MARKET TREND - ROARING STOCKS:
Friday Nifty and Bank Nifty made 'Baraat' along with other Indices with the hopes of 'Aur Acha Din Ayega'. But surprisingly China has done (interest rate cut) much before than our Indian Govt. Obviously much pressure will be mounted on RBI Governor to reduce interest rates. Today RBI going to announce CAD position, which expected positive numbers. Winter Parliament Session also going to start from today, where there will be much Hungama (may not be much constructive as Parliamentarians are looking for more political mailage) about other things than bills. Once proposed Economic Bills passed, it will be added advantage to our Stock Market.
Friday FIIs have made advantage of market moment and squared off positions in Derivatives segment for the worth of 334.39 cr, which most are stock futures. In index Futures FIIs have continued their short coverage with 15366 contracts and added shorts of 990 contracts, by which OI increased by 16356 contracts. But in Equity Segment both FIIs and DIIs are long side for the worth of 122.50 cr and 137.59 cr respectively. Even at this banging gains also Market Breadth recorded negative numbers. PCR recorded 1.12. Rupee gained with 0.16 ps and closed at 61.77. Derivative OI range maintained between 8300-8500 but active range improved by 100 pts to 8400-8500.
Today our SGX Nifty opened with much excited way and running with 55 pts (at 8AM) plus, and other Asian Markets are running mixed. Our Nifty may open with Positive note and go volatile, due to roll over exercise. 8520 may act resistance, day traders may go short/book profit with 8550 SL and below 8480 we may see more profit booking. 8350 and 8280 have become more important to Bulls to maintain their grip.
NIFTY SPOT LEVELS:
Pivot: 8455
Resistance: 8512/8546/8603
Support: 8420/8364/8330
NIFTY FnO BAN: UNITECH & HDIL
STOCKS TO WATCH (POS/DAY BASED ON LEVELS GIVEN)
HINDALCO: Buy > 159 Trg 162/164 SL 157
SUNTV: BUY > 320 TRG 325 SL 317 (OR) SELL < 309 TRG 302 SL 316
GODREJIND: SELL < 288 TRG 284 SL 292
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