MARKET TREND - ROARING STOCKS:
Nifty
made Resistance Breakout at 7810 level. Recorded one more New High.
Closing positive 8th day in a row is also a rare phenomena. IMF
Positive Remarks on Indian Growth Story and Negative remarks on Rest of
World also gives more hope on New Cash Flows to our Indian Financial
Market. As Government Sovereign Equity on sales through dis-investment,
most of the flows may attract by this segment. Surely they try for
Best Price and wait for Market Correction. Derivatives' OI range and
Trend Line Resistance indicate that: Nifty will have strong resistance
at 7880/7900. Obviously/usually in this last leg (present) low PE
stocks will be attracted by retailers and MFs. As lower value stocks
like Infra Segment and other mid cap / small caps have not participated
in this week journey, bottom fishing can be witness in this segments.
Yesterday
FIIs are Net Buyers in Equity 282.44 cr and Index Futures Net Sellers
by 81.47 cr of 2168 contracts through adding 5578 Shorts and going for
3410 Short Covering. Derivatives OI range is in tact between 7700-8000
along with range of 7700-7800. Market breadth was closed in
neutral. Rupee closed much weaker. PCR ratio closed above 1.00
(1.01). These are indicate that Nifty has to be get consolidate to
make further up move.
Today
Nifty likely to open Flat in line with Peer Markets. Nifty likely to be
range bound till Europe Market Opens. Below 7805/7800 Nifty may go for
profit booking.
NIFTY SPOT LEVELS:
Pivot:: 7813
Resistance: 7854/7877/7917
Support: 7780/7748/7725
NIFTY FnO BAN:
GMR INFRA, HDIL, IBREAL, JAIPRAKSH, UNITECH
STOCKS FOR DAY:
Asian Paints Eq. : Buy > 613 Trg 627 SL 605
Hindalco Eq: Buy > 196 Trg 199.50 SL 194
Sail Eq: Buy > 89.50 Trg 92 SL 88
Arvind Eq: Sell < 233 Trg 230/228 SL 235
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