MARKET TREND:
NIFTY SPOT LEVELS:
Pivot: 6280
Resistance: 6301/6323/6345
Support: 6257/6237/6214
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
RCOM EQ: SELL < 131 TRG 129/128 SL 132.50
JSW SL EQ: BUY > 997 TRG 1008 SL 986
CAIRN EQ: SELL < 321.50 TRG 318 SL 324
YESTERDAY DERIVATIVES' SERIES HAS CLOSED IN POSITIVE. MIDCAP PARTICIPATION IS BECOME SUPPORTIVE TO MARKET TO CLOSE IN GREEN, EVEN THOUGH THERE IS PROFIT BOOKING IN OVER BOUGHT STOCKS. SOME THE SECTOR NEWS, POWER AND OIL DISTRIBUTION SECTOR ALSO BECOME ADVANTAGE TO CLOSE THE SERIES IN GREEN. DERIVATIVES OI RANGE IS PUSHING VOLATILITY INDEX ALSO TO MORE BROADER RANGE. SINCE TODAY IS WEEK END ALONG WITH QUARTER ENDING (AS PER SETTLEMENT), POSITIONAL TRADERS MAY SQUARE OFF THEIR POSITIONS AND KEEP OPEN FOR NEXT QUARTER WITCH IS GOING TO BE NEWS & RESULTS DRIVEN.
TODAY MARKET MAY OPEN WITH NEGATIVE BIAS TO NEUTRALISE EXCESS PREMIUM AND IN LINE WITH PEER MARKETS (SGX NIFTY TRADING @ MINUS). NIFTY LIKELY TO GET SUPPORT AT 6250/6260 LEVEL AND MAY CLOSE FLAT.
Pivot: 6280
Resistance: 6301/6323/6345
Support: 6257/6237/6214
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
RCOM EQ: SELL < 131 TRG 129/128 SL 132.50
JSW SL EQ: BUY > 997 TRG 1008 SL 986
CAIRN EQ: SELL < 321.50 TRG 318 SL 324
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