MARKET TREND - ROARING STOCKS:
Yesterday Market witnessed sell at high and same trend likely to continue. But range is between 8300-8400. Yesterday FIIs are marginally net sellers in Derivative Segment by squaring of longs and adding shorts in small quantity. They are long in Equity Market >690 by hedging with options for worth of > 583 cr. DIIs are net sellers. Market breadth weaken further. Derivatives base support improved 8300 from its 8000 level. Active range is between 8300-8400.
Today Nifty likely to open flat and may get resistance at yesterday high 8400/8410 and likely to get support at 8320. As short coverages and selling at high is witnessing market volatility will be seen with in these range. As today week end traders may be more in selling side to square off their positions and enjoy week end.
NIFTY SPOT LEVELS:
Pivot: 8362
Resistance: 8404/8450/8491
Support: 8316/8274/8228
NIFTY FnO BAN: IBREAL, UNITECH
STOCKS FOR DAY:
FEDERAL BANK: SELL < 143 TRG 139 SL 147
MANIND: BUY > 76 TRG 81 SL 72
INDHUMEPIPE: BUY > 323 TRG 336/352 SL 307
NO B/F HOLDINGS.
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