19-12-14 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Nifty had pull back rally by taking clues from GST Bill introduction and Global Indices.   As we know, news based spikes can not sustain for long.  But, as Nifty taken correction to respective level, Nifty may try get consolidate by re-testing its recent low of 7960 level.   Once, this exercise completes before 10th Jan, Stocks specific action can be expected.  Till this time market may move with the range of 7950-8300 level.

Yesterday FIIs have bought 1628.20cr in Derivatives Segment.  But they are net sellers in Equity Segment for the worth of 874.29cr.  Since, volume pick taken place in most of mid & cap segment, Market Breadth also improved.   DIIs have bought 648.17cr in Equity segment.   In Index Futures, FIIs have added Longs (15473) and Shorts (13736) for almost the same volumes, with net off 36.09cr value 1737 contracts, by which Index Futures OI has been increased by 29209 contracts.  Rupee gained by 0.53pc and closed at 62.99.  PCR also shot up by 0.06 pts and recorded 0.99.   Derivatives OI range has not changed.  Options OI indicate the trading level is as 8250-7950.  All most all Technical Signals turn positive, except MACD which gives us an idea as; Market is in Sell at High situation.

Today also Nifty may open with positive note (may with gap up) in line with our SGX Nifty and there likely to face resistance in 8230/8280 levels.  Day Traders may cover up their longs (if any) above 8250/8260 levels with 8300 SL.

NIFTY SPOT LEVELS:

Pivot: 8140

Resistance: 8194/8229/8284

Support: 8104/8050/8015

NIFTY FnO BAN: HDIL, UNITECH & WACKORD

STOCKS TO WATCH (POS/DAY BASED ON LEVELS GIVEN) 
KOTAK BANK: SELL < 1254 TRG 1239 SL 1268 (WAIT FOR NIFTY RET. JOURNEY)
IBULLHSG: BUY > 448/455 TRG 455/465 SL 436/447 (BASED ON OPENING)
RECL: BUY > 327 TRG 335 SL 320
PFC: BUY > 292 TRG 306 SL 282