Tuesday, June 17, 2014

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,

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