10-08-2012 Nifty, Bank Nifty View and Trading Levels.

Nifty on Thursday:- Indian Markets snapped its three day gains to end lower after an unexpected slump in industrial output adding concerns about economic growth, while mobile carrier Bharti Airtel continued to drop, ending near its two year lows, with Nifty losing 0.28% for the day. Sectoral indices continue to close mixed with Auto, Fmcg, and Metal indices adding 0.46% to 1.48%, while Banking, Energy, Infra, Pharma and Realty indices lost 0.11% to 0.79%.

European markets snapped its four-day rally to witness profit booking to close mixed with Germany, Italy and UK closing flat, while France and Spain lost 0.43% and 0.84% respectively. US markets opened marginal negative to witness choppy trading and closed flat on Wednesday. Asian markets continue to close with gains of 0.40% to 1.96%.

Tracking positive Asian markets, Nifty opened positive at 5348.30 and traded choppy in a range of 5350-5360 in the morning session. Below estimated IIP data and weakness in European markets dragged Nifty to hit day’s low of 5312 in the second half of the day and finally closed at 5323, losing 15.05 points from its previous close.

As per the derivative and options data, the overall Volume PCR stands at 1.01 as against 0.98. This indicates continued long positions in Index Futures and profit booking in Stock Futures segment, with addition of open interest in Index option segment of the Markets. FII’s bought 337.14 crores in Equity and 133.40 crores in F&O (bought 27.23 crores in Index Futures, 437.95 crores in Index Options, and sold 330.99 crores in Stock Futures, 0.80 crores in Stock Options), whereas DII's sold 754.40 crores in equities. This indicates FII's continue to add long positions in Equity and Index Futures, however booked profits in Stock Futures segment of the markets, with hedging done in Index options, whereas DII's continued their profit booking at higher levels in the markets.

Yesterday, we have written that for intraday trading on Wednesday, resistance at 5430 for Nifty Futures. For paid subscribers we gave 5395 as initial resistance and 5345 as support. Just check your data, Nifty Futures opened positive exact at our level of 5365 and inched further to hit day’s high of 5384, 11 points below our resistance of 5395 and traded in a range of 5368-5380 till 11:00 AM. Below estimated IIP data and weakness in European markets dragged Nifty Futures to hit day’s low of 5332, however recovered in the last hour and finally closed flat at 5350.

We also gave 5395 as resistance for Nifty Spot. For paid subscribers we gave 5370 as initial resistance and 5305 as support. Nifty Spot exactly tested our levels to hit high of 5368, low of 5312 and closed at 5323. For Bank Nifty Spot we gave 10690 as resistance. For our clients we gave 10440 as support. Bank Nifty made high of 10614, low of 10425 and closed at 10446. For Subscription Details, Visit:- http://nseind.blogspot.com/p/subscription_03.html

Nifty Future levels for Friday:- Resistance at 5390, 5??? and Support at 5275, 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 10-08-2012 will be between 5435-5210.

Important levels to watch:-

Nifty Spot:-Resistance at 5380, 5435 and Support at 5265, 5210.

Bank Nifty Spot :-
Resistance at 10590, 10750 and Support at 10300, 10140.

Expected Bullish, Bearish and Neutral Stocks in Nifty on 10-08-2012

Bullish Stocks:-
ACC, AMBUJACEM, AXISBANK, BAJAJ-AUTO, BHEL, CIPLA, COALINDIA, DRREDDY, GRASIM, HCLTECH, HDFCBANK, ITC, KOTAKBANK, LT, M&M, NTPC, RANBAXY, RELIANCE, RELINFRA, SAIL, SBIN, SESAGOA, STER, SUNPHARMA, TATAPOWER, TCS, WIPRO.

Bearish Stocks:-
BANKBARODA, BHARTIARTL, BPCL, CAIRN, DLF, GAIL, HDFC, HEROMOTOCO, HINDALCO, HINDUNILVR, ICICIBANK, IDFC, INFY, JINDALSTEL, JPASSOCIAT, ONGC, PNB, POWERGRID, SIEMENS.

Neutral Stocks:-
ASIANPAINT, MARUTI, TATAMOTORS, TATASTEEL.

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