MARKET TREND - ROARING STOCKS:
Yesterday
Nifty again played replica of Global Markets after it opens with Gap
Up. Also Nifty got hold at its technical resistance area. As market
already set for festival celebration and going to have longer week end
along with festival, Nifty may play between the range of 7850-7980 level
for these 2 days. Iin continuous to our yesterday's comments regarding
FIIs selling Vs DIIs buying, you may witness today the scene reverse as
FIIs buying and DIIs selling. Yesterday FIIs net buyers in Equity Segment for worth of 1040.08 cr and DIIs are net sellers of 166.11 cr. In Index Futures
FIIs are net buyers worth of 1455.01 cr by adding 40477 longs (thr short
coverage) and sellers of 3915 long contracts, by which OI has been
increased by 44392 contracts. Derivatives OI range improved to
7700-8100 level along with active range of 7900-8000 levels. Market
breadth also improved. Interesting to note, even after 99 pts gain of
Nifty and 273 pts of Bank Nifty, day charts closed with Red Candle
and CMF also closed negatively. These both gives indication of money
out from market, irrespective of Sensex closed with 260+ pts.
Today
Nifty likely to open flat with positive bias in continuous to
yesterday's spell. Nifty's Yesterday high will be 1st resistance and
there after 7930 and 7960 will act resistance to market. Day traders
can go short at high with 7980 SL. As well as with 7830 SL can go be on
long side.
NIFTY SPOT LEVELS:
Pivot: 7881
Support: 7855/7831/7805
Resistance: 7904/7930/7954
NIFTY FnO BAN: HDIL, IBREAL
STOCKS FOR DAY:
DHFL: BUY > 324 TRG 331 SL 317
PETRONET: BUY > 194.50 TRG 199 SL 191
HINDZINC: BUY > 164 TRG 167 SL 161
No comments:
Post a Comment