Nifty closed the day at 5262.45 down by 40.40 points. Nifty April future closed at 5265.5, premium of 3.05 points.
- FII bought in Cash (Net buy 579.29 Crore)
- FII bought in index options but sold in stock futures and index futures (Net sell 69.29 Crore)
- DII bought in Cash (Net buy 100.11 Crore)
- US market ended flat.
- Global cues are flat to Positive.
- SGX nifty is Positive as of now.
- Most Active April Nifty Call Option: 5400 and 5300.
- Most Active March Nifty Put Options: 5200 and 5300.
- Put Call ratio stands at 0.99
Inside day which is indecision, but the bearish candle almost engulfing of yesterday's real body shows a bearish bias. Daily oscillators are moving down from overbought area after showing negative divergence and half hourly oscillators are showing weakness. Strong support at 5187 to 5175.
Today was the first day which witnessed selling and ended at the low. I had called for caution since last few days on weakening internals of the market .The Nifty is still to make a lower low, so the bias is still up and shorting the market could still be risky.
NIFTY Technical
Current Spot: 5262.45
Pivot: 5280
3DEMA: 5272
7DEMA: 5255
20DEMA: 5171
RSI (7 days): 63.34
Supports: 5234 - 5206
Resistance: 5308 - 5353
Target Nifty
Buy Nifty above 5293 - 5313 - 5354 - 5381 SL - 5287
Sell Nifty below 5266 - 5250 - 5224 - 5183 SL - 5250
Option Open Interest
Option & Futures Call
Buy Nifty 5200PE above 77.9 for targets of 87.1, 96.6.4 SL - 72.8
Stock Ideas for the Day
Reliance Industries: Buy above 1098 for targets of 1100, 1111, 1121 SL of 1090
Reliance Industries: Sell below 1083 for targets of 1081, 1072, 1059 SL of 1095
Sree Renuka Sugar: Buy above 72 for targets of 73.5, 75.3 SL of 70
Praj Industries: Buy above 86 for targets of 88, 90.5 SL of 84
Bank of India: Buy above 345 for targets of 349, 356 SL of 338
Positional Call
Mundra Port: Buy above 779 for targets of 835 SL of 759 (One Month)
Nelco: Buy above 143 for targets of 151 SL of 140 (One Week)
Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.
Thanks and Regards
S&P Wealth Creators
Call 09831497250 or mail us @ S&P Wealth Creators with your Name and Mobile No. for subscription offer of intraday calls during Market hours.
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