MARKET TREND - ROARING STOCKS:
We
may feel happy to observe the Upbeat Bullish Mood of our Retailers.
They are flying in glider in air direction and must be feeling joyous.
Only thing they should measure their stamina, in case wind direction
changes needed control and safe landing. Bank Nifty up move may surprises many
fundamental analysts. Because there is lot of strain foresee for banks
with MODI BUDGET. For example; change in taxation for debit funds and
Relaxations to Infra Sector, Trade Deficit, NPAs etc. Mostly Budget
concentrated on immediate Physical Deficit and Long Term Growth, which
is good for India in Long Run. But Debit funds Taxation Part puts
Immediate pressure on Banks liquidity (for shorter period).
Yesterday
FIIs also joined with our retailers and supported Nifty movement.
FIIs are net buyers in Equity Segment for worth of 621.68 cr. But they
are net Sellers (24.74 cr) in Index Futures Segment by adding Longs
(18754) and Adding almost same quantity of Shorts (.19384). DIIS are
marginal sellers in Equity Segment. Market Breadth is continued its
positiveness. Derivatives OI range intact between 7500-8000 along with
its active range of 7500-7600.
As Nifty at resistance zone of 7650, market may get resistance 7665 level and initiate volatility.
NIFTY SPOT LEVELS:
Pivot: 7600
Resistance: 7665/7706/7773
Support: 7557/7491/7450
NIFTY FnO BAN: DISHTV, GMR INFRA, HDIL, IBREAL, UNITECH
STOCKS FOR DAY:
HINDALCO, BHARATFORGE, JPINFRA.
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