MARKET TREND - ROARING STOCKS:
Yesterday
Market was day of consolidation as many expected. Closed marginally
positive irrespective of non-support from Peer Markets which almost
closed in Red. FIIs are net buyers in Index Futures worth of 520 cr of
13636 contracts. They added 6553 Long contracts and Short covered 7083
contracts by decreasing OI by 530 contracts. In Equity segment also
they are net buyers 1912.42 cr. DIIs are net sellers of 1316.02 cr.
Market maintained its Positive Breadth. OI range is intact between
7500-8000. But active range has been improved to 7600-7700. Rupee
become weaker. As Nifty closed below its resistance level, even though
tried to break, Nifty may be range bound one more day. Only volumes
can break this resistance, which one expect with good results from ADAG
group results. To surprise even though many individual stocks had good
run, total Market is Not Pushed to Over Bought Position. This indicate
that: wisely Indices Rotation is happening on regular basis. Good
stocks being appreciated, Poor stocks are getting punished.
Nifty
may open with negative bias in line peer markets and try to get support
from 7590/7570 level. Since today is Friday, market may be little
volatile to re-organise positional traders' positions.
NIFTY SPOT LEVELS:
Pivot: 7636
Resistance: 7660/7680/7703
Support: 7616/7593/7573
NIFTY FnO BAN:
DISHTV, GMR INFRA, HDIL, IBREAL, UNITECH
STOCKS FOR DAY: (WAIT FOR MARKET POSITIVE TURN)
HINDALCO, NBCC, KOLTEPATIL
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