MARKET TREND - ROARING STOCKS:
New
month going to start with more volatility and new hopes. Financial data
has given new hopes on economy and growth turn to positive etc. Today
market has got one threat of Coal India Scam at Supreme Court.
Negative comments if any, will disturb the sentiment, as many corporates
growth/performance is linked with this scam. If the court doesn't
allow to continue the coal operations, many core sector (power &
steel) corporates may face raw material problem and there by hamper
production. If the corporates' performance hamper, Bank also
automatically get effected. Today HSBC PMI data also can add fuel to
fire of market trend.
Even though,
Thursday Nifty closed with positive note, Market Breadth was not much
encouraging. FIIs are net sellers in Equity by 710.63cr. Due to roll
overs and other reasons in Index Futures Segment FIIs are net buyers for
worth of 847.03 cr. DIIs are net Buyers in Equity for worth of
730.43cr.
Today
Nifty likely to open with positive note (with gap up) may get adjust
the premium with new series. Nifty support lies at 7900/7920 level and
resistance at 8020/8040 level.
NIFTY SPOT LEVELS:
Pivot: 7954
Resistance 7968/7982/7997
Support: 7940/7925/7911
NIFTY FnO BAN: NIL
STOCKS FOR DAY
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