Sunday, February 23, 2014

24-02-2014 MARKET:

MARKET TREND:
Friday Market went for Short Coverage and covered almost all Thursdays' Minus.   Nifty holds its 20 DMA.  This Week Derivative Settlement is scheduled to Wednesday in view of Maha Sivaratri Holdiay on Thursday.   Friday is scheduled for GDP Nos.   Nifty resistance is at 6180/6260 (gap fill area).   Since OI went on Minus irrespective of short coverage, Nifty may go for correction at Day High.  Positional Traders are likely to utilise opportunities for Roll Over in these 3 Trading Sessions, Volatility likely to maintain.

Today market likely to open with Negative bias in line with Peer Markets.  Since Nifty Support lies at 6100 level, day traders can go long with 6090/6080 SL.

NIFTY STOP LEVELS:
Pivot: 6141
Resistance: 6174/6192/6225
Support: 6122/6090/6070

NIFTY FnO BAN: AURBINDO

STOCKS FOR DAY:
ICICI BANK EQ: BUY > 1025 TRG 1034 SL 1014
JSWSL EQ: BUY > 880 TRG 895 SL 871.5
CENTURY TEXT EQ: BUY > 314 TRG 319 SL 311

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