06-08-2012 Nifty, Bank Nifty View and Trading Levels.

Nifty on Friday:- Indian Markets rebounded sharply from their day lows to end flat, amid positive European cues, as metal and rate sensitive shares benefited in the recovery, with Nifty losing 0.23% for the day. Except for Energy, IT and Pharma sectors, which have gained 0.59%, 0.47% and 0.69% each, other Sectoral indices closed in red with a loss of 0.38% to 0.62%.

European markets witnessed volatile trade to erase all its gains and closed with deep cut of 0.88% to 5.33% as European Central Bank President Mario Draghi disappointed investors with his comments that “any new action by the ECB”, which left interest rates unchanged, “was conditional on euro zone governments using their bailout funds first”. US markets opened gap down to witness volatile trade on the back of disappointed news from Europe and closed with loss of 0.45% to 0.80% on Thursday. Asian markets closed mixed with China, Malaysia, Philippines and Singapore adding 0.10% to 1.02%, while Hongkong, Japan, Korea and Taiwan lost 0.12% to 1.13%.

Tracking weak global markets, Nifty opened gap down at 5195.60 and slipped further to hit day’s low of 5164.65 in morning session. After a consolidation trading near support level in a range of 5165-5178 till noon, positive European markets lifted Nifty to hit day’s high of 5220.20 and finally closed at 5215.70, losing 12.05 points from its previous close.

As per the derivative and options data, the overall Volume PCR stands at 1.04 as against 0.98. This indicates fresh short positions in Index and Stock Futures, with continued addition of open interest in Index option segment in the Markets. FII’s bought 208.69 crores in Equity and sold 370.14 crores in F&O (sold 347.69 crores in Index Futures, 146.88 crores in Stock Futures, and bought 117.51 crores in Index Options, 6.91 crores in Stock Options), whereas DII's sold 434.65 crores in equities. This indicates FII's continuing with their buying in Equity, however added fresh short positions in Futures segment of the markets, with hedging done in Index options, whereas DII's booked profits at higher levels in the markets.

On Thursday, we have written that for intraday trading on Friday, support at 5170 for Nifty Futures. For paid subscribers we gave 5235 as initial support. Just check your data, Nifty Futures opened gap down at 5220 and slipped further to hit day’s low of 5176.35, just 6.35 points above our support of 5170 around noon. Respecting our support and backed by positive European markets, Nifty Futures recovered in the second half of the day to hit day’s high of 5246.75 and finally closed at 5241.

We also gave 5170 as support for Nifty Spot. For paid subscribers we gave 5215 as initial support. Nifty Spot almost tested our levels to hit low of 5164.65, day’s high of 5220 and closed at 5215.70. For Bank Nifty Spot we gave 10260 as support. For our clients we gave 10325 as initial support and 10185 as further support. Bank Nifty made low of 10209, high of 10339 and closed at 10316. Bank Nifty made low of 10311, high of 10418 and closed at 10380. For Subscription Details, Visit:- http://nseind.blogspot.com/p/subscription_03.html

Nifty Future levels for Monday:- Resistance at 5355, 5??? and Support at 5200, 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 06-08-2012 will be between 5325-5105.

Important levels to watch:-

Nifty Spot:-

Resistance at 5270, 5325 and Support at 5160, 5105.

Bank Nifty Spot :-
Resistance at 10470, 10640 and Support at 10160, 9990.

Expected Bullish, Bearish and Neutral Stocks in Nifty on 06-08-2012

Bullish Stocks:-
ACC, ASIANPAINT, BHEL, CAIRN, CIPLA, COALINDIA, DLF, DRREDDY, GAIL, GRASIM, HCLTECH, HDFC, HDFCBANK, HEROMOTOCO, INFY, KOTAKBANK, LT, NTPC, ONGC, PNB, RANBAXY, SAIL, SIEMENS, SUNPHARMA, WIPRO, TCS.

Bearish Stocks:-
AMBUJACEM, AXISBANK, BAJAJ-AUTO, BANKBARODA, BPCL, HINDALCO, ICICIBANK, IDFC, ITC, JINDALSTEL, JPASSOCIAT, M&M, MARUTI, POWERGRID, RELIANCE, RELINFRA, SBIN SESAGOA, STER, TATAMOTORS, TATAPOWER, TATASTEEL.

Neutral Stocks:-
BHARTIARTL, HINDUNILVR.

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