MARKET TREND - ROARING STOCKS:
Nifty
closed at another new high. As we expected good roll overs are
happening. As we are going to have long week end along with derivative
session (month series) is going to end today, we can't ruled out
volatility. From last 1 week Nifty has not done much only it has
increased only 60 pts by creating records of new intra day high and
record high closing. Nifty maintaining its resistance level at 8000,
which most the participants wants to see. With high volume of options
at 8000 level, bulls and bears are betting to beat each other. Even
yesterday FIIs are net buyers in equity and derivative segments for the
worth of 290.18 cr and 437.81 cr respectively. FIIs have added 31663
longs and 20908 short contracts by increasing OI of 52571 contracts in
derivatives session. From last 5 sessions Nifty has lost 3660900
contracts in its OI, which indicate good rollovers. Even though Nifty
is in range bound by maintaining its new levels, most of the days
Market Breadth closed in minus, which indicate, most of the mid cap and
small cap stocks are facing selling pressure. PCR closed at 1.02 which
indicate little over bought situation. Rupee closed at improved position
at 60.35 by strengthening 016pcs. Positive Expectation of weekly GDP
(yoy) at 5.2% level will be added advantage for Traders. (expected on 29th which is trading holiday on event of Ganesh Festival)
Nifty
likely to open with positive note and my get resistance at 8000 (at new
high) level and may sign off for profit booking. Day traders can go
for shorts with 8020 SL for Target of 7930/7920 level.
NIFTY SPOT LEVELS:
Pivot: 7933
Resistance: 7950/7963/7980
Support: 7919/7902/7889
NIFTY FnO BAN:
IBREAL, JAIPRAKASH, REL CAPITAL.
STOCKS FOR DAY:
IRB INFRA EQ: BUY > 253 TRG 257 SL 250.50
AJMERA REALITY & INFRA EQ; BUY > 69 TRG 73/75 SL 66
ARVIND EQ: SELL < 282/278 TRG 275 SL 285 (TRADE IN pe SEPTEMBER SERIES)
KOTAK BANK EQl SELL < 1043 TRG 1027 SL 1056 (TRADE IN pe SEPTEMBER SERIES)
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