MARKET TREND - ROARING STOCKS:
Friday
Market went on short coverage in view of expected exit-poll, economic
data support and peer markets support. FIIs also joined for short
coverage in Index Futures only and net sellers in Equity Segment. FIIs
went on short coverage for the worth of 1030.18cr by going for short
coverage of 27480 and and sold longs worth of 1163 contracts which
resulted increase of OI by 28643 contracts. But Equity Segment FIIs
have sold worth of 1403.33 cr and DIIs have bought worth of 737.31 cr.
Interesting to note, soon after the profit booking started right from
20th October, FIIs are continues sellers in Equity (except one day) and
DIIs are continuous Buyers in Equity Segment. In this context many may
seeking answers to: whether our DIIs have become more smarter than FIIs?
or they become Scape Goat? Derivatives OI range is intact in the range
of 8000-7700 along with active range of 7900-7700. Friday Market
breadth was closed negatively. Rupee closed at 61.37. PCR has shown
much scope for buying by closing at 0.80. India Vix marginally got
corrected as Options positions also went for coverage.
Today
Nifty likely to open with positive note and may be gap up also, as most
of the world markets running in green and SGX Nifty is in plus with 130
pts (8.00 AM). Nifty may get resistance 7920 as As Bears will get
grip below 7850 only, one can be long side above 7920 where Trend
Support and 50 DMA is available.
NIFTY SPOT LEVELS:
Pivot: 7774
Resistance: 7825/7870/7920
Support: 7729/7678/7634
NIFTY FnO BAN: HDIL, IBREAL
STOCKS FOR DAY:
IDEA: BUY > 152 TRG 157/160 SL 148
HDFC: BUY > 877 TRG 896 SL 866
IRB: BUY > 229 TRG 233 SL 226
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