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Tuesday, 29 April 2014

Nifty May 2014 series analysis forecast for 30 April 2014 - 29 April 2014

Nifty analysis for MAY 2014

Nifty closed sharply down at 6715.25 losing 46 points. It has closed in red 3rd time in a row. Today selling pressure was seen across the board with all sectors closed in red sharply. Metal index lost the most -2.76%. Hindalco, Tatasteel, Sail all lost ground quite sharply. 

Despite this fall VIX kept cooling off and -1% lower at 31.05. 

Highlight of the day is Rupee which appreciated around 0.50%. This is rupees 3rd consecutive appreciation despite market falling.

BankNifty closed -171 points down and IT index closed flat. FII buying increased today but still they didn't bother to hold the market.

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 29-MAY-2014 2736.042448.06287.98
DII 29-MAY-2014 853.041403.93-550.89

And in derivative segment they kept selling stock futures in continuation to their selling spree since April 2014 series. 


MAY 2014 SERIES TURNOVER ( Cr )
INDEX FUTURES -1597.45
INDEX OPTIONS 1379.24
STOCK FUTURES -1027.37
STOCK OPTIONS 181.29


FII DERIVATIVES STATISTICS FOR -MAY-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
55073
1850.86
67524
2278.42
249096
8374.33
INDEX OPTIONS
157470
5263.64
168789
5696.26
1204231
40372.73
STOCK FUTURES
79274
2500.59
100610
3191.11
1213311
37546.15
STOCK OPTIONS
21672
720.39
21728
721.80
36403
1137.78

Stock ideas update

IDFC stock idea is posted here : 

http://blog.tracknifty.com/2014/04/idfc-may-2014-analysis-forecast-29-may.html

Trade update

We have taken a position today in Options for paid subscribers, and looking forward for big gains.

Nifty forecast for 30 MAY 2014

Nifty is likely to remain in selling mode with some bounce in morning session. 6753 is resistance for bears.

Advice for traders

Avoid selling even though market can fall more. Better is to wait for lower levels to buy. Still for intraday trades, one can try selling any bounce towards 6753 with stop loss of 6772 for target of 6700.

Note
Paid subscribers have started taking positions. Hurry up !

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