08-02-2013

NIFTY TREND REPORT:

YESTERDAY NIFTY HAS CLOSED VERY MUCH BELOW 50 DMA. BREADTH HAS WEAKENED FURTHER. IN THIS WEEK FIRST TIME FIIs HAVE GONE LONG/OR COVERED THEIR SHORT POSITIONS OF INDEX FTURUES.  vise versa  THEY HAVE SOLD EQUITY POSITIONS. OUR DIIs CONTINUED TO SELL EQUITY STOCKS. EVEN THOUGH FIIs IN LONG TOTAL CASH FLOW TO BUSINESS IS POOR. THIS INDICATES FIIs HAVE ONLY COVERED THEIR SHORT POSITIONS. OI POSITIONS GAP FILLING TECHNICAL INDICATES BUY @ LOWS. CAN GO NIFTY LONG @ 5900 (SPOT) WITH SL 5880 FOR INTRA DAY. BUT UNLESS MARKET CLOSED ABOVE POSITIONS CARRYING IS NOT ADVISABLE IN LONG SIDE. RANGE COULD BE 5900-5970.

SPOT NIFTY LEVELS:

PIVOT: 5948

RESISTANCE: 9969/5999/6020

SUPPORT: 5918/5897/5867

STOCKS TO WATCH:

STOCKS TO WATCH: CEAT, KSERA, GOLDSTONE, TATACHEM, BHUSHAN, EDELWEISE, STFC, AMBUJA, BAJAJAUO, DEWAN HOSUING, IBREAL, ICICI, NITIN FIRE, RELINFRA, BGR, CROMPTON, GAIL, HINDCOPPER