Nifty closed 1.6% higher at 6779 with support coming across the board. IT and Banks both contributed to the upside. TATAMOTORS and HINDALCO were top gainers of 4% each. LT remained sluggish. Both LT and YESBANK have fallen to short term bearish territory. Both these stocks have remained the face of Nifty since Feb 2014 series when foundation of this rally was set.
VIX remained flat. VIX is maintaining higher levels surprisingly. It is now in danger zone, and so risk in the markets have increased a lot.
In our forecast for 15th April 2014 we mentioned about Nifty to trade with bullish bias, but Nifty fell on both 15th and 16th. But it covered nearly all its losses on 17th April 2014.
FII turnover was low, as DII selling was low too. Last few days have seen FII buying decreasing sharply at higher levels.
|FII trading activity on NSE,BSE and MCX-SX in Capital Market Segment(Rs. Crores)|
|Category||Date||Buy Value||Sell Value||Net Value|
And in derivative segment they sold stock futures after continuous buying from last 6 days or so.
|FII DERIVATIVES STATISTICS FOR 17-APR-2014|
|BUY||SELL||OPEN INTEREST AT THE END OF THE DAY|
|No. of contracts||Amt in Crores||No. of contracts||Amt in Crores||No. of contracts||Amt in Crores|
No ideas to track now. Renuka is going sideways and downside looks protected now with too many narrow range sessions.
In this series we have booked 183% option profit in our UNITECH 17.5 CE.
We are holding out Nifty longs with 2 lots of Nifty Futures at average price of 6712.
We are holding out Nifty 7000 CE at average price of 13/-.
Nifty is expected to trade higher towards 6850.
Trade with range-bound bias of 6850 - 6800 until expiry.
If you want to make extremely good money until 6th May 2014, contact us at firstname.lastname@example.org.