MARKET TREND - ROARING STOCKS:
Yesterday
FIIs are net buyers in Equity and Index Futures segment for the worth
of 433.55cr and 32.41cr respectively. FIIs have Squared of short
positions of 6915 contracts along with longs of 6142 contract by which
they have become net buyers of 773 contracts by which 13057 contacts OI
decreased in Index Futures. As short coverage was taken place along
with buying in Mid cap and Small cap indices, Market Breadth improved
remarkably. As Nifty has continued to close with negative bias and
below the channel, and peer markets are not supportive, this week Nifty
likely to close in minus. As US data is not much encouraging and our
Economic Data expected (negatively expected) after market hours,
Derivatives OI range is intact between 8000-8200 along with active range
of 8100-8200, Low playing of India Vix suggesting, Bulls are more
dominate than Bears. Unless Nifty breaks 8040/7980 level selling
pressure will not be witnessed. Similarly unless 8135. 8160, 8200
breaks, Bulls will not be get boost to get fresh long positions.
Today Nifty likely to open Flat and wait for Europe Market to get the guidance. Day traders may continue their trades as per day pivots with strict SL. We should be more careful with individual Stocks.
NIFTY SPOT LEVELS:
Pivot: 8090
Resistance: 8123/8161/8194
Support: 8052/8020/7982
NIFTY FnO BAN:
HDIL, IBREAL, IRB, JPASSOCIATES
STOCKS FOR DAY:
You may mail your NAME ALONG WITH MOBILE No. to ROARINGSTOCKS@REDIFFMAIL.COM to get DAY & POSITIONAL CALLS thorugh SMS.
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