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Sunday, 25 May 2014

Nifty analysis forecast for 26 May 2014 - 23 May 2014

Nifty analysis for 23 MAY 2014

Nifty finally closed 90 points higher on 23rd May 2014 after getting support from SBIN which zoomed 10% after its results to close at 2753. BankNifty which remained flat for most of the time finally closed at 15285 up 229.95 points. IT remained flat. PSU Bank index remained top gainer by around 8%. MidCaps and Smallcaps continued attracting buying.

In our last report we mentioned that Nifty is likely to trade with bearish bias and highs are unlikely to sustain and this was exactly happened but SBIN results took Nifty and BankNifty higher. Though we expected to remain Nifty below 7300 it eventually remained above 7300.

FIIs turned buyers after taking a pause. DIIs now took pause in their selling.

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 23-May-2014 6726.686309.88416.80
DII 23-May-2014 1864.562000.06-135.3

In derivative segment Index futures were sold but Index options remained in covering mode as all options are highly written away and now coming towards the positive turnover. FIIs remained remained net sellers again in Stock futures with increase in OI. FIIs are now adding shorts in heavyweights. 

MAY 2014 SERIES TURNOVER ( Cr )
INDEX FUTURES -267.01
INDEX OPTIONS -4714.49
STOCK FUTURES -11454.80
STOCK OPTIONS -354.55


FII DERIVATIVES STATISTICS FOR 23-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
88570
3273.03
100599
3717.42
532001
19740.67
INDEX OPTIONS
547279
20150.77
526672
19376.29
2547357
94036.59
STOCK FUTURES
218184
7896.54
217904
7920.69
1451214
52447.46
STOCK OPTIONS
116603
4091.68
120596
4229.73
131348
4943.14

Highlight of the day

1. SBIN zoomed 10%
2. PSU Bank index surged 8%
3. VIX remained flat after 4 days of cooling

Stock ideas update

Multibagger recommendation Renuka continued its north ward journey.

Trade update

No free ideas. Paid clients took positions for June 2014 series.

Nifty forecast for 26 MAY 2014

Nifty is likely to move up further towards 7500.

Advice for traders

Take long position with stop loss of 7331. Buying area exists only above 7331 spot.

Note Rates for our JUNE 2014 option recommendation slashed down further to throw away price of 500/- only. Hurry up !

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