MARKET TREND - ROARING STOCKS:
Yesterday
Nifty played more neutrally than wild. Market breadth was improved,
because of Mid cap and Small cap participation and profit booking was
witnessed in selective Large cap stocks. FIIs have bought 19317
contracts worth of 714.44cr in Index Futures ( 34694 longs and 15377
shorts), but they are net sellers in Equity and Equity Futures for
worth of 286.54 and 341.85cr respectively. Since value buying is
happening, market become range bound and consolidation note. As Nifty
rollovers are good and public mood is in upbeat, some more days market
likely to be range bound till 1st Parliament Sessions completes.
Today
Nifty likely to open flat with negative bias in line with Peer Markets
and likely to be up trend there after. 7300 likely to be support. Day
traders can go long with 7280 SL for the target of 7350/7370. Once
7280 breaks 7140 will be reliable support for Nifty.
NIFTY SPOT LEVELS:
Pivot: 7325
Resistance : 7349/7368/7391
Support: 7306/7283/7264
NIFTY FnO BAN: HDIL; UNITECH
STOCKS FOR DAY:
SHORTS: HINDALCO; APOLLO TYRES
LONGS (POSITIONAL): ZYDUS WELL; SUPRAJIT ENG; RECL
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