Wednesday, May 21, 2014

22-05-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARINGSTOCKS
Yesterday also Nifty got consolidated by giving nominal points.   FIIs are net buyers in Index Futures for 7186 contracts worth of 264.65cr.  They have added 16344 Longs and 9158 Short contracts.  But both FIIs and DIIs are net sellers in Equity Segment for worth of 266 & 439 cr respectively.   Due to Mid Cap and Small Cap participation Market breadth has improved.   In Derivatives, Options range is intact between 7000-8000 by active range of 7300-7200.   As market has got consolidated from last 3 days and bottom was established, Nifty may take upper Momentum in a day or two to test 7500/7550 level.

 Today Nifty likely to open positive in line with Peer Markets and try to break the immediate resistance of 7300 level and by end of the day may close flat with positive note.

NIFTY SPOT LEVELS:
Pivot: 7249
Resistance: 7291/7329/7372
Support: 7210/7168/7130

NIFTY FnO BAN: DISHTV & UNITECH

STOCKS FOR DAY:
TATA YODO; MOTHERSON; APOLLOTYRES;  RECL; NHPC; TILAKNAGR IND; BAJAJCORP; ELNET

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