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

Nifty on Tuesday:- Indian Markets added further gains to its yesterday rally as Nifty hitting one month high and Sensex hitting 4 month high on the back of strong global markets and finance minister said high borrowing costs were burdening consumers indicating of a rate cut by RBI, with Nifty adding 1.03% for the day. All Sectoral indices closed in green with gains of 0.46% to 1.52% led by rate sensitive sectors like Auto, Banking, Realty, however Pharma index closed with marginal loss of 0.05%.

European markets reversed from initial selling pressure to hit fresh four-month highs and closed with gains of 0.37% to 4.19%, on hopes of better measures by European Central Bank to check the Euro-zone debt crisis. US markets opened higher after its Friday rally and slipped from day’s high to close with gains of 0.16% to 0.74% on Monday. Asian markets closed with marginal gains of 0.05% to 0.88%, except Malaysia and Singapore losing 0.51% and 0.13% respectively.

Tracking strong global markets, Nifty opened positive at 5295.40 to hit day’s low of 5281.65 in opening minutes and rallied further to trade in a range of 5313-5325 till opening of European markets. Positive trading in European markets lifted Nifty in afternoon trade to hit day’s high of 5350 and finally closed at 5336.70, adding 54.15 points to its previous close.

As per the derivative and options data, the overall Volume PCR stands at 1.03 as against 0.97. 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 815.95 crores in Equity and 2528.79 crores in F&O (bought 676.88 crores in Index Futures, 542.31 crores in Stock Futures, 1325.68 crores in Index Options, and sold 16.08 crores in Stock Options), whereas DII's sold 55.24 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 booked some profits at higher levels in the markets.

Yesterday, we have written that for intraday trading on Tuesday, resistance at 5380 for Nifty Futures. For paid subscribers we gave 5285 as support. Just check your data, Nifty Futures opened flat at 5301 to hit day’s low of 5295, 10 points above our support of 5285 in opening trade and added further gains to trade in a range of 5319-5336 till opening of European markets. Positive opening in European markets lifted Nifty Futures to hit day’s high of 5366.80, 13.20 points below our resistance of 5380 in afternoon trade and finally closed at 5347.70.

We also gave 5340 as resistance for Nifty Spot. For paid subscribers we gave 5270 as support. Nifty Spot almost tested our levels to hit low of 5281.65, rallied to hit high of 5350 and closed at 5336.70. For Bank Nifty Spot we gave 10610 as resistance. For our clients we gave 10430 as support. Bank Nifty made low of 10460, high of 10617 and closed at 10592. For Subscription Details, Visit:- http://nseind.blogspot.com/p/subscription_03.html

Nifty Future levels for Wednesday:- Resistance at 5395, 5??? and Support at 5300, 5???. More accurate details for paid subscribers only. For Subscription Details, Visit:- http://nseind.blogspot.com/p/subscription_03.html

More live updates for "subscribers" at "tips.nseindia@yahoo.com" and "tips.nseindia@gmail.com" during market hours.

Trading Range for Nifty Spot on 08-08-2012 will be between 5460-5215.

Important levels to watch:-

Nifty Spot:-

Resistance at 5395, 5460 and Support at 5280, 5215.

Bank Nifty Spot :-
Resistance at 10750, 10920 and Support at 10500, 10260.

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

Bullish Stocks:-
ACC, AMBUJACEM, AXISBANK, BAJAJ-AUTO, BANKBARODA, BHEL, DLF, DRREDDY, GAIL, GRASIM, HCLTECH, HDFC, HDFCBANK, HINDUNILVR, ICICIBANK, IDFC, INFY, ITC, JPASSOCIAT, KOTAKBANK, PNB, RANBAXY, RELIANCE, RELINFRA, SAIL, SBIN, TATAMOTORS, TATASTEEL, TCS, WIPRO.

Bearish Stocks:-
ASIANPAINT, BPCL, CAIRN, HEROMOTOCO, HINDALCO, JINDALSTEL, POWERGRID.

Neutral Stocks:-
BHARTIARTL, CIPLA, COALINDIA, LT, M&M, MARUTI, NTPC, ONGC, SESAGOA, SIEMENS, STER, SUNPHARMA, TATAPOWER.

More live updates for "subscribers" at "tips.nseindia@yahoo.com" and "tips.nseindia@gmail.com" during market hours.