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Monday, 10 March 2014

Nifty analysis forecast for 11 March 2014 - 10 March 2014

Nifty analysis for 10 Mar 2014

Nifty showed tremendous strength at higher levels amidst extremely bearish ASIAN markets. BankNifty provided much needed support by rising 223 points to tackle pressure created by IT pack. 

Remember we are in a SELLING time band according to our TIME forecast. This selling is seen in global markets and our markets are responding to this by going sideways. Stocks like RANBAXY, TATAMOTORS, entire IT pack were very weak today.

Most interesting thing is VIX has gained a massive 26% in last 3 trading sessions. It looks like markets are sitting on a heap of fire.

DII selling increased abnormally at higher levels. But still FIIs didn't give up and kept on buying entire day.

FII trading activity on NSE,BSE and MCX-SX in Capital Market Segment(In Rs. Crores)
Category Date Buy Value Sell Value Net Value
FII 10-Mar-2014 5106.66 3853.01 1253.65
DII 10-Mar-2014 1578.41 2623.23 -1044.82

Nifty future premium remains stagnant at 30 points. FII turnover in derivative segment was interesting with all segments showing selling. 

March 2014 turnover now stands at : 

INDEX FUTURES 3602.99
INDEX OPTIONS 3158.79
STOCK FUTURES 2642.11
STOCK OPTIONS -49.20



FII DERIVATIVES STATISTICS FOR 10-MAR-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
INDEX FUTURES
60014
1940.64
64410
2085.36
430718
14004.20
INDEX OPTIONS
576771
18371.93
592632
18837.58
1535562
50005.34
STOCK FUTURES
129556
4379.23
131573
4468.10
1030395
33550.59
STOCK OPTIONS
82778
2586.59
87473
2725.11
69430
2235.75

Stock ideas update

BHEL surpassed targets on just second day making high of 192. 
http://blog.tracknifty.com/2014/03/stock-ideas-with-hdil-jpassociat-dlf.html

JETAIRWAYS achieves target on first day itself. It made high of 247 and now will move towards its second target of 282.
JINDALSTEL, and DENABANK inched higher, and are expected to hit targets very soon.
http://blog.tracknifty.com/2014/03/stock-ideas-with-jetairways-denabank.html

Nifty forecast for 11 Mar 2014

Nifty is again expected to remain flattish like today with sideways movement like today. Stock specific action will be high with rate sensitives and high beta stocks zooming. 

Advice for traders

Avoid selling like today and instead focus on buying any dip. Don't miss any chance to buy any dip.

Levels : 6500 - 6570.

Anjum S Khan
admin@tracknifty.com
Admin/Analyst
TrackNifty.com