01-07-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Market moved against its Technical Direction and closed in Positive.   But FIIs are net sellers in Index Futures 8477 contract worth of 324.23 cr. (added 4056 shorts and squared off 4421 longs by decreasing OI nominally 365 contracts)   But they are net buyers in Equity Segment by 1288 cr which taken the market breadth to positive along with selective stocks.  Adding shorts in Index Futures by FIIs are not good sign for market.   If they have not gone for short coverage today, market may test its recent lows.

Today market likely to open with positive note in line with SGX Nifty and likely to be range bound.  As HSBC economic data likely to be negative market also likely to respond negatively to news and there are short coverage likely to take place.

NIFTY SPOT LEVELS:

Pivot:: 7589

Resistance 7646/7681/7738

Support:  7554/7496/7462

NIFTY FnO BAN: NIL

STOCKS FOR DAY:

IRB, DHFL, CESE

30-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Friday Nifty moved in range bound and got its premiums against it spot prices.  Also many Low Beta and Low PE stocks have been picked by positional traders and investors.    Even though many Indices closed with positive note Nifty left with Red Candle, which indicate that cash flows are in negative.   But Nifty neither broken the previous days' low nor the Trend Support level of 7440.  Also Market Breadth was closed with positive note, which indicate that: bottom fishing or value buying is happening.  Friday FIIs are net sellers in Index Futures for 285 contracts worth of 10.15 cr. FIIs squared off 3052 longs and 2767 shorts by decreasing 5819 contracts.   Fiis are net buyers in Equity segment for 182.55 cr. and DIIs are net sellers for value of 172.40.

This week (July 1st) HSBC manufacturing data, News related to Budget and Economic Survey and Monsoon would be driving the Market.  Mostly we can see Stocks Specific action.

Today Market likely to be open Flat and may be range bound and likely to close flat to negative.

NIFTY SPOT LEVELS:

Pivot: 7510

Support: 7481/7453/7424

Resistance: 7536/7566/7594

NIFTY FnO BAN: NIL

STOCKS FOR DAY:

KPIT, MAN INDUSTRIES, TATA GLOBAL, TECH MAN.

27-06-2014 MARIKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Market taken breather with profit booking.  But Up Trend was in tact with out breaking 7440 level.   Yesterday FIIs are net buyers in Index Futures by going Short Coverage of 77922 contracts and adding shorts of 73875 contracts by net longs worth of 4047 contracts worth of 153.70 cr.  In Equity Segment  FIIs are net sellers for worth of 601.89 cr and DIIs are net buyers for worth of 170.92 cr.  Due to Midcap sectors' profit booking Market Breadth was closed in Negative.  But PCR was reduced to 0.84 from its 0.95 level, which indicate market was pulled to over sold zone.   In new series Derivatives OI range was increased to 7000-8000 along with active range of 7500-8000.   As we are going to get lot of news related to Budget and Economic Survey in coming 2 weeks, Market volatility likely to increase in coming day advise traders to go for trade with strict SL.

Today Nifty likely to open flat in line with SGX Nifty and try to test its support at 7440/7450 level.   

NIFTY SPOT LEVELS:

Pivot: 7515

Support: 7459/7426/7370

Resistance: 7549/7604/7637

NIFTY FnO BAN: NIL

STOCKS FOR DAY:

TITAN, CCL PRODUCTS, JUBILAT, OMMETALINFRA.

26-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Nifty was little volatile and closed in negative due to week data/support from Europe Market.   Yesterday FIIs have added 17362 Longs and 12832 Short Contracts in Index Futures by netting 4530 contracts worth of 177.82 cr in Buying.  In Equity Segment aslo FIIs are in Long by 695.63 cr and DIIs are net sellers for worth of 433.63 cr.   Market Breadth is in positive, due to Mid cap stocks participation.  Derivative PCR reached almost to neutral status (0.95).   Even though money flow indicators are in positive volume indicators is having negative divergence.   As today is Near Derivative Contract Session is getting expire, obviously volatility will be there in Nifty.   As Nifty is countering Trend Line Resistance at 7600 level and active derivatives' higher side OI is also at 7600, this level should be watched.   Unless Nifty gets volume break, Nifty may not able to cross 7620/7640 level.

Nifty may open flat and Economy related news like Postponing Gas Price and allowing PF funds to more in Equity Funds may force Market to range bound.

NIFTY SPOT LEVELS:

Pivot: 7572

Resistance: 7587/7605/7620

Support: 7554/7539/7522

NIFTY FnO BAN:

DISH, UNITECH, GMR INFRA, IBREAL

STOCKS FOR DAY:

25-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Nifty has continued its consolidation, after taking support (day before) from 7440 level.   FIIs are net buyers of 16287 Index Future contracts worth of 623.57 cr.   They added 20651 Longs along with Short of 4364 contracts  Derivatives over all  (futures & options) OI has been increased by 25015 contracts.  But Nifty Index Futures OI has been reduced to recent (5-5-14)  low level of 1.31 cr.  In Equity Segment also FIIs are net Buyers of 284.61 cr and DIIs are net Sellers of 216.17cr . Market over all Breadth also improved. News floating regarding: Govt. Economy improvement measures are supporting to many sectors.   Market not taken negatively the Freight Increase and Gas Prices increase.    Dealing with Bottle Necks are being taken positively by the Financial Analysts and Rating Agencies and go on supporting Indian Market. 

Nifty likely to open Flat in line with Peer Markets and likely to get witness accumulation buying in selective stocks and likely to close in positive.  Iraq war news and US's GDP data my poise trend and may force Nifty to play in range.

NIFTY SPOT LEVELS:

Pivot: 7562

Resistance: 7610/7641/7689

Support: 7532/7484/7454

NIFTY FnO BAN: 

GMR INFRA, HDIL, IBREAL & JAIPRAKASH

STOCKS FOR DAY:

LANDMARK PROP; ESSDEE; JAYAGRORG; OMKARCHEM 

NOTE: NBFCs like recl, pfc, hdfc are likely to be in positive.

24-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND-ROARING STOCKS:

Yesterday Nifty has taken its Trend Line Support, which we are mentioning from last 2 weeks.   Also it has completed its ABC support theory.   Now it is due for up move, which may it counter smaller resistance at 7520 level.  As this week is Derivatives Near Series closing week, volatility will continue.   Yesterday FIIs have added 11978 Longs and 12436 Shorts in Index Futures by recording Net Selling of 458 contracts for worth of 15.28 cr.  In Equity Market also FIIs are net sellers for 214.49 cr and DIIs are net buyers for the worth of 117.43 cr.   As we saw bottom fishing at Trend Support, Market Breadth was improved.  As Derivatives OI range is between 7500-7600 Nifty could be hold at this range for time being.

Today Nifty likely to open with positive note in continuation to yesterdays' pull back and likely to get resistance at 7620/7640 level.

NIFTY SPOT LEVELS:

Pivot: 7490

Resistance 7539/7583/7631

Support: 7446/7396/7351

NIFTY FnO BAN:

GMRINFRA, HDIL, JAIPRAKASH, IBREAL

STOCKS FOR DAY:

MUKAND ENG, LNTFH, DISHTV, GTLINFRA.

23-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Friday we all witnessed profit booking in view of position square off and week end position closing in view of Iraq Tensions.   Off late Govt. increase in Transport Charges also weaken sentiment.   As we have entered in last week of near future session, profit booking or roll over is inevitable and market likely to be volatile.  As per PCR (0.82) Market continuing its below sold status.  Friday FIIs are marginal buyers in Index Future Contracts worth of 41 cr 1027 contracts.   FIIs are net sellers in Equity Market worth of 220.65 cr and DIIs are net buyers worth of  73.85 cr.  On daily charts Nifty has near support at 7511, after 7440/7450 and near time support at 7350.   Immediate Resistance at 7620 level.  Once 7350 breaks next support for Nifty lies at 7200 level.

NIFTY SPOT LEVELS:

Pivot: 7523

Resistance: 7549/7585/7613

Support: 7485/7460/7422

NIFTY FnO BAN:

DISHTV, HDIL, IBREAL, LNTFH,  GMRINFRA

STOCKS FOR DAY:

LONGS: PANTALOON, SUVEN LIFE,

SHORTS: ADANI ENT; DELTA CORP,

20-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday market was volatile as we expected, but closed in negative due to oil price worries.   Time being Nifty's upper limit is shrinking.  Nifty Derivatives upper resistance reduced to 7600 from its 8000 level, within 2 trading days.   Bottom was intact at 7500 level with immediate support of 7440/7450 level.  Since cash flows are intact to our market every fall could be an opportunity to buy for Long Term & Mid Term Investors.   Yesterday FIIs are net sellers of 12146 Index Futures (added 2778 longs and 12146 shorts) by increasing 17702 OI contracts.   Even though FIIs are added Shorts; that have been hedged with Index Options worth of 1296 cr.  Both FIIs and DIIs are net sellers in Equity Segment.  Market Breadth is in negative due to retailers sales.

Today Nifty likely to open flat and go for range bound trading.  Once 7440 breaks Nifty may go further down.

NIFTY SPOT LEVELS:

Pivot: 7550

Resistance: 7597/7597/7654

Support: 7493/7446/7389

NIFTY FnO BAN:

 DISHTV, GMRINFRA, HDIL, IBREAL, UNITECH, LNTFH

STOCKS FOR DAY:

LONGS: ITC, HDFC

SHORTS: IDEA, TATAGLOBAL, JAICORP, APOLLOTYRES

19-07-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING  STOCKS:

Yesterday Nifty had hectic day due to Iraq unrest and attacks on oil fields.    Still with out breaking previous days low it has losses 74 points.   FIIs are net buyers  (5729 Index Future Contracts by Square off 9774 longs and 15503 short contracts) for worth of 216.13 cr. In Equity Segment also FIIs and DIIs are in long side.   As market become cautious Market Breadth was in Negative.   Derivatives Higher Level OI reduced 7700 from its 8000 level.  But bottom was intact at 7500.  Active range of OI also intact between 7500-7700, Market closing in Minus and Adding Index Futures indicates that; Nifty likely to be plus in near future.  As we are nearing Derivatives Near Months Session closing, market volatility likely to continue, which in order CE & PE premiums will be narrowed.

In line with Peer Markets, our Nifty also likely to open with positive note and likely to be positive by witnessing buying at every lows.

NIFTY SPOT LEVELS:

Pivot: 7579

Resistance: 7642/7726/7790

Support: 7494/7431/7347

NIFTY FnO BAN: DISH, IBREAL, UNITECH, LNTFH

STOCKS FOR DAY:

TVS MOTORS, IDEA.

17-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Nifty gained more than its Technical value and got 2nd confirmation of its support of 7450 level.  FIIs are net sellers in Index Futures by selling  4861 contracts (sold 1330 longs and adding 3531 shorts) worth of 189.73 cr.   In Equity segment they bought minimum value of 48 cr and DIIs sold worth of 236.79 cr.   Nifty likely to get smaller resistance at 7650/7655 before it testing 7700.   In case nifty cross 7700, next target could be 8000 level in near future.  Cash flows are continuing, in every lows buying is witnessing. Yesterday also we witnessed over all Indices Participation and improvement in  Market Breadth.

Nifty likely to open positive and likely to volatile and may continue its buying spell.

NIFTY SPOT LEVELS:

Pivot: 7593

Resistance: 7676/7721/7805

Support: 7548/7485/7420

NIFTY FnO BAN: DISHTV, IBREAL, LNTFH, UNITECH

STOCKS FOR DAY:

CHAMBAL FERT, HIMAT SEIDE, BSL LTD, EKC,

17-06-14 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Nifty bounced from its support area and almost closed  flat.   Even though WPI Inflation Data is negative, Nifty taken support from 7585 level. PCR almost around 1.00 from  last 2 trading sessions.  Rupee crossed 60 mark after 5th May.   Market Breadth also closed weak.   FIIs and DIIs are net sellers in Equity Market.  But FIIs marginally added longs in Index Futures 2061 contracts worth of 78.16 cr.  (added longs 13039 and shorts 10978) by increasing OI by 24017 contracts.  FIIs adding longs and shorts simultaneously indicate that: market is un-decisive and likely to be range bound for some days.   But due to unrest in Asian Countries and Tax Payment data is flowing, stock specific action can be continued.  Derivatives High and  Low OI range is intact between 7500-8000 along with active range of 7500-7600.

Today Nifty likely to open flat and can play range bound.    Nifty likely to close marginally with positive points.

NIFTY SPOT LEVELS:

Pivot: 7523

Support: 7498/7462/7436

Resistance: 7559/7584/7620

NIFTY FnO BAN: DISHTV, HDIL, LNTFH, UNITECH

STOCKS FOR DAY:

LONGS: PETRONET, NTPC, VOLTAS,  REL CAP (ce advisable),  RAJESH EXPO

SHORT: DR. REDDY (pe advisable)

16-06-14 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Friday Nifty closed not only with Negative Bias, but also Technically Weak.   As over all profit booking seen among all Indices, Market Breadth is fallen.   FIIs are net sellers in Index Futures of 14989 contracts worth of  574.76cr.  (sold 9641longs and added 5348 shorts) by increasing 4293 in OI. But they are hedged with Index Options and Stocks Futures, which given 760 c r positive Nos.   Also they are net buyers in Equity for worth of 1099.92 cr and DIIs also net buyers.   These are indicate that: Bulls/Positional Traders are not afraid of Market, but Traders have taken advantage of negative news and went for profit profit booking. Based on Fibonacci and Derivatives OI range,  Nifty has support at 7480 for near time.   For time being Nifty active range is between 7500-7700.

With Peer Markets Influence, today Nifty may open with Negative Bias and try to get support at 7480 level. 

NIFTY SPOT LEVELS:

Pivot: 7582

Support: 7485/7428/7332

Resistance: 7639/7735/7792

NIFTY FnO BAN: DISHTV, HDIL, LNTFH

STOCKS FOR DAY:

IBREAL, PETRONET, WHYTH

13-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Nifty had one more consolidation with in the range of support.   FIIs are in Long in the segments of Equity and Index Futures.  They bought 652 cr in Equity Segment and 151.94 cr of Index Future contracts by adding 10410 longs & 6437 shorts by increasing OI by 16847 contracts.   Market Breadth maintained positive.   Rupee also gained.  PCR maintained below 1.. (0.88).  Yesterday's IIP date also positive along with inflation range.   Derivatives active range is between 7600-7700 along with highest range of 7500-8000. As we informed earlier unless Nifty closes below 7580, First level correction will not start.  If the Nifty broken 7440, 2nd level of correction will take place.    As the Nifty topped at 7700 for time being, traders should maintain these levels and may go for positional trades.

Today Nifty likely to open with negative bias and may be volatile in view of week end and likely to close in minus.

NIFTY SPOT LEVELS:

Pivot: 7634

Resistance: 7674/7698/7738

Support: 7610/7570/7545

NIFTY FnO BAN: DISHTV, IBREAL, HDIL, LNTFH

STOCKS FOR DAY:

ADFFOOD; LAKSHMI MACHINERY

12-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Nifty capped at 7700 and closed with negative bias, as we are informing from last 2 sessions.  But Nifty has not broken its 1st support level of 7580.   FIIs have added 4209 longs and 2223 shorts in Index Futures Segment by increasing OI of 6432 Contracts.   PCR was reached near to 1.00 by decreasing its Market Breadth.  FIIs and DIIs are net sellers in Equity Segment.  As Nifty technically weaken from last 2 days, obviously traders are going for profit booking.   This can be an opportunity for Positional Traders/Short Term Traders to buy stocks on lows.  As Nifty Bullish Trend will be intact till 7440/7425 broken, bulls will try to buy at every lows.   Value buying in selective strips can witness.  

Today Nifty likely to open flat with negative bias and may witness range bound market.   Nifty likely to get support at 7575 and 7520 level.   

NIFTY SPOT LEVELS:

Pivot: 7639

Resistance: 7688/7749/7799

Support: 7577/7527/7466

NIFTY FnO BAN: DISH TV, IBREAL,HDIL, UNITECH

STOCKS FOR DAY:

AMTEK INDIA,  POLARIS. KWALITY LTD (BETWEEN 45-47 WITH SL 42)

11-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Nifty had consolidation as we expected.  Also as we cautioned on longs, Nifty has made bearish candle and given alert to Bulls.   Even though Derivatives' OI range zoomed to 7500-8000 level, active range is at 7600-7700.   For a day or two, Nifty may move between these range.   If the Nifty closes > 7680 or < 7580, only next movement can be established.   If Nifty closes above 7680, Nifty may test 7750 and 7960 aslo.   If Nifty closes below 7580, Nifty may try to test 7440 level and there on next movement will start. 

Yesterday FIIs have bought 682 cr Equities and DIIs have sold 1215cr.   Market breadth maintained its positiveness.   In Derivatives segment FIIs have sold 828cr.   Also FIIs have accumulated 28756 shorts and 3584 nos of Index Futures Contracts (net selling of 25172 contracts worth of 959.60 cr).  Futures premium nullified, PCR is still below 1.00 (0.87), RSI and Bo-linger Indicators indicate that: market is going to accumulation zone (range bound and buy at lows).    Since Options Segment premiums will be not much attractive till this near month sessions closes, Traders may force to go for Equity or Futures segment along with hedging.

Nifty likely to open with positive note and may go for another day consolidation and likely to close in positive.   Bank Nifty may be down puller, even though stock specific action witnessed.  Expected Trade Balance Data may not be surprised and likely to be in negative only.

NIFTY SPOT LEVELS:

Pivot: 7640

Resistance: 7700/7744/7804

Support: 7596/7535/7492

NIFTY FnO BAN: DISHTV, IBREAL, UNITECH

STOCKS FOR DAY:

RCOM, TITAN, COAL INDIA, MPSLTD, DELTA CORP (LONGS)

KARNATAKA BANK, LICHSG, IRB, ADANI POWER (POSITIONAL SHORTS)

10-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday also Nifty has tried for another high, which is technically very much respectable.   FIIs have bought 20300 long Index Futures and Shorts 10824 on net off  9476 longs for worth of 364 cr.  In Equity Segment also FIIs are in long side, but DIIs are in selling side.   Market Breadth continued its positiveness.  As Nifty continuing its creeping at bottom side of Trend Line, AD and Stochastic Indicators are running weak, traders should be ready for correction from its next resistance level of 7740/7750 on intra basis and on EOD basis 7800/7850.    Active Derivatives range also zoomed to 7500-7700 level, even though Highest OI range in tact between 7000-7500 level.

Today Nifty likely to open flat with influence of its Peer Markets and likely to get consolidate its range.

NIFTY SPOT LEVELS:

Pivot: 7636

Resistance: 7692/7730/7785

Support: 7598/7542/7505

NIFTY FnO BAN: DISHTV, IBREAL, UNITECH

STOCKS FOR DAY:

HINDUJA VENTURES, RECL & PFC.

09--06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Friday Nifty was taken to new highs and derivatives'active ranges also pushed to 7400-7600.   Nifty likely to play with 7440 support for its new highs.   7650 will be next Support cum Resistance.   Even on Friday FIIs are net buyers in Equity Market.  With Mid cap & Small cap participation Market Breadth also in positive.  Only IT & METAL Sectors have not participated on Friday.   FIIs have sold 11274 Index Future Contracts worth of 421.36 cr (7497 longs squared off 3777 shorts added) by Increasing 3720 contracts OI. PCR settled around 0.88 witch indicates market gap to be fill.   As Budget Meetings are in progress, many Views, News and Monsoon Forecasts are likely to drive the Market.   As Nifty has done remarkable journey (not in over bought) and Sentiment is in upbeat; likely to attract more volatility (over re-act) even to small positive/negative news.   Traders has been advised to maintain strict SL for their positions.

Today Nifty likely to open with positive note and likely to be range bound.

NIFTY SPOT LEVELS:

Pivot: 7556

Resistance: 7618/7653/7713

Support: 7523/7463/7428

NIFTY FnO BAN: DISH TV & IBREAL

STOCKS FOR DAY:

APPOLOTYRES, PURVANKARA, NAHAR POLY.

06-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Nifty has closed  at New High, even though on EOD basis.  As we expected, Nifty has been covered from it lows and closed at record High.   Market is getting consolidation, very nicely: with out bubbling, without over bought (PCR @ 0.80), with out much shorts, without over value and all round participation.  But one should be careful only with one aspect:: as most of the stocks prices have been increased almost 100% plus, short term traders and professional traders would be seeing for opportunity to book profits.  As Market journey (recent) has started with Positive Expectations (on Modi Cabinet) and many Corrective Steps (mostly hard decisions) to be taken for Long Term Benefits (petrol and gas price increase to adjust subsidy b/f etc), common investor will get disappoint and negative sentiment may spread.

As this situation was well assessed by FIIs and they started hedging their Equity Buying with Index Futures.  Yesterday also FIIs have sold 23856 index future contracts for worth of 889.76cr (sold 20811 longs and added 3045 shorts) by decreasing OI by 17766 contracts.  But they are very much in Long side in Equity and Equity Index Segments.

As per Technical guidelines; Nifty has immediate resistance at 7500/7520 level.  If Nifty sustained above 7440 (todays pivot) level, Nifty may hit 7564 level as we mentioned earlier.   As RSI (with negative divergence)and Stochastic Indicators are in Over Bought zone, we advise Short Term Traders to exit at highs.  But for Long Term Investors, every dip is an opportunity to Buy.

Today Nifty likely to open with positive note in line with SGX Nifty.  There after we can witness stocks specific action.

NIFTY SPOT LEVELS:

Pivot: 7440

Resistance 7520/7565/7645

Support: 7394/7315/7270

NIFTY FnO BAN: DISHTV

STOCKS FOR DAY:

ONGC, THINKSOFT, BANCO PRODUCTS, NATCO PHARMA & REL. INFRA.

05-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS: 
http://roaringstocks.blogspot.in/2014/06/05-06-2014-market-technical-view.html

04-06-2014 MARKET TECHNICAL VIEWS:

MARKET TREND - ROARING STOCKS:

Yesterday RBI policy was taken by Market as positive step but  it is not overjoyed.    As many news are floating regarding cash flows, Equity Market likely to be range bound till the final advantages worked out. Derivatives OI active range (7300-7500) confirms this views, even though OI highest range is intact between 7000-7500.  Yesterday FIIs have sold 3574 contracts of Index Futures for worth of 132.47cr, but they are net Buyers in Equity Market for worth of 579cr.  Stock specific action likely to continue till the Nifty breaks its range 7300 & 7500.   Even with positive action of RBI, Bank Nifty is not overwhelmed, which indicates the sluggishness in Market.

 Today Nifty likely to open flat and may get resistance at 7450.   If the Nifty  closes above 7460 for a day or two Nifty likely to test 7580/7600 levels.  

NIFTY SPOT LEVELS:

Pivot: 7394

Resistance: 7446/7477/7530

Support: 7363/7311/7281

NIFTY FnO BAN: NIL

STOCKS FOR DAY:

ADANI PORT; JAIPRAKASH;

03-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Market surprised all Technical followers, who does not cared/observed volume theory.    Nifty taken support of 7118, which is on 30/5/14 and closed above 7220 level.   Since FIIs taken advantage of weak Technicals and went for buying.    Yesterday again Govt. policy news and HSBC economic data given boost to Nifty and closed with respectable levels.   Since PCR (0.75) indicate oversold situation, even at this Highs, volatility can't be rules out in these 2 days.  If RBI credit policy surprises (mostly expecting non-event), Nifty may break or test previous highs.   But technically Nifty indicate sell at highs.   Pl. note always, News and Volume breaks can disturb technical values.  Yesterday FIIs have bought 8660 Index Future contracts for worth of 317.95cr (1827 longs and 6833 shorts squared off) along Equity buying for worth of 234.49 cr.   Rupee become more stronger with cash flows, but Derivatives OI has been reduced by 5006 contracts.

NIFTY SPOT LEVELS:

Pivot: 7323

Resistance: 7407/7453/7537

Support: 7227/7194/7149

NIFTY FnO BAN: NIL

STOCKS FOR DAY:

02-06-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARINGSTOCKS

Friday has given little bottom fishing along with Longs and Shorts Square off.   FIIs have squared off both Longs and Shorts.  But they squared off Shorts more than Longs, they are marginally Plus in buying side in  Index Futures 5860 contracts worth of 211cr and also Long in Equity Segment also.  FIIs are seems to be waiting for Modi Circar's Policy Guidance and RBI's Interest Policy (on 3rd) and they free from Buying.   As Nifty has bulged in last series, its getting adjusted its excess fatness.   Nifty likely to try for its other support, which lies at 6980-7020 level.   Nifty Derivatives OI range is between 7000-7500 with active range of 7200-7400.   As Niftys gap filling range near 7000 level, we can't rule out the Nifty testing that level.     Positional Traders with 7250 SL can go for 7200 PE.

Today Nifty likely to open flat and be range bound till Europe Market opens and HSBC economic data releases and likely to close in Red by end of the Day.

NIFTY SPOT LEVELS: 

Pivot: 7207

Resistance: 7295/7361/7450

Support: 7140/7052/6987

NIFTY FnO BAN: NIL

STOCKS TO WATCH:

Essdee; Natco Pharma (long side); BHEL, HDFC Bank, PNB,