MARKET TREND - ROARING STOCKS:
Yesterday RBI announcement become almost non-event. Nifty played within its Technical levels with more volatility. Nifty closed within its support- cum - resistance level. Due to the RBI's positive voice in dealing with Interest Rates, offtate bottom fishing has taken place in some of the sectors like infra indice and Market Breadth has been increased to positive. In Equity Segment both FIIs and DIIs are Net Buyers for worth of 52.85 and 62.22 cr respectively. But in Index Futures Segment FIIs are Net Sellers of 201.35 cr by square off 2208 longs and adding 3064 shorts which increased OI by 856 contracts. As we mentioned in our previous notes, Market is in Sell at High mood only, till Nifty closes above 7750 level for a day or two.
Yesterday RBI announcement become almost non-event. Nifty played within its Technical levels with more volatility. Nifty closed within its support- cum - resistance level. Due to the RBI's positive voice in dealing with Interest Rates, offtate bottom fishing has taken place in some of the sectors like infra indice and Market Breadth has been increased to positive. In Equity Segment both FIIs and DIIs are Net Buyers for worth of 52.85 and 62.22 cr respectively. But in Index Futures Segment FIIs are Net Sellers of 201.35 cr by square off 2208 longs and adding 3064 shorts which increased OI by 856 contracts. As we mentioned in our previous notes, Market is in Sell at High mood only, till Nifty closes above 7750 level for a day or two.
In
line of our Peer Markets and SGX Nifty market likely to open with
negative bias and look for support at yesterdays lows. If any short
positions are taken at market open, we have to square off at 7590/7600
level and wait for further consolidation.
NIFTY SPOT LEVELS:
Pivot: 7712
Resistance: 7787/7827/7902
Suport: 7672/7598/7558
NIFTY FnO BAN: IBREAL
STOCKS FOR DAY:
TITAN EQ: SELL < 348 TRG 342/338 SL 352 (SELL AT HIGHS)
RELIANCE EQ: SELL < 980 TRG 974 SL 992
ULTRATECH CEMENT EQ: > 2564 TRG 2658 SL 2510
CESC EQ: BUY > 675/663 TRG 682/675 SL 663/660 (TRAILING SL BASED ON STRIP OPENING PRICE)
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