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
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