MARKET TREND - ROARING STOCKS:
Yesterday Even (budget) event has attracted lots of volatility range of
> 250 pts Nifty and > 800 pts of Sensex. Nifty hold at 7480 level
as we expected. Budget was aimed more on Investment feasibility and
Support for Core Sectors than individual chops, Industrial Production
will improve along with infrastructure. Even though Market closed in
red, bottom fishing and shifting of indices witnessed. Budget Chops
received positively, most of the retailers rushed for investments in low
priced infra stocks along with day traders short coverage, which
resulted high volatility and positive Market Breadth. FIIs are net
buyers in Equity for smaller amount of 161.55 cr and net sellers in
Index Futures of 6830 contracts worth of 257.03cr by adding 6048 shorts
and square off 782 long contracts. DIIs are also marginally net buyers
for worth of 4.89cr.
Today Market may witness usual Calmness ofter any Storm. Holding
Yesterday lows are more critical for Nifty to maintain uptrend.
NIFTY SPOT LEVELS:
Pivot: 7593
Resistance: 7706/7845/7958
Support: 7454/7340/7202
NIFTY FnO BAN: DISHTV & GMR INF
STOCKS FOR DAY: IBREAL, UNITECH, ABAN
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