- Nifty closed at 5999.35 up by 69.15 points
- Nifty future closed at 6007.40 premium of 8.05
- Open interest of nifty is 1,87,19,400 up by 21,91,300 mostly huge Fresh long build up seen.
- Advances 768 Declines 530 Unchanged 72
- Index gainers Rel infra, Hcl, Tcs, JPass....
- Index losers Cairn, HUL, Hero motor, Hindalco....
- 52 week high Axis bank, Dr reddy, Idea, Rcom....
- 52 week low CARE, Visasteel....
- Banned stocks for 3rd-May -nil
Put option =40309750
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Call option=34530250
PCR =1.17
Market Revenue on 02-05-2013
As per our view market broke 6000 mark before RBI meet, now looking for 52 week high. All eyes on RBI credit policy now. Market expect rate cut of 0.25% which is already factored in this recent rally. So anything above 0.25% will trigger for next rally. If RBI remains unchanged in their rate, then market may fall. But we don't thing market would fall in near term, this rally may hit 6300 mark. PutCall ratio now stable around 1.15-1.18 range which is very strong for bulls. FII's are pumping their money in cash segment, if they continuous this process then new high easily possible in this serious. In open interest huge short covering seen in 5800 call, Now 5900 giving good support with 55 lak shares in OI.
In open interest table something is cooking, so we have cautions on upside. 5900 put added more than 20lak shares in OI. & 6300call added more than 20lak shares. But nifty & bank nifty both OI increased with price, so huge long build up created by bulls. Go short below 5952 or go long above 6023. Banknifty now showing some strength on technical basis. All technical indicators are showing bullish now, let us wait & Watch what RBI will going to do??? Corporates results are not giving good sign now, only few heavy weight results will be coming soon which may give good trigger for market.
Trend flat upto RBI policy, after that bullish towards 6085.
Nifty levels
Nifty Resistance - 6018-6023, 6076-6085 (major)
Nifty support - 5968-5957,5935-5929 (major)
Stock calls:
Sun tv : Buy above 431 sl 426 target
will be 438,443
Wipro : Buy above 353 sl 347 target
will be 358, 363
Bhel : Buy above 194 sl 188 target
will be 199, 204 (positionally)
keep hold all stocks we will give proper exit level.
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NSEBSENOW E-mail-- nsebsenow@gmail.com
