29-12-14 MARKET TECHNICAL VIEW:

MARKET TREND - ROARING STOCKS:

Friday market got consolidated through premium adjustments.   Due to Festival Holidays market went through sub-dude volumes.  Our DIIs have picked some value stocks.   As advance tax money and other saving money related to tax-saving has pumped to market through fund houses, which generally pick value stocks for long term horizon.  Also news driven pics also taking in the market.   Due to year end PMS and other HNIs are likely to re-write their portfolios, which may invite volatility in the market.  As many short term investors and other delivery based traders are away from market, their portfolios seems to be hedged with index options.  Highest addition of 8600 CE and 7900PE indicate this protective action in the market.  But Derivative Highest OI remain in the range of 8000-8400. As market technical improved with DIIs participation, and Derivatives active range is also between 8200-8400 market likely to be in this range for couple of days. Unless Nifty Spot closes above 8350 on EOD basis, up trend can't be re-established.

Friday, FIIs are marginal net buyers in Equity for the worth of 39.97cr and DIIs are net buyers for the amount of 417.29cr.   In Derivative Section also FIIs are net buyers for the value of 1014.43cr out of which major contribution is 970.74 cr of Index Options.  In Index Futures segment FIIs have added 2789cr shorts and 960 longs for netting of 1829cr sales by decreasing OI of 3749 contracts.   But in Index Options FIIs have added 33415 Longs and 5826 shorts in the system in which major addition taken place in 8600 CE and 7900PE, which indicate the volatile market in coming days.  Rupee closed at 63.56 by loosing 0.04ps.  PCR also gained 0.08 (narrowed vacuum)  and closed at 0.96.

Today our Nifty may open positive in line with Asian Peers and SGX Nifty, if it has not cared the Bombing incident at Bangalore.  Nifty may get support at 8200 and 8270/8280 may act as resistance.

NIFTY SPOT LEVELS:

Pivot: 8194

Resistance: 8241/8281/8327

Support: 8154/8107/8068

NIFTY FnO BAN: NIL

STOCKS TO WATCH (POS/DAY BASED ON LEVELS GIVEN)

RECL: BUY > 332 TRG 340 SL 327

EXIDE: BUY: 172 TRG 176/180 SL 170

JSWHL: BUY > 926 TRG 937/944 SL 918

NCC: SELL < 80 TRG 78/76 SL 81.50