MARKET TREND - ROARING STOCKS:
Yesterday also we witnessed profit booking in all most all sectors, except IT, Medical sectors. But Nifty
has not break the previous day lows, which indicate the buying also
happened in selective strips. FIIs are net sellers in Derivatives and
Equity Segment for worth of 1270 and 203 cr respectively. But marginal
buyers of 187 Index Futures contracts 15.56cr (1973 longs sold and 2160
shorts contracts have squared off) by increasing 4133 contracts. Due
to mid cap and small cap non participation, market breadth also closed
in negative. Rupee also marginally weak. As new Govt. already started
working on cash flows and giving feelers for development, market may
wait for its impacts and play range bound for some time.
Today
Nifty may open flat in line with Peer Markets and get support from it
lows and likely to close in plus. As tomorrow is Near Derivative
Contracts going to expire, market volatility can't be ruled out. Nifty
likely to get support at 7270/7300 and may close at 7380 level.
NIFTY SPOT LEVELS:
Pivot: 7321
Resistance: 7369/7420/7467
Support: 7270/7223/7172
NIFTY FnO BAN: UNITECH
STOCKS FOR DAY:
IT Sector looks more prospective for trading with Strict SL
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