MARKET TREND - ROARING STOCKS:
Nifty
had consolidation move and closed with respectable points. Present
Indian Political and Economical climate setting positively to Sustain
and Improve further. Stock Market Values are not bubbled. PCR shows
still oversold situation. Derivative OI range is in between 7000-8000
with active range of 7300-7400. Nifty has all set to test its near
high (which set on election results day). Bank Nifty majorly
supporting even though most of the Individual Stocks have made Decent
Journey. As most of the individual stocks (book values and PE values)
are supportive to have further journey, Investors can choose specific
stocks. On Friday, FIIs are net sellers of 12029 contract in Index
Futures worth of 444.39cr (16215 longs squared off and added 4186
shorts) and Long in Equity segment for worth of 417 cr. and DIIs are
net sellers woth of 136cr. Market breadth is positive, which indicate
sustained involvement of retailers/value buying.
Today
Nifty likely to open with positive note and get adjust depend upon the
Cabinet Portfolios and expectations. Traders are suggest to have
strict SL to save guard their trading money.
NIFTY SPOT LEVELS:
Pivot: 7347
Resistance 7400/7434/7487
Support: 7313/7260/7226
NIFTY FnO BAN: DISH; IBREAL & HDIL
STOCKS FOR DAY:
(SHORTS) IGL, HAVELLS
(LONGS) SUNPHARMA, JSWHL, POLARIS, ERAINFRA, ESSDEE.
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