30-07-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

We are one day away from present (near) Deriviatvies Session.    Last Two Trading sessions Nifty losses 81 points and closed with out any Futures Premium.  We hope roll overs are happening with great zeal as previous.  Recent Corporate Results have given mixed opinion: IDFC, Sterlite and Ranbaxy Disappointed and like ITC and Bharati have beaten the Market expectations.  Monday FIIs are Net Buyers in Equity along with DIIs for worth of 75.04 cr and 55.91 cr respectively.   In Index Futures FIIs are Marginal Buyers by 780 contracts worth of 32.03cr.  FIIs have Added 14513 Longs and 13733 Shorts by increasing OI by 28246 contracts. Market Breadth continued to be in weak.   PCR maintained its level of 1.00.   Peer Markets closed in Mix.  Most of the Markets are waiting for July 30th FED action.   Our Derivatives OI range in tact between 7700-8000 along with active range of 7700-7800.  

As Japan Industrial Growth data disappointed Market, most of Peer Markets have open with Negative Bias along with our SGX Nifty.   Today our Nifty also likely to open Flat with positive bias and go volatile to fill yesterday's SGX Nifty Levels (7775). Nifty likely to get support from 7715/7680 (spot levels) and close with positive note.   As per our expectation, Tomarrow Nifty Derivatives (spot) may end between 7750-7780.

NIFTY SPOT LEVELS: 

Pivot: 7757

Resistance: 7791/7834/7868

Support: 7714/7680/7637

NIFTY FnO BAN:

GMR INFRA, HDIL, IRB, JAIPRAKASH

STOCKS FOR DAY: (FOR LONGS WAIT FOR MARKET UP TREND)

PRESTAGE: BUY > 254 TRG 264 SL 248

PNB : BUY > 940 TRG 949/958 SL 931

MUNJAL SHOWER EQ: BUY > 137.50 TRG 140/143 SL 136

Note: IDFC 150 pe (AUGUST) CAN BUY at 4.00/4.50 WITH equity SL OF 159/160 for POSITIONAL.