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.
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