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Friday, 30 May 2014

Nifty analysis forecast for 2 June 2014 - 30 May 2014

Nifty analysis for 30 May 2014

Nifty after showing initial enthusiasm went onto close absolute flat down 0.1% at 7229.95. Nifty went 37 points plus and then kept falling entire day inch by inch flirting with 7230 level. Market breadth  was very good in the first half and then slowly deteriorated. We mentioned in our last report that buying area exists above 7290 and today Nifty couldnt cross it. Today was the last day of positivity which we mentioned at several places and in our time forecast : 

http://nifty-forecast.tracknifty.com/2014/05/nifty-time-and-technical-forecast-for_26.html

BankNifty tanked badly by 1.58% and IT index remained slightly on the plus side with gain of 0.48%. PSU Bank index lost the most by 2.68% and Pharma sector which was out of picture for quite some time posted 3.05% gain.


FII buying was huge but we believe it was in only selective stocks like HINDUNILVR etc.


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 30-May-2014 17271.9314294.312977.62
DII 30-May-2014 2218.212676.36-458.15

Index futures saw buying and stock futures saw continuation selling in fresh series too by FIIs.



Nifty premium stands at merely 4 points with 8% OI addition which must be short positions.


MAY 2014 SERIES TURNOVER ( Cr )
INDEX FUTURES 211.63
INDEX OPTIONS 310.53
STOCK FUTURES -839.93
STOCK OPTIONS 71.07


FII DERIVATIVES STATISTICS FOR 30-MAY-2014
BUYSELLOPEN INTEREST AT THE END OF THE DAY
No. of contractsAmt in CroresNo. of contractsAmt in CroresNo. of contractsAmt in Crores
INDEX FUTURES
67635
2463.18
61775
2251.55
291729
10586.79
INDEX OPTIONS
202749
7370.59
192852
7060.06
1192246
43127.58
STOCK FUTURES
167499
5863.95
188559
6703.89
1444369
50364.22
STOCK OPTIONS
36140
1353.94
34332
1282.87
30531
1122.73

Highlight of the day


Nifty opening low was 7118.

HINDUNILVR gained 8.4% to close at 603.35.


Nifty went up 37 points in the morning and was down 15 points with entire action taking place in a matter of 18 minutes.


Stock ideas update

Renuka remained plus to close at 24.8 up 1.2% .

http://nifty-multibagger-stocks.tracknifty.com/2014/01/multibagger-call-buy-renuka-19-january.html

Trade update

We exited our Nifty shorts with gain of 47 points without waiting for 7200 to get hit.

http://nifty-trade.tracknifty.com/2014/05/nse-nifty-june-2014-series-trade-1.html

Our June 2014 series booked profit now stands at 47 points.


Nifty forecast for 2 JUNE 2014


Nifty is likely to take out 7250 on 2 June 2014.


Advice for traders

Avoid shorts at current levels and instead wait for 7250+ levels.


Note : Read our TIME and TECHNICAL forecast for June 2014 series

http://nifty-forecast.tracknifty.com/2014/05/Nifty-time-and-technical-forecast-for-June-2014-series.html

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