22-9-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Last week Nifty gained 15 pts after the hectic movements with influence of FED, CHINA PM VISIT news etc.  It had High 8161,  Low at 7925 and Closed at 8121 which formed Hammer pattern Candle on Graphs.   This type of Candle indicate about the direction change.  As Nifty tried its upper target almost and having resistance at 8200, Nifty may start its return journey. As Nifty has got support area at  8020/7980, traders should watch carefully and continue their positions with SL.   As near month derivatives session is going to expire on 25th and we left behind only with 4 trading sessions, options premiums should be calibrated properly.   Friday 8100 CE and PE's both premiums have reduced, which indicate selling pressure than buying in both instruments and Time Value adjustment. 

On Friday also FIIs are net sellers by adding more Shorts (2011) than Longs (956), which resulted net selling of 1055 contracts worth of 43.29 and decrease of OI by 2967 contracts.  In Equity segment FIIs are net sellers marginally 6.53 cr.   But DIIs are net buyers woth of 237.15cr.  Market breadth was closed in minus, which indicate poor participation of retailers.  Rupee become more cheaper and closed at 60.92. Derivative OI range is intact between 8000-8200, with active range of 8100-8200.  Indix Vix is very slow, which indicate, Bulls' activeness in market.

Today Nifty likely to open with Gap Down with influence of Peer Markets and likely to be volatile to nullifies the positions and to take a mark to September Nifty closing.  EOD closing range of 8050-8150 is trend decider.

NIFTY SPOT LEVELS:

Pivot: 8129

Suppport 5097/8073/8042

Resisstance: 8153/8185/8209

NIFTY FnO BAN:

CENTURYTEX, GMR INFRA, IBREAL, IRB 

STOCKS FOR DAY:

You may mail your MOBILE No. ALONG WITH NAME to ROARINGSTOCKS@REDIFFMAIL.COM to get DAY & POSITIONAL CALLS through SMS.