MARKET TREND - ROARING STOCKS:
On 3rd our Nifty closed with one more up at 8324 after it touching 8350. On 4th S&P Nifty Futures (in absent of our markets) closed at 8393 after it touching 8410. On 3rd FIIs have played save bets with our indices by adding more Stock Futures by hedging with Stocks Options (794.71cr against 846.21cr). Overall FIIs are net buyers in derivative futures by 134.37cr. But in Index Futures they are net buyers by 163.57 cr by adding 13023 long contracts and going for 6789 short contracts. OI of index futures has been increased by 19812 contracts. In Equity Segment FIIs are net buyers for the worth of 1413.34cr and DIIs are net sellers by 1183.08cr. Derivatives OI is intact between 8000-8500 along with active range of 8300-8400. PCR % maintained > 1.00 (0.90). Rupee closed at 61.36 by loosing 0.03ps. Market Breadth closed very much positively by active participation small and mid cap indices. Even though Market is going up by up on daily basis, Major Cash Flow Indicators are showing negative divergence, which indicate caution in Trades.
As some positive news flowing from Finance Minister related in Infra Sector and Global Oil Prices are lowering and our S&P Nifty is at higher, our Markets also try to see some more high. Particularly Infra Sector stocks and Oil Distribution Companies may more attractive for short term traders. Nifty likely to open with positive note and trading range could be between 8295/8280and 8370/8420. Below 8280 one can be confident for shorts for short term.
NIFTY SPOT LEVELS: (narrow range indication after passed thr.consolidate market)
Pivot: 8324
Resistance: 8350/8377/8404
Support: 8297/8271/8244
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
PRAJIND: BUY > 65 TRG 67.50 SL 64
SUPRAJIT: BUY >120 TRG 124.50 SL 117.50
INDUSINDBANK: SELL < 712 TRG 701/693 SL 720 (PE ADVISABLE)
HOEL: SELL < 58 TRG 55 SL 61
TITAN: SELL < 386 TRG 377 SL 392 (PE ADVISABLE)
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