27-10-14 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS;

Let us welcome all Traders and Investors to the Market who might have prayed God for continuous profits.   But we all should not miss the reality of winning and loosing possibilities in the market.   If we want to be gainer always, we must have Diversified Portfolio like Light formation with all Colours.   As Mukti cant' get much easily, even Profits can't get automatically, its required lot of efforts.  Let us hope this SAMVAT gives that all energies. 

This week we are going to have full working days along with Derivatives (near futures) session closing.  We have to keep both options open: 1. to see new high of Nifty and 2. Profit booking up  to 7900 levels.   Now 8030/8040 (EOD) level becomes crucial for the Nifty to take direction.   Even on Thursday & Friday FIIs have continued their buying > 750 cr in Derivatives segment.  In Equity Segment also FIIs and DIIs are net buyers.   In Derivatives Segment FIIs have added both Longs (24633 contracts)  and Shorts (5950 contracts) in Index Futures by increasing OI of 30583 contracts.    Market Breadth also improved.  

In view of media reports about 25 Europe  Banks' poor health, our RBI Governors' emphasis for heding on Corporate FX and Recent Higher Money flows into Bank Nifty, indicate the ripe levels of these Indice and  may invites correction in a day or two.  We advise traders to be cautious with Bank Nifty at higher levels and may need to protect their holding with hedging.

Today Nifty may open with  positive note and may be volatile till auction trading time to get adjust the holdings and rotation of indices.   8030/8040 act as resistance, day traders may go for short at market highs with 8060 SL.   If nifty sustain above 8030/8040 level can hold positions with trailing SL.

NIFTY SPOT LEVELS:

Pivot: 7991

Resistance: 8009/8022/8040

Support: 7978/7861/7948

NIFTY FnO BAN: HDIL & IBREAL

STOCKS FOR DAY: (CAN HOLD FOR DAY OR TWO WITH SL)

PRAJIND: BUY >63 TRG 64.50/65.25  SL 62

MANINFRA: BUY > 22.50 TRG 24 SL 21.5

MARUTI: BUY > 3150 TRG 3215 SL 3110 (3200 CE ADVISABLE)

IFCI: BUY > 35 TRG 35.50/37 SL 34.50