MARKET TREND - ROARING STOCKS:
Nifty
Derivatives new series starting with much more premium against its
previous closing as well as Spot Nifty. Obviously it will be minimise
to its realistic premiums during today's trading. Most of the
Global Indices also re-started after its Festival Celebrations. As per
new series derivatives, Nifty trading range is between 8000-8400.
Most of the technical indicators are indicating that market neither in
over sold or over bought zone. But Nifty has been closed below 50 DMA
with selling pressure on 24th. As many economic reforms are being
re-reinforcing by Govt., even though some of the bills were not passed
in Parliament, market will take as positive and stocks specific action
will be taken place. Also, within a week time, 3rd quarter going
to end in this financial year, stock values will be calibrated against
its realistic value Vs. prospectors of that sector. All these 2 months
(till budget session) portfolios and market will be re-organised in related to Economic
Survey, Budget Proposals and Fundamental Values, we have to be careful
while trading. SL maintenance is become must, as Market is
per-dominated by Institutional players and FIIs, average trading volumes
will be high (strip wise) and levels breaking will be easy while
trading.
NIFTY SPOT LEVELS:
Pivot: 8205
Resistance: 8255/8336/8386
Support: 824/8074/7992
NIFTY FnO BAN: NIL
STOCKS FOR THE DAY:
SAIL: BUY > 81.80 TRG 82.75 SL 81
PURVANKARA: BUY > 82 TRG 83.20 SL 79
TCS: SELL < 2488 TRG 2458 SL 2512
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