MARKET TREND:
Yesterday Bulls have taken back and forced Nifty to close its Below Trend Line
Support. Now Nifty may try to get support @ 6650 once it cross 6695.
Yesterday FIIs started adding shorts to Index Futures by selling 30696
contracts (17574 longs squared off and 13122 shorts added) by decreasing OI by 4452 contracts. Now Nifty may try to test 6780/6800,
before it goes for its ultimate support levels. Since Derivatives OI
range is between 6700-6800 bulls will try get back their hold till
Election Results. Since technically market is week and India Vix is
almost at its near highs, Traders may cover their shorts at day low of 6690/6650 level and bottom fishing/pull back rally can't be ruled out.
Today market may open flat/negative bias in continuation to yesterdays correction, and try to get consolidate.
NIFTY SPOT LEVELS:
Pivot: 6752
Resistance: 6794/6855/6895
Support: 6692/6651/6590
NIFTY FnO BAN:
UNITECH & LNTFH
STOCKS TO WATCH:
LONGS: BIOCON, EXIDE,
SHORTS: TITAN, DISHTV
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