intense volatility today; we may see now lower level buying.

CS ROCKING PERFORMANCE OF THE DAY-30 JULY 2015


STOCK FUTURES:

FUTURES INTRADAY:
BRITANNIA  FUTURES  BUY  CALL  3  TGT
CASTROLIND   FUTURES BUY CALL   SL TRIGERRED
                                         
NIFTY FUTURES:
BANK  NIFTY  FUTURES  BUY  CALL  SL TRIGERRED

OPTION:
M&M 1320   BUY  CALL SL TRIGERRED 

STOCK CASH:

STOCK CASH INTRADAY:
BANK OF BARODA  BUY  CALL  3  TGT 
ZENSAR TECH    BUY  CALL  3  TGT 
BRITANNIA  LTD   BUY  CALL  2  TGT 
M&M  BUY CALL  EXIT AT 1343.50
OBC    BUY  CALL  COST EXIT 


STOCK CASH PREMIUM:
SKS MICRO FINANCE  BUY  CALL  2 TGT
APOLLO TYRE  BUY  CALL  COST EXIT


INDIAN EQUITY MARKET WRAP UP-30 JULY 2015

Nifty futures tips

INDIAN BENCHMARKS extend gains for a second session
                                                                    
INDIAN EQUITY BENCHMARKS  rose on Thursday, posting their second consecutive session of gains, backed by strong earnings of Bank of Baroda and Dr Reddy's Laboratories while continued optimism over the proposed national tax bill also helped. The BSE index ended higher 0.51 percent, while the NSE index closed up 0.56 percent.
                                                   
Headlines for the day:
Colgate Palmolive Q1 net profit at Rs114.28 crore
Cabinet approves amendments to GST Bill
ILFS Transport wins Rs1,886 cr contract from NHAI
PSU Banks to get private occupants for top posts
                                                                        
The crucial resistance for Nifty is now seen at 8475 and above this 8525. Support for the immediate term is now placed at 8385 and next support will be 8325.


TOP CORPORATE NEWS-30 JULY 2015

Nifty Futures Tips

• Cipla gains as partner Sandoz gets USFDA nod
Shares of Mumbai based pharmaceutical company Cipla rose 3% on the BSE after its partner Sandoz received a USFDA nod to launch a generic version of Pulmicort respules (budesonide).
The stock opened at Rs685.10 and touched a high of Rs707.90 on the NSE.  Budesonide is a glucocorticoid steroid for the treatment of asthma, non-infectious rhinitis (including hay fever and other allergies), and for treatment and prevention of nasal polyposis. Additionally, it is used for Crohn's disease (inflammatory bowel disease).

• IndusInd Bank marks fresh high on acquisition of RBS
Shares of IndusInd Bank gained over 1% at Rs968, extending their 2% gain in the past two trading sessions on the BSE, after the private sector lender announced that it has completed the acquisition of the diamond and jewellery financing business and related deposit portfolio of Royal Bank of Scotland ( RBS). The stock has touched a record high of Rs 971 on the BSE in intra-day trades today. It has rallied 9% from Rs894 on July 10, after the company posted a 25% rise in net profit at Rs525 crore for the quarter ended June 30, compared to Rs 421 crore in the year-ago quarter, on the back of strong growth in net interest income.
                                                                                    
• ILFS Transport wins Rs1,886 cr contract from NHAI
IL&FS Transportation Networks won a Rs1,885.74 crore road project in Maharashtra from National Highways Authority of India ( NHAI).

• Cabinet approves amendments to GST Bill
The Union Cabinet approved the amendments to the GST Constitutional Amendment Bill, and also approved setting up of the Rs20,000 crore National Investment & Infrastructure Fund which was announced in the Budget this year – Passage of GST positive for stocks like Century Plyboards, Supreme Industries, Relaxo Footwear, KKCL from our coverage universe.

• NTPC to sign fresh PPAs with buyers, bundle thermal, solar in 85:15 ratio
NTPC to sign fresh PPAs with buyers, bundle thermal, solar in 85:15 ratio – Positive for Solar sector. NTPC has decided to sign fresh power purchase agreements (PPAs) with existing customers and bundle thermal power with solar power in 85:15 ratio. The utilities will have to compulsorily abide by the arrangement and the ones that decline to take solar power will not be allocated any thermal power.

• PSU Banks to get private occupants for top posts
As per media reports PS Jayakumar of VBHC is likely to become head of BoB and Mr Rakesh Sharma (Laxmi Vilas bank) could head Canara Bank. This would be seen as reform in PSU banks which may open room for more hiring of competitive candidates from outside and therefore gives positive signal for long term.  
                                                                                                                                                                                                                                                       
• Maruti Suzuki DZire attains 10 lakh cumulative sales mark this month
Maruti Suzuki India announced that Maruti Suzuki DZire attained the 10 lakh cumulative sales mark this month. Launched in 2008, Maruti Suzuki DZire has been a category leader and has helped Maruti Suzuki strengthen its presence in the entry sedan segment. With this milestone, Swift DZire now enters `the elite million club' comprising models such as Alto, Swift and Wagon R.

• Nava Bharat arm achieves financial closure of coal project
Nava Bharat Ventures step-down subsidiary Maamba Collieries (MCL) has achieved financial closure of its integrated coal & power project of an estimated cost of approx. Rs5,300 crore.

• JSW Energy subsidiary sells 26% stake in South African firm
JSW Energy’s subsidiary JSW Energy Natural Resources South Africa (PTY) has sold 26% stake in South African Coal Mining Holdings Ltd (SACMH) to meet regulatory norms.
After the stake sale, PTY's stake in SACMH will reduce to 67.25% from 93.27%.                                                                                                                         

INDIAN EQUITY MARKET OUTLOOK-30 JULY 2015

Nifty Futures Tips

INDIAN BENCHMARKS  are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 40 points higher.                                                  
                                      
Headlines for the day:
Allahabad Bank Q1 net profit up 30%; asset quality improves
Yes Bank Q1 net profit In-Line
Dabur Q1 earnings in line with estimates

Vedanta Q1 beats estimate; consolidated net profit at Rs866 cr
                                                                                                                                                                                                                                                  
Trend in FII flows: The FIIs were net  sellers of Rs  - 186.24 Cr in the cash segment on Wednesday while the DIIs were net buyers of Rs   642.69 Cr, as per the provisional figures released by the NSE.

Market Commentary & Stock To Watch-30 July 2015

IT stocks led gains for key benchmark indices. The market sentiment improved as crude oil prices extended recent losses. Brent crude oil futures edged lower on persistent worries about a global supply glut. The decline in crude oil prices augurs well for India. Key benchmark indices remained in positive zone throughout the trading session. The market breadth indicating the overall health of the market was positive. The barometer index, the S&P BSE Sensex, was provisionally up 105.67 points or 0.38% to 27564.90. In overseas stock markets, Chinese stocks ended higher with sharp gains in the last half-hour of trading.

STOCKS TO WATCH

TATAMOTORS:  
Sell TATAMOTORS as remain below 390 we may see 350/340 level in coming days, above 390 major resistances will be 405.

APOLLOTYRE
Buy APOLLOTYRE above 198 stock may show 210/215 level, remain below 198 more down side is expected.

CAIRN:
Sell CAIRN below 175 we may see 162/155 levels remain below 175 levels.

Today’s view on Nifty-30 July 2015

Nifty levels: 
Nifty spot close @8375

Nifty future close @8382
Buy only above 8500 level, remain below that we may see more weakness, major support level will be 8300 below that level we may see fresh short position. We have seen intense volatility today, we may see now lower level buying.

INDIAN EQUITY MARKET OUTLOOK-29 JULY 2015

Nifty Futures Tips

INDIAN BENCHMARKS  are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 15 points higher.                                                  
                                      
Headlines for the day:

PNB Q1FY16 asset quality stable, earnings dip 49% YoY
Thermax Q1 net profit up 49%; beats estimates
Maruti Q1 earnings margin continue to expand; profit in-line with estimates
BOI Q1 earnings reports disappointing performance

Results on July 29, 2015

Nestle India, Castrol India, Vedanta, UPL, MphasiS, Dabur India, JSW Steel, Essar Oil, Allahabad Bank, NHPC, Godrej Consumer, IIFL Holdings, Yes Bank.
                                                                                                                                                                                                                                                  
Trend in FII flows: The FIIs were net  sellers of Rs  - 1375.66 Cr in the cash segment on Tuesday while the DIIs were net buyers of Rs   665.05 Cr, as per the provisional figures released by the NSE.

Market Commentary & Stock To Watch-29 July 2015

Index heavyweight and housing finance major HDFC led losses for key benchmark indices. Shares of the housing finance major edged lower after the company reported a muted growth in bottom line in Q1 June 2015. The barometer index, the S&P BSE Sensex, was provisionally off 102.76 points or 0.37% to 27,458.62. The market breadth indicating the overall health of the market turned negative from positive in late trade. The market sentiment was edgy after the latest data showed that foreign portfolio investors (FPIs) pressed sales of Indian stocks yesterday, 27 July 2015.

STOCKS TO WATCH


TATAMOTORS:  
Sell TATAMOTORS as remain below 390 we may see 350/340 level in coming days, above 390 major resistances will be 405.

CEAT
Buy CEAT above 800 stock may show 840/850 level, remain below 800 more down side is expected.

CAIRN:
Sell CAIRN below 175 we may see 162/155 levels remain below 175 levels.

Today’s view on Nifty-29 July 2015

Nifty levels: 
Nifty spot close @8337

Nifty future close @8356
Buy only above 8500 level, remain below that we may see more weakness, major support level will be 8350 below that level we may see fresh short position. We have seen intense volatility today, we may see now lower level buying and short covering is expected above.

CS ROCKING PERFORMANCE OF THE DAY-28 JULY 2015

Nifty Futures Tips


STOCK FUTURES:

FUTURES INTRADAY:
ABIRLNUVO  FUTURES  BUY  CALL  3  TGT
IBULHSGFIN  FUTURES BUY CALL   2  TGT
DR REDDY   FUTURES    BUY  CALL  1 TGT
                                                                                                           
PREMIUM FUTURES:
ASHOKLEYLAND  FUTURES  BUY  CALL  1 TGT

                                       
NIFTY FUTURES:
BANK  NIFTY  FUTURES  BUY  CALL  1  TGT (BOOKED AT 18410)

OPTION:
DLF  PUT  100   BUY  CALL 3 TGT
IDEA  PUT  175  CALL  BUY  CALL 3 TGT
NIFTY  8300  CALL  BUY  CALL  1 TGT

STOCK CASH:
STOCK CASH INTRADAY:
TATAELXSI  BUY  CALL  1 TGT

Nifty Intraday Calls
Stock Futures Tips

TOP CORPORATE NEWS-28 JULY 2015

Nifty Futures Tips

• Power Grid approves Rs307 cr investment for transmission project
Power Grid Corporation of India has announced that the Board of Directors of the Company at its meeting held on July 24, 2015, have accorded the investment approval for 'Transmission System associated with RAPP 7 & 8 Part-B’ at an estimated cost of Rs307.18 Crore, with commissioning schedule of 28 months from the date of investment approval, matching with the Implementation Agreement (IA) signed with the generator.

• Hero MotoCorp enters into settlement agreement for EBR’s consulting biz
Hero MotoCorp has entered into a settlement agreement with the Receiver appointed by the US Court for Erik Buell Racing after it filed for bankruptcy. As per the agreement Hero will acquire ownership of certain tangible and intangible assets of EBR for USD2.8mn. Hero and the Receiver have entered into an agreement to resolve all disputes and give mutual releases.
                                                                                    
• Tata Motors working on a new platform for SCVs
Tata Motors is working on a new platform for small commercial vehicles (SCVs) which will replace the Ace platform. The ACE platform is 10 years old and hence the company is developing a new product to address the change in customer requirements.

• Ambuja Cement lower realization, muted demand dent Q2 earnings
The net sales declined by 7.9% on YoY basis to Rs2493 crore. The decline in the revenue is on account of decrease in the realization by 9% YoY to Rs4239 per tone. However, volume for the quarter rose by 1.6% to 5.88 million tonnes. In addition to the lower realization, the cost pressure has also continue to remain higher which resulted in to contraction in the operating profit margin. Consequently the operating profit has declined by 36.2% YoY to Rs366 crore.
                                                                                                                                                                                                                                                        
• Aurobindo receives final approvals for Esmolol Hydrochloride Injection
Aurobindo Pharma has received final approvals from the US Food & Drug Administration ( USFDA) to manufacture and market Esmolol Hydrochloride Injection, 100mg/10mL.
Aurobindo now has 13 ANDAs (represented by 10 product classes) approved out of Unit IV formulation facility in Hyderabad, India for manufacturing general injectable products. Positive for the company.

• IRB Infra achieves financial closure for Kaithal Tollway project
IRB Infrastructure Developers announced that Kaithal Tollway, wholly-owned Subsidiary of the Company, has achieved financial closure in terms of the Concession Agreement executed with NHAI, by tying up of Project finance of Rs1,400 crore. The total cost of this project is Rs 2290 crore, out of which Viability Gap Funding from NHAI will be Rs234 crore, equity contribution by the Company will be approx. Rs656 crore and remaining will be funded through Project finance of Rs1,400 crore.
                                                                                                                                                  

INDIAN EQUITY MARKET OUTLOOK-28 JULY 2015

Nifty Futures Tips

INDIAN BENCHMARKS  are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 26 points higher.                                                  
                                      
Headlines for the day:
Info Edge reports weak Q1 earnings; Net Profit down 28%
Coromandel Intl consolidated net profit at Rs14.47 crore
MRF reports 94% growth in PAT to Rs447 crore

Results on July 28, 2015
GSFC, HDFC, Tata Communications, PI Industries, Pidilite Industries, Thermax, IDBI Bank, Union Bank of India, Maruti Suzuki, Syndicate Bank, Bank of India, Shriram City Union Finace, PNB, Dish TV.
                                                                                                                                                                                                                                                  
Trend in FII flows: The FIIs were net  sellers of Rs  -859.94 Cr in the cash segment on Monday while the DIIs were net buyers of Rs   238.66 Cr, as per the provisional figures released by the NSE.

CS ROCKING PERFORMANCE OF THE DAY-27 JULY 2015

Nifty Futures Tips

STOCK FUTURES:

FUTURES INTRADAY:
ENGINEERS INDIA  FUTURES  SELL  CALL  3  TGT
UBL  FUTURES BUY CALL  2  TGT
SRTRANSFIN   FUTURES  SELL  CALL  2 TGT
                                                                                                            
PREMIUM FUTURES:
M&M FIN  FUTURES  BUY  CALL  1 TGT (ON HOLD)

NIFTY FUTURES:
NIFTY  FUTURES  SELL  CALL  2  TGT

OPTION:
TATA STEEL PUT  260   BUY  CALL 3 TGT 
NIFTY  PUT  8600  CALL  BUY  CALL 3 TGT 
BAJAJ AUTO 2500  CALL  BUY  CALL  1 TGT 

OPTION PREMIUM:
CANBK  270 PUT BUY CALL 1 TGT 


STOCK CASH:

STOCK CASH INTRADAY:
TATAELXSI  BUY  CALL  3 TGT
LAMBODHARA   BUY  CALL  3  TGT 
MRF   BUY  CALL  2  TGT 
IBULHSGFIN  BUY  CALL  2  TGT 
GEOMETRIC LTD  BUY CALL 1 TGT
CENTURYTEXTILE  BUY CALL 1 TGT
TATAELXSI  2NDBUY  CALL  1 TGT
TATAELXSI  3RD BUY  CALL  1 TGT
TIL  BUY CALL 1 TGT

STOCK CASH PREMIUM:
UBL  LTD   BUY  CALL  1 TGT 
TATAELXSI   BUY  CALL  1 TGT 


INDIAN EQUITY MARKET WRAP UP-27 JULY 2015

Nifty Futures Tips

INDIAN BENCHMARKS marks biggest one-day percentage fall in nearly 2 months
                                                                    
INDIAN EQUITY BENCHMARKS  fell nearly 2 percent on Monday, its biggest one-day percentage loss in nearly two months, on China's stock market rout and concerns that possible stricter norms for participatory notes back home may hit foreign investments. The S&P BSE Sensex and CNX Nifty ended 1.96%-1.88% lower each.
                                                   
Headlines for the day:
Info Edge reports weak Q1 earnings; Net Profit down 28%
Coromandel Intl consolidated net profit at Rs14.47 crore
MRF reports 94% growth in PAT to Rs447 crore        

Results on July 28, 2015

GSFC, HDFC, Tata Communications, PI Industries, Pidilite Industries, Thermax, IDBI Bank, Union Bank of India, Maruti Suzuki, Syndicate Bank, Bank of India, Shriram City Union Finance, PNB, Dish TV.
                                           

TOP CORPORATE NEWS-27 JULY 2015

Nifty Futures Tips

• Hero MotoCorp planning to buyout Erik Buell Racing
Hero MotoCorp (Hero) is looking to buyout Erik Buell Racing (EBR) its Us based technology partner. In 2013, Hero had picked up a 49.2% stake in EBR at Rs150 crore.
However, due to financial difficulties EBR had filed for bankruptcy in April’15. This had jeopardized some of Hero’s projects such as the HX250R and the Hastur showcased in Auto Expo 2014.

• SpiceJet marks 52-week high on stake sale plans
Shares of SpiceJet rallied 5% to Rs25.20, extending their previous day’s 3% gain on the BSE, after the company said that a few parties approached it and evinced interest in making investments.
The stock hit a high of Rs25.50 and is now slightly away from its 52-week high of Rs25.70 touched on February 25, 2015 on the BSE.

• ONGC plans to invest $8.8 billion in KG-basin
 ONGC plans to invest over USD 8.8 billion in bringing to production KG-basin oil and gas discoveries by 2018-19.

• Railways project worth Rs81,459 cr to be completed by 2019
  Railways 'Dedicated Freight Corridor' project worth Rs81,459 cr to be completed by 2019 – Positive for wagon manufacturers like Texmaco, Titagarh, BEML.

• Tata Power eyes Africa, S-E Asia, SAARC for growth
Tata Power to evaluate investment opportunities in Africa, Turkey and West Asia, South-East Asia and the SAARC region. In line with its international strategy, the company is to continue to assess favorable circumstances to scale up its generation capacity. 

• IndusInd Bank completes acquisition of Diamond financing
IndusInd Bank announced that the Bank has completed the acquisition of the Diamond & Jewellery financing business and related deposit portfolio of Royal Bank of Scotland N.V. in India. The acquired loan portfolio is approximately Rs 4100 crore.
                                                                                                                                                  
• Nestle India surges in weak markets
Shares of Nestle India rose 4% to Rs 6269.50 on the National Stock Exchange (NSE) in otherwise weak markets after the company on Friday, July 24, 2015, after market hours Nestle India announced that Mr. Etienne Benet, managing director, is leaving the company with effect from July 25, 2015 and will be relocating to Nestle Group head office in Switzerland.

• ITNL secures Rs2288 cr project from NHAI
IL&FS Transportation Networks Ltd ( ITNL) has bagged Rs 2,288.18-crore worth project from NHAI for four-laning of Amravati-Chikhli section of NH-6 in the state of Maharashtra.
The company has been awarded the project through issuance of a letter of award dated July 24, 2015 by NHAI. The company had quoted a grant of Rs183.05 crore for project.



INDIAN EQUITY MARKET OUTLOOK-27 JULY 2015

Nifty Futures Tips

INDIAN BENCHMARKS  are likely to open on a negative note as the global cues look unsupportive with SGX Nifty trading 51 points lower.                                                  
                                      
Headlines for the day:
Sun TV: Delhi HC allows Red FM to take part in Radio Phase III auctions
Government to offload 5% stake in PFC today at Rs254/share
Hero MotoCorp planning to buyout Erik Buell Racing

Results on July 27, 2015
Century Textiles, Coromandel Intl, Ambuja Cement, MRF, Torrent Pharma., Tech Mahindra, Info Edge, KEC Intl., Just Dial

Trend in FII flows: The FIIs were net  buyers of Rs  6.62 Cr in the cash segment on Friday while the DIIs were net sellers of Rs   196.38 Cr, as per the provisional figures released by the NSE.

Market Commentary & Stock To Watch-27 July 2015

Key benchmark indices dropped sharply on last trading day of the week. After trading with small losses in first half of the day's trade, key benchmark indices extended fall and hit fresh intraday low in late trade. The barometer index, the S&P BSE Sensex was provisionally off 229.67 points or 0.81% at 28,141.17. The market breadth indicating the overall health of the market was negative. Key benchmark indices edged lower today, 24 July 2015, as complete washout of Lok Sabha proceedings in the first week of the monsoon session, because of a political tussle between the National Democratic Alliance (NDA) government and the Congress party triggered concerns about the passage of key reform bills.

STOCKS TO WATCH



TATAMOTORS:  
Buy TATAMOTORS above 395 stock may show some good rally we may see 410/420 level in coming days.

CEAT
Buy CEAT above 760 stock may show 790/800 level, remain below 760 more down side is expected.

ACC:
Sell ACC below 1460 we may see 1420/1390 level as remain below 1460 levels.

Today’s view on Nifty-27 July 2015

 Nifty levels: 
Nifty spot close @8521

Nifty future close @8540
Nifty future closed around its support level, no selling remain above 8520 keep buying, we may see buying from lower level.

INDIAN EQUITY MARKET OUTLOOK-24 JULY 2015

Nifty Futures Tips

INDIAN BENCHMARKS  are likely to open on a flat to negative note as the global cues look mixed with SGX Nifty trading 10 points lower.                                                  
                                      
Headlines for the day:
Star Ferro and Cement Q1FY2016 earnings grow by 70.7% YoY
Bharti Infratel Q1FY16 earnings In line performance; appoints Citi for ADR listing
Ceat Ltd Q1FY16 results: Fall in raw material cost drives profitability

Trend in FII flows: The FIIs were net  buyers of Rs  185.42 Cr in the cash segment on Thursday while the DIIs were net sellers of Rs   -276.69 Cr, as per the provisional figures released by the NSE.

Market Commentary & Stock To Watch-24 July 2015

IT and cement stocks led losses for key benchmark indices. Benchmark indices witnessed intraday volatility. The barometer index, the S&P BSE Sensex, was provisionally off 143.41 points or 0.5% at 28,361.52. The market breadth indicating the overall health of the market was positive.

STOCKS TO WATCH



TATAMOTORS:  
Buy TATAMOTORS above 395 stock may show some good rally we may see 310/320 level in coming days.

HINDALCO
Buy HINDALCO above 111 stock may show 115/118 level, remain below 111 more down side is expected.

ACC:
Sell ACC below 1460 we may see 1420/1390 level as remain below 1460 levels.

Today’s view on Nifty-24 July 2015

Nifty levels: 
Nifty spot close @8589

Nifty future close @8604
Nifty future closed around its resistance level, so we may see little profit booking and nifty may show 8520-8550 level, buy keep buy on dips no selling will be advisable.