Nifty closed the day at 5230.10 up by 26.45 points. Nifty April future closed at 5226.65, discount of 3.45 points.
- FII sold in Cash (Net sell 156.65 Crore)
- FII sold in index futures and index options but bought in stock futures (Net buy 56.08 Crore)
- DII bought in Cash (Net buy 101.28 Crore)
- US market ended Positive.
- Global cues are flat to Positive.
- SGX nifty is Positive as of now.
- Most Active April Nifty Call Option: 5300 and 5200.
- Most Active March Nifty Put Options: 5100 and 5200.
- Advance Decline for the day was 1045:256
Yesterday Nifty has formed “Small White Candle” with open and low of same rate, Yesterday was second day where Nifty has given close below two and half month old trend line support with dead crossover of 5 days EMA to 20 days EMA. Near term major support placed at 50 days EMA which is placed at 5170 level. Daily momentum indicators are showing sign of weakness but Stochastic is hovering in over sold zone which may give some amount of bounce back in market. Major resistance placed at 5280 level where we may see some supply. Overall market will remain volatile avoid spike on either side.
Current Spot: 5230.10
RSI (7 days): 39.11
Parabolic SAR: 5373
Supports: 5204 - 5177
Resistance: 5257 - 5284
Buy Nifty above 5234 - 5250 - 5375 - 5297 SL - 5227
Sell Nifty below 5219 - 5207 - 5185 - 5160 SL - 5233
BGR Energy (575)
Yesterday stock has given three month old downward sloping trend line breakout with “White Opening Marubozu and strong volume breakout on daily chart. Daily momentum indicators are hovering in bullish zone especially MACDh has given strong buy signal. Short term moving averages are favoring upward movement. Weekly RSI also generating buy signal in bullish zone. Looking at all above parameters traders with high risk appetite can consider Buy above 579 with stop loss of 571 for a Target of 594.
Stock Ideas for the Day
Reliance Industries: Buy above 1071 for targets of 1075, 1089, 1100 SL of 1063
Reliance Industries: Sell below 1058 for targets of 1054, 1043, 1029 SL of 1068
Bajaj Hindustan: Buy above 132.5 for targets of 135, 138 SL of 130
Shrenuj & Co.: Buy above 48.5 for targets of 49.4, 50.50 SL of 47.6
Thomas Cook: Buy above 67.80 for target of 74 SL 65 (One Month)
Lakshami Energy & Food: Buy above 131.5 for target of 138 SL 128 (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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