Yesterday Market taken more
consolidation by respecting Elliot Wave and Fibonacci support of 6650
for 5th day. FIIs have squared off their Index Futures 10114 Long
contracts and added 3025 shorts and kept open them selves to be buyers
at lower levels. PCR No.0.70 which indicate oversold status and other
Options OI data confirms (6300 PE, 6800 & 7000 CE changes) this
view. Options OI range is intact between 6500-7000, along with the
present support of 6650. If the Nifty breaks 6790/6800, we can hope for
the new bullish trend in short term.
Today
Nifty likely to open flat to negative and try to get support @ 6680 to
establish for positive trend and to close in positive.
NIFTY SPOT LEVELS:
Pivot: 6720
Resistance: 6739/6767/6780
Support: 6696/6678/6655
NIFTY FnO BAN: REL CAPITAL
STOCKS FOR DAY:
HOLIO & MATH EQ: SELL < 82 TRG 78 SL 88
AARTI IND EQ: BUY > 151 TRG 154.50 SL 147
TITAN EQ: BUY > 269 TRG 280 SL 260
JAYANT AGRO EQ: BUY > 116 TRG 131 SL 109
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