- Nifty closed at 6111.25 up by 28.10 points
- Nifty future closed at 6109.40 Discount of 1.85 points
- Open interest of the nifty is 1,83,72,900 down by 37,02,700 most probably huge roll over to next month with fresh long build up also.
- Advances 667 Declines 629 Unchanged 79
- Index gainers Heromotor, JP Ass, BHEL, Coal india....
- Index losers Ranbaxy, Ultratech, SBI, Kotak bank....
- 52 week high Idea, Eicher motors, Icici, Havells....
- 52 week low Guj mineral, Tata chemicals....
- Banned stock for 29th - May = Renuka
- Most active stocks - Unitech, JP ass, Reliance, Hdil, Rcom...
Put option =48031450
------------
Call option=34572950
PCR =1.39
Market outlook for 29-05-2013
As per our view market moved well & finally closed nifty almost equal to our level of 6112. We seen huge rollover in nifty with fresh long build up. So every one expecting nifty would move up in next serious also. We seen huge short covering 6000 & 6100 put options Open interest. also 6100 put & 6200 call both added more than 10 lak shares in OI. It seems nifty will settle down between 6100-6200 range for this expiry. But Put-Call ratio little favor for bears, So be careful on higher level. It stays now 1.39. One thing we are happy to share with you, that is reliance leading this rally will be healthy one. We seen around 2 cr shares in bulk deal in Reliance. So every one betting on reliance. Very soon we would see reliance in 4 digit numbers. Keep your holding with sl of 6043. Intraday profit booking always advisable but, Once it break this level then nifty will fall more.
Any dip near to 6043 will be a good buying chance, don't leave that chance. Bank nifty faces some resistance near 13000 mark. But it could be able break that level very soon. We are hearing some rumors about RBI Credit policy in june month. That is 25BPS cut in repo rate & 25% in CRR cut. Let us see how market will going to react with this news. Risky trader may go long on SBI, it could be more potential to go up in coming days. It looking very cheap now, Due to result impact we seen profit booking otherwise it has to perform well. Investors also may try to buy SBI with 3 month it will move 300-400 points from here. In next serious we don't thing any big events but we are looking market will hit fresh multi year high. Let us wait & watch....
Trend of the day
First half will be green, second half bears may try to push down. Closing will be flat green.
Nifty levels
Nifty support - 6078-6085, 6040-6046 (major)
Nifty Resistance - 6143-6149, 6175-6181 (major)
Stock Calls
Icici : Buy above 1238 sl 1225 target
will be 1250, 1260
M&M : Buy above 975 sl 965 target
will be 985, 993
Option Call
Tata steel : Buy 320 Call around 4.80-5.20 sl 2
Target will be 7, 9
Delivery Call
Hindalco : Buy above 112 sl 108 target
will be 116, 120 ( short term )
keep hold all stocks we will give proper exit level.
THANKS & REGARDS 90422-04422
NSEBSENOW E-mail-- nsebsenow@gmail.co
