MARKET TREND - ROARING STOCKS:
Nifty
faced one more consolidation day with positive Buying. FIIs have Sold
marginally in Equities and Derivative Sector for worth of 295 and 9 cr
respectively. But DIIs have bought 203 cr in Equity Market. In Index
Futures also FIIs have Bought 10707 contract for worth of 394.85 cr by
adding 12450 long contracts and shorting 1743 contracts, which OI
increased by 14193 contracts. As we mentioned earlier Nifty's up
movement is due to try its earlier range of 7500-7600, which may happen
today or Monday with Ministry Swearing Ceremony is due on 26th.
Derivatives OI range is intact between 7000-8000 with active range of
7200-7400. As mid cap participation continued, the market breadth also
in positive. As profit booking also happening in selective indices
like IT and Pharma, cash flow indices are running with negative
divergence.
Today Nifty likely to
open with positive note and likely to close with positive points.
Positional Traders can go long with 7220 SL.
NIFTY SPOT LEVELS:
Pivot: 7285
Resistance: 7311/7346/7373
Support: 7250/7223/7188
NIFTY FnO BAN: DISH & IBREAL
STOCKS TO WATCH:
CPIL, TATAMOTORS (LIKELY NEGATIVE SIDE)
MPS INFRA, UNITECH, KOLTEPATIL, POCHIRAJUIND.
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