MARKET TREND - ROARING STOCKS:
Yesterday Nifty made upward consolidation with little volatility. By holding Nifty at 50 DMA, lower base was increased from 7900-8100. Early trades were supported by Asian Markets and Media News regarding "Make in India" concepts and objectives announcement by FM. Indian metal & auto sectors were overwhelmed with support and gained than others. After the Land Acquisition Bill announcement, most of the realty sector stocks have lost their most of the gains. As well as after Europe Markets opened, our other indices also started giving up its gains and finally Bank Nifty closed in red. As there is sign of strengthening of USD, our Rupee depreciated by 0.11 ps and closed at 63.67.
Yesterday FIIs are net buyers in Derivative Market by 1834.61cr and net sellers in Equity Market for the worth of 204.22cr. FIIs are positive buyers in Index Futures and mostly in Options Products. DIIs are net buyers in Equity Segment for the worth of 360.38cr by which market breadth sustained its positiveness. Technical Indicators are mixed with Positiveness in Directional Indicators and Negative in Money Flow Indicators. Derivatives OI range was intact between 8000-8400 along with active range of 8200-8400. As we mentioned highest 8600 CE and 8100 PE were added, which gives us broader range of market for shorter period. PCR created little gap (0.08pts) and closed at 0.88. India Vix gained by 0.12 pts and closed at 14.58 which gives us indication regarding options accumulation.
Today morning all our Asian Peers are running with mixed gains and our SGX Nifty also lost its opening gains and running in green with minimum points (8pts Positive) by 8 AM. Our Nifty also may open flat with positive bias and likely to get support at 8215/8180 level and may get resistance at 8320/8340 level.
NIFTY SPOT LEVELS:
Pivot: 8246
Resistance: 8278/8311/8343
Support: 8214/8182/8149
NIFTY FnO BAN: NIL
STOCKS TO WATCH (POS/DAY BASED ON LEVELS GIVEN)
HINDALCO: BUY > 156 TRG 159/161 SL 154
RELIANCE: BUY > 894 TRG 902 SL 890
DLF: SELL < 137 TRG 134 SL 139
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