MARKET TREND - ROARING STOCKS:
As we mentioned in our yesterday's evening note, Nifty day performance is better than our expectations. Once Confidence and Hope dominates, mostly Rsk part will not be calibrated
properly. As the major part of market is controlling by
professionals, not much bubbling situation is rising. So far Market is
indicating only over bought situation, even though Nifty crossed 8100
and Sensex crossed 27000. From last 2 days FIIs are became
cautious and going for low volumes in Nifty. Even though they are
buying Equity (mostly front line stocks), they are hedging with Options.
Yesterday
FIIs are net buyers in Index Futures for worth of 190.46 cr of 4675
contracts. FIIs have added 9135 Long Contracts along with 4460 Short
contracts which increased OI by 13595 Contracts. In Equity Segments
also FIIs are net Buyers for worth of 672.81 cr. DIIs are net sellers
for worth of 167.85cr. Market breadth was closed with positiveness.
VIX slowness indicate that; Bulls are still hopeful for further highs
(nifty) and buying at every lows. Derivatives range has been increased
to 8000-8200 from its 7900-8200. OI range of index futures indicate
that 8200 level is resistance and 8000 as support. New positions
opening data indicate that 8100 also may act as resistance for while.
Over bough indicators and closing the Nifty below 8100 indicate that,
Nifty will face volatility before it takes clear direction.
Today Nifty likely to open with positive note and likely to be positive till HSBC PMI data releases, and may take movement. Nifty may have to cross its hurdles at 8140 and 8180 before it reaches its next goal of 8200.
NIFTY SPOT LEVELS:
Pivot: 8074
Resistance: 8111/8139/8177
Support: 8045/8008/7980
NIFTY FnO BAN: IBREAL
STOCK FOR DAY:
You may mail your MOBILE No. ALONG WITH YOUR NAME to ROARINGSTOCKS@REDIFFMAIL.COM to send SMS.
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