MARKET TREND:
YESTERDAY
MARKET HAS MOVED AS PER OUR EXPECTATIONS. EVEN THOUGH RBI SURPRISED
WITH RATE EFFECT, TRADERS HAVE NOT MUCH PANICKED AND RATHER THEY WENT
FOR VALUATION OF THEIR PORTFOLIOS. AFTER LONG TIME, DIIs HAVE BOUGHT
GOOD VOLUME OF STOCKS AND PUT THE BREAK FOR SLIDING OF NIFTY. TOO MUCH
DECLINE IN OI (ALMOST 45%) AND LOOSING 180 PTS. FROM LAST ONE WEEK, IS
DUE FOR RECOVERY. BUT AS ALMOST CORPORATE RESULTS ARE AT END, RECENT
GOVT. AGENCIES ACTIONS RBI RATE INCREASE, SEBI'S FPI ACTION AND INCOMING
BUDGET SESSIONS WILL KEEP THE SHORT TERM INVESTORS AWAY FROM TRADE.
TODAY
MARKET MAY OPEN FLAT AND MAY WITNESS RANGE BOUND MARKET TO MEET
TOMORROW'S DERIVATIVE SESSION CLOSING. YESTERDAYS HIGH MAY ACT AS
RESISTANCE.
NIFTY SPOT LEVELS:
Pivot: 6125
Resistance: 6165/6203/6242
Support: 6087/6045/6010
NIFTY FnO BAN:
HDIL
RANBAXY
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