02-01-2013 Nifty, Bank Nifty View and Trading Levels.

Nifty on Tuesday:- Indian Markets ended the first trading day of 2013 on positive note after US policy makers reached an agreement to avert the imminent fiscal cliff, with Nifty adding 0.77% for the day. All Sectoral indices ended positive with gains of 0.14% to 2.31% led by Realty, Metal and Banking indices.

European markets closed mixed in a shortened day of trading over fears of a lack of a resolution to the U.S. "fiscal cliff". U.S markets snapped five-day losing streak to finish the final trading day of 2012 with a sharp rally with gains of 1.28% to 2.00%, on news of a deal to avert "fiscal cliff”. Asian markets closed for trade due to New Year holiday.

Tracking positive U.S. markets, Nifty opened gap up at 5937.65 to hit low of 5935.20 in opening trade and rallied further to trade in a range of 5945-5953 in the first half of the day. After hitting day’s high of 5963.90 in afternoon trade Nifty traded in a small range of 5948-5948 for rest of the day and finally closed at 5950.85, adding 45.75 points to its previous close.

As per the derivative and options data, the overall Volume PCR stands at 1.02 against 1.07. This indicates profit booking in Future segment, with huge addition of open interest in Index option segment of the Markets. FII’s bought 665.05 crores in Equity and 563.33 crores in F&O (sold 144.14 crores in Index Futures, 218.93 crores in Stock Futures, 48.57 crores in Stock Options and bought 974.98 crores in Index Options), whereas DII's sold 406.14 crores in Equities. This indicates FII's buying in Equity and booking profits in Future segment of the markets, with hedging in Index and Stock options, whereas DII's sold at higher levels in the markets.

Yesterday, we have written that for intraday trading on Tuesday resistance at 5995 for Nifty Future. For paid subscribers we gave 5960 as immediate resistance and 6030 as further resistance. Just check your data, Nifty Future opened gap up to hit open low exact to our level of 5958 and rallied to trade in a range of 5990-6005 till noon. After hitting day’s high of 6017.45 in afternoon trade, Nifty Future trade in a small range of 6004-6015 for the rest of the day and finally closed at 6007.50.

We also gave 5960 as resistance for Nifty Spot. For paid subscribers we gave 5935 as initial resistance. Nifty Spot exactly respected our levels to hit open low of 5935, high of 5964 and closed at 5951. For Bank Nifty Spot we gave 12605 as resistance. For our clients we gave 12545 as initial resistance and 12680 as further resistance. Bank Nifty also traded as per our levels to hit low of 12547, high of 12664 and closed at 12654.

Nifty Future levels for Wednesday:- Resistance at 6085, 5??? and Support at 5965, 5???.

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Trading Range for Nifty Spot on 02-01-2013 will be between 6060-5840.

Important levels to watch:-

Nifty Spot:-

Resistance at 6030, 5???, 5??? and Support at 5895, 5???, 5???.

Bank Nifty Spot :-
Resistance at 12785, 12???, 12??? and Support at 12585, 12???, 12???.

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Expected Bullish, Bearish and Neutral Stocks in Nifty on 02-01-2013

Bullish Stocks:-
ACC, AMBUJACEM, ASIANPAINT, AXISBANK, BANKBARODA, BHARTIARTL, BHEL, COALINDIA, DLF, GAIL, GRASIM, HEROMOTOCO, HINDALCO, HINDUNILVR, ICICIBANK, IDFC, JINDALSTEL, JPASSOCIAT, KOTAKBANK, LT, M&M, MARUTI, ONGC, PNB, RELIANCE, RELINFRA, SBIN, SESAGOA, TATAMOTORS, TATASTEEL, WIPRO, ULTRACEMCO.

Bearish Stocks:-
BAJAJ-AUTO, BPCL, HCLTECH, HDFC, INFY, ITC, LUPIN, NTPC, POWERGRID, SUNPHARMA, TCS.

Neutral Stocks:-
CAIRN, CIPLA, DRREDDY, HDFCBANK, RANBAXY, SIEMENS, TATAPOWER.

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