11-04-2012 Nifty, Bank Nifty View and Trading Levels.

Nifty on Tuesday:- Indian Market ended a range bound session on a flattish note as gains in FMCG stocks compensated losses in Index heavy weight INFY and Reliance, with Nifty adding 0.18%. As for sectoral indices, FMCG, Auto, Banking, sectors lifted market while IT, Metal, PSU sectors dragged down.

European markets remain closed for trading due to Easter holidays, while US markets opened gap down and remained under selling pressure to close in red for the fourth consecutive day with loss of 0.87% to 1.18% on Monday. Asian market closed mixed with China, Malaysia, Singapore, Taiwan adding 0.37% to 0.88% while Hongkong, Japan, Korea, Philippines lost 0.09% to 1.15%.

Tracking mixed Asian markets Nifty opened positive at 5254.10 to hit day’s high of 5255.80 in opening trade and slipped to 5218 in the first 15 minutes of trade. Buying interest at lower levels saw Nifty recover to hit 5254, and traded in a narrow range of 5245-5226 till opening of European markets. Weak opening in European markets dragged Nifty to hit day’s low of 5211.85 in afternoon trade. However, Nifty recovered in the last 90 minutes of trade to hit 5254 on the back of recovery in European Markets, closed flat at 5243.60 adding just 9.20 points from previous close.

As per the derivative and options data, the overall Volume PCR stands at 0.92 as against 0.88. This indicates added short positions in Index Futures, with addition of open interest in Index option segment in the Markets. FII’s sold 328.67 crores in Equity  and 439.05 crores in F&O (sold 687.25 crores in Index Futures, and bought 245.67 crores in Stock Futures, 0.51 crores in Index Options, 2.02 crores in Stock Options), whereas DII's also sold 190.18 crores in equities. This indicates FII's continue to book profits in equity, covered short positions in Stock Futures and added further short positions in Index Futures segment of the markets, with hedging done in options, whereas DII's continue to book profits at higher levels in markets.

Yesterday, we have written that for intraday trading on Tuesday, support at 5175 for Nifty Futures. For paid clients we have given 5265 as resistance and 5240 as initial support. Just check your data, Nifty Futures opened at 5261.15, to hit 5268, just 3 points above our level of 5265 in opening trade. Respecting our level of 5265, Nifty Futures slipped to hit 5235, 5 points below our level of 5240 in the first 15 minutes and traded between our levels of 5240-5265 till opening of European Markets. Weak opening in European markets dragged Nifty Futures to day’s low of 5226 in afternoon trade, however recovery in European markets helped Nifty Futures erase its losses in the last 90 minutes of trade to hit day’s high of 5277.50 and closed at 5266.

We also gave 5180 as support for Nifty Spot and for paid clients we gave 5205 as support and 5265 as resistance. Nifty Spot tested our levels to hit high of 5256, and slipped to hit low of 5211.85 and recovered to close at 5243.60. For Bank Nifty Spot we gave 10000 as support and for paid clients we gave 10060 as support and 10200 as resistance. Bank Nifty almost respected our levels to hit low of 10077 and recovered to hit high of 10210 to close at 10196. For Subscription Details, Visit:- http://nseind.blogspot.com/p/subscription_03.html.

Nifty Future levels for Wednesday:- Resistance at 5310, 5??? and Support at 5185, 5???. More accurate details for paid subscribers only. For Subscription Details, Visit:- http://nseind.blogspot.com/p/subscription_03.html

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Trading Range for Nifty Spot on 11-04-2012 will be between 5355-5135.

Important levels to watch:-

Nifty Spot:-

Resistance at 5300, 5355 and Support at 5190, 5135.

Bank Nifty Spot :-
Resistance at 10330, 10480 and Support at 10060, 9910.

Expected Bullish, Bearish and Neutral Stocks in Nifty on 11-04-2012

Bullish Stocks:-
CIPLA, DLF, HINDUNILVR, ITC, POWERGRID, RANBAXY, RCOM, SBIN, SUNPHARMA, TATAMOTORS, TATAPOWER, WIPRO.

Bearish Stocks:-
AXISBANK, BAJAJ-AUTO, BHARTIARTL, BHEL, BPCL, CAIRN, DRREDDY, GAIL, HCLTECH, HINDALCO, ICICIBANK, IDFC, INFY, JINDALSTEL, JPASSOCIAT, LT, MARUTI, NTPC, ONGC, PNB, RELIANCE, RELINFRA, SAIL, SESAGOA, STER, TATASTEEL, TCS.

Neutral Stocks:-
ACC, AMBUJACEM, COALINDIA, GRASIM, HDFC, HDFCBANK, HEROMOTOCO, KOTAKBANK, M&M, RPOWER, SIEMENS.

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