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, 
No comments:
Post a Comment