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Tuesday, 1 April 2014

Nifty April 2014 series analysis forecast for 2 April 2014 - 1 April 2014

Nifty analysis for 1 April 2014

Nifty opened with gap up and as mentioned in previous report, it traded with negative bias entire day, and moved up with some late buying coming at lower levels. Today's movement was quite similar to last day's movement. 

BankNifty was the major loser closing -1.21%, IT index was used to keep markets floating at higher levels with closing of 1.52%. 

It was overall dull day without any significant action seen. VIX which soared yesterday because of today's RBI announcement cooled off by 4.34%. 

FIIs were net buyers but overall FII/DII action was non-event. 

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 1-Apr-2014 3568.873183.21385.66
DII 1-Apr-2014 1158.871406.75-247.88

 At derivative front, FIIs were net buyers in all segments but turnover remained less than 100Cr in each. Stock futures saw 3rd consecutive buying day with total turnover of this series now standing at 433.9. Nifty future premium now stands at 35 points.


FII DERIVATIVES STATISTICS FOR APR-2014

INDEX FUTURES 188.17
INDEX OPTIONS 1108.34
STOCK FUTURES 433.90
STOCK OPTIONS 20.17



FII DERIVATIVES STATISTICS FOR 1-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
INDEX FUTURES
64667
2159.68
63650
2100.61
379306
12718.82
INDEX OPTIONS
359063
11839.60
358437
11746.73
1266042
42437.51
STOCK FUTURES
100203
3611.07
97678
3521.52
1059927
36295.59
STOCK OPTIONS
46515
1537.68
46400
1531.30
34378
1191.73

Stock ideas update

Polaris, TataSteel both  moved up as mentioned : 
http://blog.tracknifty.com/2014/03/stock-ideas-polaris-tatasteel-31-march.html

This upside is expected to continue.

Trade update

Today we took long position in Nifty and BankNifty options and kept holding our UNITECH 17.5 CE. Today Nifty holds yesterday's low successfully, which encouraged us to take long positions.

Nifty forecast for 2 April 2014

Nifty is expected to trade with bullish bias.

Advice for traders

In accordance with our yesterday's report, we waited for the closing session and then took long positions. Tomorrow Nifty is likely to trade upwards. Range seen 6696 - 6700.


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