MARKET TREND - ROARING STOCKS:
Yesterday
FIIs are net sellers in Equity and Index Futures segment for the worth
of 1185.17cr and 315.60cr respectively. FIIs have added 25453 shorts
and 17524 long contracts which increased 42977 contracts in OI of index
futures. 2nd day also FIIs have added longs and shorts instead of
squaring off the positions and hedged with Index Options. Even though
DIIs are net buyers for worth of 325.70cr, Market Breadth was closed
much negatively. This indicate mid cap and small cap selling pressure
in the system. Rupee also closed at 61.05 due to cash out flows.
Even
though China, Germany PMI data is positive, WTO's lower growth
expectations for 2014-15 year and weak US economic data, all most all US
and Europe markets also closed in Negative. As Nifty is at Trend line
support area of 8015/8020, we have to observe this level before we
check for 7953 pivot support and earlier supported area of 7925. Nifty
Derivatives OI range is intact between 8000-8200 along with active
support point of 8100. As this is last but one day for near futures
session and also Market has habit of surprising traders when ever the
market is at absolutely weak (technically), we have to be careful with our SL.
Today
Nifty likely to open flat in line with peer markets and may be little
volatile to order to square offf the present holdings and roll overs.
In this exercise the precious premiums will be nullified. 8020, 7950 and
7925 levels will act as support and 8070/8080 and 8120 will act as
resistance to Nifty.
NIFTY SPOT LEVELS:
Pivot: 8061
Resistance: 8116/8213/8257
Support: 7963/7910/7812
NIFTY FnO BAN:
CENTURY TEXT, HDIL, IBREAL, IRB, JPASSOCIATES, UNITECH
STOCKS FOR DAY:
You may mail your NAME & MOBILE NO. to ROARINGSTOCKS@REDIFFMAIL.COM to get DAY & POSITIONAL CALLS through SMS.
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