07-08-2012 Nifty, Bank Nifty View and Trading Levels.

Nifty on Monday:- Indian Markets snapped its two day losses to end with firm gains backed by strong global cues, led by Index heavy weight Reliance surging 5.7% and private bank stocks, with Nifty adding 1.28% for the day. Except for Fmcg losing 0.21%, all other Sectoral indices closed with gains of 0.48% to 2.81% led by Energy, Banking and Realty.

European markets erased all its previous day losses to close at 4 month high with massive gains of 2.22% to 6.23%, as investors felt the European Central Bank's pledge to tackle the region's debt crisis could bring breathing space for troubled economies. US markets opened gap up and traded firm to close with gains of 2.00% to 2.30% on Friday after better-than-anticipated jobs report and an improved ISM non-manufacturing survey. All Asian markets rallied to close with gains of 0.14% to 2.01%.

Tracking strong global markets, Nifty opened gap up to hit open low of 5260.85 and rallied further to trade in a range of 5270-5291 till afternoon. Recovery in European markets from its initial selling lifted Nifty in the last hour of trading to hit day’s high of 5293.20 and finally closed at 5282.55, adding 66.85 points to its previous close.

As per the derivative and options data, the overall Volume PCR stands at 0.97 as against 1.04. This indicates fresh long positions in Index and Stock Futures, with continued addition of open interest in Index option segment in the Markets. FII’s bought 555.73 crores in Equity and 1018.99 crores in F&O (bought 381.26 crores in Index Futures, 614.86 crores in Stock Futures, 79.85 crores in Index Options, and sold 56.98 crores in Stock Options), whereas DII's sold 4.23 crores in equities. This indicates FII's taking long positions in all segments of the markets, with hedging done in Index options, whereas DII's remained in intraday trading in the markets.

Yesterday, we have written that for intraday trading on Monday, resistance at 5355 for Nifty Futures. For paid subscribers we gave 5285, 5320 as initial resistance levels. Just check your data, Nifty Futures opened gap up at 5287.15 to hit day’s low of 5278.10 in opening trade and rallied to 5305.95 in the first hour of trade. After trading in a range of 5291-5304 Nifty Futures slipped to 5280, just 5 points below our level of 5285, which acted as support on reversal in afternoon trade, however recovery in European markets helped Nifty hit day’s high of 5310, 10 points below our next resistance of 5320 in the last hour and finally closed at 5291.50.

We also gave 5270, 5325 as resistance for Nifty Spot. For paid subscribers we gave 5295 as intermediate resistance. Nifty Spot exactly tested our levels to hit open low of 5260.85, rallied to hit high of 5293.20 and closed at 5282.55. For Bank Nifty Spot we gave 10470 as resistance. For our clients we gave 10400 as initial resistance and 10550 as further resistance. Bank Nifty made open low of 10427, high of 10501 and closed at 10462. For Subscription Details, Visit:- http://nseind.blogspot.com/p/subscription_03.html

Nifty Future levels for Tuesday:- Resistance at 5380, 5??? and Support at 5215, 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 07-08-2012 will be between 5405-5160.

Important levels to watch:-

Nifty Spot:-

Resistance at 5340, 5405 and Support at 5225, 5160.

Bank Nifty Spot :-
Resistance at 10610, 10770 and Support at 10310, 10150.

Expected Bullish, Bearish and Neutral Stocks in Nifty on 07-08-2012

Bullish Stocks:-
ACC, AMBUJACEM, ASIANPAINT, AXISBANK, BAJAJ-AUTO, BANKBARODA, BHEL, DLF, DRREDDY, GAIL, GRASIM, HCLTECH, HDFC, HDFCBANK, HEROMOTOCO, ICICIBANK, JPASSOCIAT, KOTAKBANK, LT, M&M, MARUTI, PNB, POWERGRID, RANBAXY, RELIANCE, RELINFRA, SAIL, STER, SUNPHARMA, TATAMOTORS, TATASTEEL.

Bearish Stocks:-
BPCL, CAIRN, HINDALCO, IDFC, ITC, INFY, JINDALSTEL, SBIN SESAGOA, SIEMENS, TATAPOWER, TCS, WIPRO.

Neutral Stocks:-
BHARTIARTL, CIPLA, COALINDIA, HINDUNILVR, NTPC, ONGC.

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