MARKET TREND - ROARING STOCKS:
Monday
Nifty reciprocated to our Economic Data and created one more new
record. Except FMCG Indice all other Indices contributed to break the
wall of resistance, which formed in July. Nifty OI range has been
shooed from 7900-8000 to 8000-8200 level. Active range also shooed to
8000-8100 level. Govt. positive response to Supreme Court in resolving
the Coal stalemate also added fuel to the fire gun to take the Nifty to
new high. Now one should be cautious about the valuation of individual
stocks and Nifty which is trading at 20.99 level along with over
bought indication from RSI & Stochastic Indicators. On Monday FIIs are net buyers worth of 554.14 cr and DIIs are net sellers for worth of
561.69 cr in Equity Segment. But FIIs are net sellers worth of 41.99
cr of 985 contracts in Index Futures by going for short coverage of
longs and shorts, even though they are net buyers in over all Derivative Segment by hedging their equity longs with Options.
Today Nifty likely to open flat in line with Peer Markets and in the verge of consolidation.
If Nifty breaches 8035/8015 in opening 8000/7980 likely to act as
support and Nifty for a day or two likely to get resistance 8060/8080
level. As Nifty indicate over bought status, day traders should
maintain SL to minimise their trading cost.
NIFTY SPOT LEVELS:
Pivot: 8016
Resistance: 8047/8066/8098
Support: 7996/7964/7945
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
You
may mail your: MOBILE No. ALONG WITH YOUR NAME to
ROARINGSTOCKS@REDIFFMAIL.COM to get DAY & POSITIONAL CALLS THROUGH
SMS.
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