MARKET TREND - ROARING STOCKS:
Nifty
has played range bound between 1st support to 1st resistance levels.
Even though WPI numbers are attractive, peer markets profit booking has
dominated and played volatile. FIIs are net sellers in Derivatives and
Equity Segment for the worth of 302.97cr and 694.67 cr simultaneously.
FIIs have added 8707 shorts and 971 longs by which OI has been decreased
by 9676. But DIIs have continued their buying in Equity Segment for
worth of 495.52 cr. Market Breadth has been weakened. Rupee closed
at 61.38. Derivatives OI range is intact between 7800-8200. In
ob-sense of CNX Nifty, SGX Nifty has gained almost 80 pts (at 8.00 pm)
and we have to observe the morning opening on (16th).
Today
Nifty likely to open with negative bias / flat and counter yesterday
SGX Nifty gains (arbitrage trade) and go for short coverage from 7820/
7780 level by FIIs which they have accumulated shorts from last 3
working days. Since, market is sell at high mode, 7925/7965 will act
as resistance.
NIFTY SPOT LEVELS:
Pivot: 7972
Resistance: 7920/7975/8022
Support: 7817/7770/7714
NIFTY FnO BAN: IBREAL, HDIL
STOCKS FOR DAY:
TATA METALIK: SELL < 140 TRG 133 SL 144
HDFCBANK: SELL < 881 TRG 873/860 SL894
IRBINFRA: BUY > 233 TRG 236 SL 230
LICHSGFIN: BUY > 331 TRG 342 SL 323 (may need to hold for a day or two if not hit SL)
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