MARKET TREND - ROARING STOCKS:
Yesterday,
bunch of news and expectations helped Market to get back to 1st
resistance level and closed in positive. Let us hope, as it will not
stop as pull back rally. CPI data is better than expectation. RIL has
reported results as per market expectations.
FIIs
have used this pull back to liquidate their longs in Index Futures and
Equity Market. Also they have added some shorts in the Market by
hedging with Index Options. FIIs have sold 821.77 cr Index Futures
segment and 671.06 cr in Equity Segment. FIIs have sold 12305 longs
contracts and added shorts of 8638 contracts in Index Futures by which,
OI has been decreased by 3667 contracts. But DIIs have continued by
buying in Equity worth of 566.83 cr. Market Breadth also improved
marginally. Our Rupee also strengthened and closed at 60.99.
Derivative OI range is intact between 7800-8200. PCR is improved and
closed below 1.00. India Vix closing at 14.5 after touching near high
15.23 is to be observed. Even though US market closed in red, off
late due to USD easing, DOW futures index started showing some buying,
which will be supportive to rest of the world.
Today our Nifty likely to be open with positive bias to flat as Asian Peers are playing mixed. Due to unrest at Hang Seng, markets also
facing volatility, which may not be consider for time being. If FIIs
starts short coverage our Market may close with respective nos. If
Nifty opens above 7880, 7920 may act as minor resistance and 1st
resistance may come across at 7965 and there after 8020. Tomorrow our
NSE holiday to be kept in mind as SGX Nifty will be functioning, in the possibilities of arbitrage trading by FIIs.
NIFTY SPOT LEVELS:
Pivot: 7860
Resistance: 7925/7965/8030
Support: 7820/7755/7714
NIFTY FnO BAN: IBRAL
STOCKS FOR DAY:
LICHSGFIN: BUY > 317 TRG 324 SL 312
LIBERTY: BUY > 313 TRG 324 SL 305
SUNPHARMA: SELL < 810 TRG 793 SL 821
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