MARKET TREND - ROARING STOCKS:
Yesterday
many people may be realised or recollected the importance of SL in
Share Market Trading. When all most all analysts are expecting and
aiming for positive closing, only one Supreme Court Comment on Coal
Issue has changed the Market direction and forced to close in flat.
Even though Fear Psycho Retailers have rushed for selling, which
resulted negative market breadth. FIIs have maintained their buying
(mostly rollover) by hedging with Index Options and Stock Options. FIIs
are net buyers in Equity and Index Futures Segment for the worth of
127.33 and 191.56 cr respectively. But due to hedging on total
Derivatives Segment they are net sellers for Rs. 85.99 cr. DIIs are
net buyers for worth of 45.71. As Nifty neither able close above 7920
not breach the Trend Line Resistance which is at 8000 level, bulls must
be re-valuating their closing strategy. If the Nifty breaches 7880
level, this series closing may be between 7750-8000 level.
Today Nifty likely to open flat with negative bias and may be range bound due to roll over exercise.
Revamping and Plugging exercise will be listen from some more
departments (FIIs & FDIs will receive positively), stock specific
action can't be ruled out.
NIFTY SPOT LEVELS:
Pivot: 7924
Resistance: 7950/7995/8020
Support: 7880/7854/7810
NIFTY FnO BAN:
HDIL, IBREAL, IRBINFRA, JPASSOCIATED
STOCKS FOR DAY:
RPOWER EQ: SELL < 83.75 TRG 80/78 SL 86
PETRONET LNG EQ: BUY > 177.50 TRG 179.50/182 SL 175
SUPRAJIT ENG EQ: BUY > 118 TRG 119.50/121 SL 117
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