10-10-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Yesterday Nifty had contrast closing to its peer markets.   Most of the world indices (except DAX) closed in red, but our Nifty gained very well.   Short coverage and pull back rally jointly done in reaction to FED announcement on Interest Rates.   Even though most of the traders expected the pull back rally, most of the people might have not expected the gap up opening.   As positive news started floating on infra sector from Govt. side, this sector attracted much buying along with Bank Sector.    As much stocks in Mid Cap and Small Cap sector attracted buying, market breadth also improved.   As Short Coverages has become inevitable, traders went long till the shorts initiated level of 7975 level.   Now Nifty may get resistance at DOJI initiated level of 8030 apart from pivot and other technical resistance levels.  

Yesterday FIIs are net buyers for worth of 566.28 cr in Index Futures through Short Coverage and adding longs by 12483 and 1842 contracts respectively by which OI has increased by 10641 contracts.   In Equity Segment marginal sellers worth of 20.89cr.   DIIs are in buyers for worth of 623.24cr. who are major contributors to improve market breadth.  Derivatives OI range is at 7800-8200 (100pts improved) along with active range of 7900-8000.

With influence of peer markets today nifty may open with negative bias and 7910/7850 may act as support zones for Nifty.

NIFTY SPOT LEVELS:

Pivot: 7940

Support: 7907/7859/7821

Resistance: 7993/8025/8079

NIFTY FnO BAN: IBREAL

STOCKS FOR DAY:

Technical levels will not be effective, due to expected high volatility.  

TCS,  AT SHORTS

IDFC, RELINFRA ON LONG SIDE CAN BE TRADE WITH STRICT STOP LOSS.