MARKET TREND- ROARING STOCKS:
With
Bank Nifty support today Market could hold and able to close flat.
Bank Nifty got support from IMF positive projections and RBI review
(expectations aired in media) regarding NPA Norms for NBFC's have given
boost to organised sector banks. Even though major sector like IT went
on correction due to down grade by Citi Bank and Metal Sector due to
week PMI from China, Market could manage to close flat. Range bound
volatility indicate rotation of sectors, which indicate the traders
confidence level on Indian Economy.
Yesterday
FIIs are net sellers in Index Futures and Equity Segment for worth of
195.89 cr and 1440.99 cr respectively. FIIs have added 9286 short
contracts and 4332 longs contracts in Index Futures segment, by which OI
decreased by 13618 contracts. DIIs are net buyers in Equity Segment for
worth of 663.09 cr. Market Breadth was closed in negative. Nifty
Futures OI range was reduced to 7800-8100 along with active range of
7900-8000. Rupee was closed at 61.43. India Vix recorded at 14.1125 by
correcting 0.35 pts. Nifty Futures premium increased to 53 pts, which
is more than normal.
Today
Market likely to open with positive bias and may get resistance at
higher levels of 7870 (minor resistance) and 7920 levels. In case of
trailing stop loss need, one can follow Pivot levels.
NIFTY SPOT LEVELS:
Pivot: 7843
Resistance: 7870/7897/7924
Support: 7815/7785/7761
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
Sail: Buy > 71.75 Trg 73/73.50 SL 71
Apollotyres: Buy > 213 Trg 218/220 SL 208
Hexaware: Sell < 191 Trg 184 SL 197
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