MARKET TREND - ROARING STOCKS:
Yesterday Nifty has reached New High with Record Turnover.
Global Commodity prices have acted as trump for this positive
movement. Moodys' positive remarks on Indian Sovereign and Modi's
proposed Diesel Price Cut (2 Rs) and FDI relaxations in construction
sector have put the Foreign and Domestic Traders in Joy and shown their
stamina.
Yesterday
FIIs have bought 1286.49 cr in Index Futures by adding 93697 Long
contracts and 62368 Short contracts in the system by which OI has
decreased by 156065 contacts. Total Derivatives (all products except
debit products) segment was plus by 5770.35 cr. In Equity segment FIIs
have bought 1257.49cr and DIIs are marginal sellers by 94.01 cr.
Market Breadth closed positively. Rupee gained marginally by 0.09 pc
and closed at 61.34, PCR indicate over bought of Market by closing at
1.08. Surprisingly Stochastic and MACD closed with negative divergence,
which indicate accumulation of money in Shorts side. As market is in
over bought and money pumped for shorts, positional traders should be
cautious with their investments by hedging.
Today
also Nifty may open with Gap up in line with our Peer Markets and our
SGX Nifty (65pts plus at 8.00 am) and there after may see consolidation
of gains with profit booking. We have keep week end also in mind along
with 155 weekly gain of Nifty. Day Traders may go for coverage of
short term Nifty positions between 8210-8220 level with SL at 8250. As
new series commence today, the excessive premium also will get
adjusted.
NIFTY SPOT LEVELS:
Pivot: 8145
Resistance: 8205/8241/8302
Support: 8109/8048/8012
NIFTY FnO BAN: IBREAL
STOCKS FOR DAY:
INDIA CEMENT: BUY > 109 TRG 112 SL 106
BHARAT FORGE: BUY > 790/808 TRG 808/817 SL 775
PURVAKARA: BUY > 100 TRG 103/105 SL 99
UNITECH: BUY > 19 TRG 19.90/20.50 SL 18.30
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