MARKET TREND:
Yesterday
Market moved within the range as we mentioned. Also Old Positions
were covered and fresh Longs accumulated by FIIs at lower levels in
Index Futures. FIIs have bought 5559 contracts for the worth of
156.89cr (11106 contracts in long and 16665 shorts squared off) by
pushing 27771 no. of OI contracts. Nifty & Sensex closed in Red
along Poor Market Breadth, as FIIs (marginally) and DIIs are net sellers
In Equity & Derivatives Sectors. As we are nearing Derivatives
Settlement Session, with more holidays, we have to be careful in
calculation of Premiums and Cost of Carry Forward and continue Trades.
Also as Corporate Result announcements are active along with on going
Election News, Stock Specific News also will be flowing, which to be
taken care with Strict SL. So long 6650 holds on closing basis, Nifty
Uptrend will be intact, otherwise Nifty has to search its support at
6575 levels. To note, Today Wipro Results and Tomorrow (market holiday)
Reliance Results.
Today
Nifty likely to open flat with positive bias in line with our Peer
Markets and yesterdays Europe Markets. Market likely to get resistance
at 6725/6740 levels. Day traders can go short at Market highs, with
6770 SL for negative clsoing/pivotal as target. Wish you Happy Long Week End.
NIFTY SPOT LEVELS:
Pivot: 6644
Resistance: 6727/6770/6811
Support: 6645/6610/6580
NIFTY FnO BAN:
UNITECH & LNTFH
STOCKS FOR DAY:
MAHARASTRA SEAMLESS EQ: SELL < 248 TRG 232 SL 260
ZEE NET EQ: BUY > 269 TRG 272/278 SL 265 (273 IS 50 DMA)
CENTURY TEXT EQ: SELL < 366 TRG 354 SL 373
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