Last close 6430.10
Nifty closed up 72.50 points at 6401.15 while Nifty future closed at 6430.10, premium of 28.95 points. FIIs bought in Cash, net buy 1272.93 Crore while DIIs sold in Cash, net sell 567.10 Crore. FIIs bought in Index Future, Stock future and in Index Option, net buy 2628.48 Crore..!!!
The market sentiment boosted by data showing that foreign institutional investors (FIIs) remained buyers of Indian stocks on Wednesday, 5 March 2014, and data showing a sharp reduction in India’s current account deficit (CAD) in Q3 December 2013. Gains in Asian and European stocks also boosted sentiment on the domestic bourses.
Yesterday FIIs bought 82922 contracts of Index futures and sold 52207 contracts of Index futures which come to net buy of 30715 contracts worth 961 crores with net open interest decreasing by 2135 contracts.
Considering all above facts it seems that FIIs added aggressive long position. All previous short have now squared off…!!! Today being last day of trading week will be the crucial day to watch out the activity of FIIs.
Since last Fifteen days of consecutive FII buying in the cash market and bullish bets confirms that this rally is going to continue…!!! Recent FIIs flows have been fairly strong which indicate a decent rally ahead of elections..!!!
Technically we expect it to zoom to 6480 mark, if crosses and stay above will take this to 6519 mark. We recommend buying on decline considering 6399 as support keeping stop loss of 6369…!!!
STEEL STOCKS WILL BE ON FIRE TODAY
Last close 366.60
Current price levels of the stock means the stock is going at very cheap valuations…!!!
With all technical indicators entered in positive mode…the stock is expected to just catch fire starting today…!!!
Stock shall explode from the current price to Rs.373.55, Rs379…!!!
Stop loss Rs.357.
Last close 914.50
Yes technically stock is ready to explode + HNI’s position in this stock will take this Rs.926, Cross over will take this to Rs.937, Rs.946… !!!