MARKET TREND - ROARING STOCKS:
Yesterday Nifty was
not taken the RBI action as much serious and continued its volatility. Nifty has played more 100 pts volatility, in
which mid cap and small cap faced selling pressure. Even stocks like HDFC faced much
volatility. FIIs are net buyers in
Derivatives segment for the worth of 232 cr by adding Longs and Shorts of 8534
and 2740 contracts respective, which resulted increase of OI by 11274
contracts. In Equity Segments FIIs are
net sellers for value of 485.93 cr and DIIs are net buyers for value of
201.24. Rupee closed at recent high of
61.92. Market Breadth also closed in negative. Market leaving contrast technical indicators
like, RSI & STOCKAST is positively indicating visa-versa MACD and MOVEMENT
indicators are in negative divergence. This
kind of information is much more confusing the direction of the market and
traders are been burdened even with SL.
This kind of market scenario is good for positional traders (FIIs and
HNIs) to average or exit from the strips by using these valleys. Derivatives
OI range is intact between 7800-8200 along with active range of 7900-8100. As our Indian Market working days are going
to variant from SGX, positional traders should be careful with their holdings
particular in Derivatives Segment.
Today Nifty likely
to open with negative bias and likely to be range bound. In present range Nifty may get support at
7915 and day traders can go long by preparing themselves with long SL of 7880.
NIFTY SPOT LEVELS:
Pivot: 7973
Resistance: 8022/8080/8130
Support: 7915/7866/7808
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
You may mail your NAME & MOBILE No. to ROARINGSTOCKS@REDIFFMAIL.COM to
get DAY & POS CALLS through SMS.
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