MARKET TREND - ROARING STOCKS:
Friday Market closed in Plus (with red candle), but with negative sense as it could not close above 50 DMA, even with the help of short coverage and accumulation of fresh shorts at high. As most of the professional FIIs are going in holiday, some other will be busy in balancing their Portfolios and our Domestic PMs are busy in re-build their Portfolios by considering the Advance Tax Numbers and Govt. Priorities, we may see more action on Stock Specific and Thematic Pics at market corrections. As these kind of action mostly we see from HNI & PMS organisations, volumes will be high and obviously Technical Levels will not be honored by that specific stocks.
Friday, FIIs by concentrating/accumulating more on hedging tool of Index Options (2042.89 cr alone), derivatives section recorded 2280.30cr buying. But in Equity Segment FIIs are net sellers by 668.85cr and DIIs are net buyers for almost all the same value of Rs.622.77cr. Related to Index Futures, FIIs have added Longs and Shorts in the system for 17601 contracts and 21925 contracts respectively by netting 79.95 cr of sales, by which Index Futures OI increased by 39526 contracts. As we got mixed buying in Equity market, Market Breadth marginally improved, but closed with sellers domination. Rupee lost 0.25 and closed at 63.25. PCR created little scope to improve and closed at 0.91. Even though Derivatives OI range not changed, active range changed to 8200-8300 and Maximum Options added 8350 CE and 8000 PE which indicate middle term trading range.
As all Asian Indices are running with positive note along with our SGX Nifty, our Market also likely to open with positive note (may gap up) and Nifty may get first resistance at 8280 and 2 nd resistance at 8320. Day traders may close their longs and take shorts at 8320 level with 8360 SL. As 24th is near derivative contracts are going to close, pl keep in mind about the premiums and positions.
NIFTY SPOT LEVELS:
Pivot: 8232
Resistance: 8256/8287/8311
Support: 8201/8177/8146
NIFTY FnO BAN: HDIL, IBREAL, UNITECK, WOCKARD
STOCKS TO WATCH (POS/DAY BASED ON LEVELS GIVEN)
VIPIND: SELL < 110 TRG 104 SL 116
PETRONETLNG: BUY > 200 TRG 204/206 SL 197
LIBERTYSHOES: BUY > 243 TRG 252/266 SL 235
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