Nifty closed the day at 5322.45 up by 18.35 points. Nifty April future closed at 5319.90, discount of 2.55 points.
- FII bought in Cash (Net buy 234.23 Crore)
- FII bought in stock futures, index futures and index options (Net buy 366.14 Crore)
- DII sold in Cash (Net sell 73.69 Crore)
- US market ended in Green.
- 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.
- Advance Decline for the day was 693:613
Current Spot: 5322.45
RSI (7 days): 61.57
Parabolic SAR: 5161
Supports: 5304 - 5285
Resistance: 5342 - 5361
MP Values: VAH - 5334, POC - 5327, VAL - 5319
Over all view
All indicators are once again bullish. However till 5400 is crossed decisively the fear of the fall resuming looms. Resistances between 5300-5400 are many. Breaking above 5334 will be a breakout from the down trending channel and could lead to more upsides, but one needs to be very careful in trading the breakout till 5400 is taken out. The nifty has taken support at 5316 thrice today and violation of this level could be the first sign of weakness.
Supports are at 5278-5154. Suggesting a directional strategy at this juncture is difficult. Longs may keep a stop loss of 5278 and shorts a stop loss of 5400.
Buy Nifty above 5330 - 5328 - 5360 - 5375 SL - 5323
Sell Nifty below 5312 - 5307 - 5291 - 5270 SL - 5328
so if this stock manages to close above 155 with good volumes then it could be bought for target of 180.
Stock Ideas for the Day
Reliance Industries: Buy above 1083 for targets of 1089, 1109, 1123 SL of 1075
Reliance Industries: Sell below 1066 for targets of 1060, 1046, 1030 SL of 1080
Gati.: Buy above 72 for targets of 73.5, 76.3 SL of 68.9
Indian Bank: Buy above 222 for targets of 225, 229 SL of 217
Indian Overseas Bank: Buy above 98 for target of 107 SL 96 (One Month)
Allahabad Bank: Buy above 163 for target of 171 SL 159 (One Week)
Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.
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