MARKET TREND - ROARING STOCKS:
Yesterday Nifty has been pushed to new slot from 8500 level to 8600 level. Except FMCG & Health Care Indices, all most all Indices positively participated in yesterdays market. Derivatives OI pushed to new range of 8300-8600 from its earlier range of 8300-8500 level. After a week time, FIIs have added positions in derivatives apart from short coverage. Irrespective of FIIs adding in Derivatives also, Nifty Futures OI has been come down i.e to < 2 cr level, by reducing OI 9.84%, which might be in the event of roll overs.
Yesterday FIIs have added 2918 Long contracts and 3531 Short contracts in Index Futures for the net worth of 49.63cr. by which OI increased by 6449 contracts. In Equity Segment FIIs are net buyers for the worth of 407.42cr and DIIs are net sellers for the value of 162.78cr. Due to low participation of mid-cap and small-cap indices, market breadth closed with negative bias. PCR still maintain its over bought zone and record 1.12. Rupee closed at 61.86 by loosing its value of 0.09ps. India Vix also closed with negative bias which indicate Options writing in the system. Due to volumes drive, sentiment factor, and profit booking, technical indicators are giving mixed directions (negative divergence).
Today almost all Asian Markets are running with negative range, except our SGX Nifty (running flat), our Nifty also may open flat and play range bound 8480 - 8565. Below 8480 Nifty may try to get support at 8400 level.
NIFTY SPOT LEVELS:
Pivot: 8518
Resistance: 8546/8562/8590
Support: 8502/8475/8458
NIFTY FnO BAN: GMRINFRA, HDIL & UNITECH
STOCKS TO WATCH (POS/DAY BASED ON LEVELS GIVEN)
HINDZINC: BUY > 166 TRG 168/171 SL 165
IRB: SELL < 267 TRG 262 SL 271
ARVIND: SELL < 289 TRG 285 SL 293
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