Wednesday, July 2, 2014

03-07-14 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:
Yesterday Nifty has closed at new high as we expected.   All Indices (except media) have participated in the rally.  To surprise as per PCR still market is below 1.00 (0.86), which indicate as: some more steam left behind to push the Nifty to further high.  Yesterday FIIs are net Buyers in Index Futures  worth of 560.98 cr through 14485 contracts by adding 22511 Longs and 8026 Short.  By which OI increased 30537 contracts.  In Equity Segment FIIs are net Buyers for Rs.1290.68 cr and DIIs are net sellers for worth of 407.71 cr.  Market breadth was maintained in positive.  Rupee was strengthened by 0.24 pcs.  Derivatives Range has been increased to 7500-8000 along with active range of 7600-8000.  

To Nifty likely to open with positive note in line with Peer Market.  May be range bound till HSBC PMI data releases and Europe Market Opens. 

NIFTY SPOT LEVELS:
Pivot : 7711
Resistance: 7745/7767/7802
Support: 7690/7656/7635

NIFTY FnO BAN:
DISHTV, HDIL, IBREAL, UNITECH

STOCKS FOR DAY:
HINDALCO, EXIDE, JSW HOLDINGS

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