MARKET TREND - ROARING STOCKS:
Friday Market got corrected by gap down opening . FIIs have sold good
quantum of Derivatives (highest in recent times). Market is in over all
mood of profit booking as most corporate results have been completed.
Market is looking for reasons to get corrected. Friday FIIs have sold
72009 derivative contracts worth of 2720.07 cr by adding 27544 shorts
and 44465 long contracts squared off. In equity segment also they are
net sellers for worth of 503.74 cr. But DIIs are net buyers worth of
456.02 cr. Market breadth was weakened due to pressure from
retailers. DIIs are more active in bulk deals. Even though Market got
corrected Derivative OI's lower base improved from 7300 to 7500. Now
Derivatives OI range is in between 7500-8000 along with active range of
7500-7700.
Today Nifty likely to open with Gap up in counter to weekend news
(finance and RBI measures) and in line with Peer markets. But traders
should be cautious with SL in view of short coverage and sell at high
Nature Market.
NIFTY SPOT LEVELS:
Pivot: 7567
Resistance 7594/7620/7646
Support: 7540/7514/7489
NIFTY FnO BAN: IBREAL
STOCKS FOR DAY:
Trade Nifty with movement um as per the above pivot levels and SL. News dominated Market.
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