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:
No comments:
Post a Comment