MARKET TREND - ROARING STOCKS:
Nifty
managed to close in Plus on 3 rd also, irrespective of negative news
from economic data source. Even metallurgical department's negative
comments. Re-starting of Ukrain unrest also not cared by Market. RBI,s
Governors' recent caution on investments (on global scenario) also not
dented much. Even though Nifty made good attempt to close above 7750
could not do it, but given signal about its upbeat. By UN-predicted
correction in Mid Cap Stocks, most of our Retailers tried to be
Sand-witched We feel Yesterday also short coverage only has much
helped than selling pressure. FII data informs that; they are in long
side both in Equity and Derivatives Segment. FIIs are in Buying side In
Equity Segment 718.27 cr and Index Futures section 717.77 cr worth.
In index futures they added 27460 Long and 9005 Short contracts added by
increasing OI by 36465 contracts. Our DIIs are marginally in long
side. Due to mid cap and small cap selling pressure, Market Breadth
was weakened. Rupee strengthened marginally and closed at 61.08. Due
to averaging factor/short coverage, active range of Derivatives improved
to 7700-7800 from its 7600 base, even though overall range is in intact
between 7600-8000.
Nifty likely to
open flat in line with Peer Markets and wait for clues from economic
data and Europe Market open. WPI and Long week end are influential factors
for day traders and likely to be volatile. Positional Traders can go
long with 7650 stop loss and day traders can be stock specific.
NIFTY SPOT LEVELS:
Pivot: 7731
Resistance: 7766/7792/7827
Support: 7704/ 7669/7643
NIFTY FnO BAN:
HDIL, IBREAL, IRB & UNITECH
STOCKS FOR DAY:
OBC EQ: SELL < 263.50 TRG 251 SL 272
RELIANCE EQ: BUY > 981 TRG 989/997 SL 972
CROMPTON EQ: SELL < 191.50 TRG 183 SL 200
ASHOKLEYLAND EQ: SELL < 34 TRG 33/32.30 SL 34.75
No comments:
Post a Comment