MARKET TREND - ROARING STOCKS:
FIIs are net buyers in Equity and Index Futures for worth of 251.36 and 276.73 cr irrespective of Nifty and Sensex closed in Red.
In Index Futures segment FIIs have added 2777 long contracts and 4255
short contracts were squared off by decreasing overall Oi by 1478
contracts. DIIs have continued their selling in Equities for worth of
481.37 cr on second day also. Market breadth was closed in positive
even though breadth was lesser than previous day. Derivative's OI range
was in tact between 7700-8000 but active range has reduced to
7700-7900, which indicate Nifty is getting resistance at higher level. Rupee was strengthened by 0.18 paise and closed at 60.57. As many analysts are expecting, Nifty big move is ahed in coming 2 days. 7740 and 7920 are critical levels for either way move.
Today
Nifty likely to open flat and wait for clues from Europe Market and
till that time we may see range bound trades. Day traders can go short
at 7890 level with SL of 7920/7940 and Nifty likely to close with
negative bias by end of the day.
NIFTY SPOT LEVELS:
Pivot: 7887
Resistance 7910/7946/7969
Support: 7852/7829/7793
NIFTY FnO BAN: UNITECH
STOCKS FOR DAY:
BHEL EQ: BUY > 230 TRG 234 / 236 SL 227
JPINFRA EQ: BUY > 35.50 TRG 37/38 SL 34.50
SUNPHARMA EQ: BUY > 834 TRG 862 SL 818
OBC EQ: SELL < 264 TRG 261/257 SL 268
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