Wednesday, October 29, 2014

30-10-2014 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:
Share Market is such Dynamic, always through new flavors, by which some people get impressed and some people get allergenic.    Yesterday Market got over joyed without much effective news.   FIIs are Net Buyers in Index Futures for worth of 2166.73cr by adding 45086 long contracts and going for short coverage of 7834 contracts by which OI has been increased by 37252 contracts.  In Equity Segment FII are net  Buyers for the value of 785.61cr and DIIs are Net Sellers for worth of 507.29 cr.   Market Breadth was improved marginally.  Rupee much weakened and closed at 61.44.  Derivative OI range was intact between 8000-8100 but active range improved to 8100 from 8000 at higher level.  Except movement indicator, most of the volume and value indicators have closed with positive note.

Today our Nifty also may open flat in line with our SGX Nifty and other Asian Markets.  Off late likely to show volatility in view of Near Month Derivative Session closing.   Nifty likely to get resistance 8120/8130 level and may close around 8020-8050 level.

NIFTY SPOT LEVELS:
Pivot: 8080
Resistance: 8108/8126/8154
Suppot: 8062/8034/8017

NIFTY FnO BAN: IBREAL, GMRINFRA & UNITECH

STOCKS FOR DAY:
INDSINDBANK: SELL < 695 TRG 687/681 SL 701
APOLLOTRYES: SELL < 218 TRG 215/212 SL 220
SUBROS: BUY > 71 TRG 75.50 SL 66.50
SADBHAVENG: BUY > 219 TRG 224/232 SL 216

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