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Wednesday, 2 April 2014

Nifty April 2014 series analysis forecast for 3 April 2014 - 2 April 2014

Nifty analysis for 02 APRIL 2014

Nifty made new high for straight 6th day in a row with closing at 6746.50 led by all round buying. Major buying came in PSU Banks and Realty stocks. CNX PSU BANK index closed with gain of 3.42% and CNX REALTY index closed with gain of 2.27%. 


In yesterday's report we wrongly mentioned about today's range as 6696 - 6700 instead of 6696 - 6770. Today Nifty made high of 6763 just short of 6770.


1st and 2nd April proved to be fairly volatile days as mentioned in our TIME forecast.


Highlight of the day 


1. ITC which fall further to make a low of 340

2. VIX instead of cooling rose 2.55% to close at 21.22, as VIX keep on rising, market range will increase, big volatile days are building up
3. RANBAXY rose 9% to close at 404.

FII:DII ratio is now in check with good built up seen in stock futures. First session is seeing DII selling, followed by FII buying. 


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 02-Apr-2014 4650.194055.52594.67
DII 02-Apr-2014 1455.931927.71-471.78

 At the derivative front, FIIs built up long positions in stock futures. This built up of long positions in stock futures and in all segments at higher levels is a good sign. This means higher levels will be hold for some more days and new highs will be seen. Nifty future premium remained in 30-40 points at 38 points. Only 1.45% rise in OI was seen in Nifty futures.


FII DERIVATIVES STATISTICS FOR APR-2014 (Cr)

INDEX FUTURES 413.22
INDEX OPTIONS 1838.92
STOCK FUTURES 840.85
STOCK OPTIONS 31.59



FII DERIVATIVES STATISTICS FOR 02-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
46355
1556.83402741331.7938853513095.06
INDEX OPTIONS 2404397956.472187307225.88133892945098.90
STOCK FUTURES 1068953890.63968213483.69107730737337.31
STOCK OPTIONS 368331253.81365371242.39381881340.09

Stock ideas update

In March 2014 we mentioned about JETAIRWAYS , DENABANK in this post : 

http://blog.tracknifty.com/2014/03/stock-ideas-with-jetairways-denabank.html

Today JETAIRWAYS zoomed 14% to hit all targets in a flash without hitting stop loss.

DENABANK too is now knocking at target of 64 without hitting stop loss. 

We mentioned about POLARIS, TATASTEEL few days back in this post : 

http://blog.tracknifty.com/2014/03/stock-ideas-polaris-tatasteel-31-march.html
POLARIS zoomed 6.8% to make a high of 217 without hitting stop loss. 
TATASTEEL is slowly inching towards its target of 420.

Nifty forecast for 03 APRIL 2014

Nifty is expected to rise in continuation towards 6900 slowly.


Advice for traders

Use any dip towards 6734 for long positions. Range seen : 6734 - 6800.


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