MARKET TREND:
Bulls
are very anxious in Creating New Highs by utilising all
opportunities. Money Power (cash inflow) is Dominating all Technical
Guidelines and embarrassing Bears. Friday FIIs have bought 21.2k Index
Futures' contracts worth of 716.44 cr. by buying 1753 Long contacts and
19530 shorts covering. Derivatives OI also increased by 17777.
Without disturbing Minor Support area of 6660, Nifty has closed with 104
pts plus. It has turned all short term technicals to positive like:
breadth to positive, OI of derivatives base to 6700, closing above trend
line and increasing derivatives OI and so on.... As Traders playing
Out of range 7000 CE and 6000 PE Options of May month and Vix Mean
Averages (22 pts) are giving hope that: Nifty will be going to touch
6900-7000 level in new series (May Series). As series closing was much
shortened with election holiday, traders should be more cautious with
their SL to face the incoming Volatility.
Today
market will open with positive note (gap up), in continuation to
Friday's Positive spell, Peer Market's support and to acknowledge
Reliance to its Positive Results.
NIFTY SPOT LEVELS:
Pivot: 6749
Resistance: 6814/6848/6912
Support: 6715/6650/6615
NIFTY FnO BAN:
HDIL & UNITECH
STOCKS FOR DAY: (MOMENTUM TRADES ARE ADVISABLE)
RELIANCE, HINDALCO, IRB INFRA, LICHSG, RECL & JINDAL STEEL
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