NIFTY
Resistance : 2665 / 2700 / 2735 / 2780 / 2865
Support : 2580 / 2545 / 2515 / 2480 / 2450 / 2415
NIFTY might stay in Range of 2450-2735, Because of (3 Working Days)Truncated Week.We are Expecting Some Bounce Back
WEEKLY MARKET OUTLOOK
NIFTY FUTURE
Trend : Volatile
Total OI of NIFTY FUT up 9.20%, NIFTY FUT down 4.64% last week. OI of NIFTY 2600 CE is up 465.34%
prices down 56.99%, NIFTY 2700 CE is up 132.04% prices down 70.52% last week showing aggressive
call writing. OI of NIFTY 2200 PE is up 20.75% prices down 35.41% last week showing put writing.
NIFTY 2400 PE is up 45.91% prices down 17.12% showing profit booking plus put writing. OI of
NIFTY 2500 PE is up 71.98% prices flat last week showing put buying. We expect NIFTY SPOT
will trade rangebound with volatility next week. NIFTY SPOT will face resistance at 2680-90 levels.
Strong resistance at 2730-40 levels. On downside, NIFTY SPOT support at 2560-70, 2520-30 levels.
Strong support at 2450-60 levels.
SECTOR WATCH
Trend : Bullish
Total OI of ACC FUT up 44.08% prices up 1.45%, AMBUJACEM FUT up 30.36% prices up 6.42%,
GRASIM FUT up 32.13% prices up 1.87% and INDIACEM FUT up 4.76% prices up 2.25% last week.
We expect cement sector to outperform next week. ACC FUT, GRASIM FUT looks strong.
Banking Stocks: Among the banking stocks we sell more selling pressure specially in SBI we are short from rally. Now High volume members can Sell SBI on Rally or Cmp,Target possible 880/850/& Higher Targets in coming week
Power Stocks: Among the power stocks in NTPC some correction is pending as per 52week low is 113 in this stock now support level of 171 below this level we can Sell Next Support Around 165/155 by making strict Stoploss of 185 as per weekly trend.
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