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Thursday, 22 May 2014

Nifty analysis forecast for 23 May 2014 - 22 May 2014

Nifty analysis for 22 MAY 2014

Nifty  closed 23.50 points higher after sharp swings. It opened around 36 points plus and went flat, then again rose back to 7319 gaining +60 points and then again went flat to finally close at 7276 with 23.50 points higher. 

Market breadth very very positive throughout the day with more than 1000 stocks remaining positive whole day. Realty index was top gainer with 5.26% gain and Media index was top loser with -0.31% loss. BankNifty remained strong whole day with gaining 250 points at one time and finally closing only 100 points higher. IT index remained flat.

DLF was top gainer registering gain of 10% to close at 212, and Hindalco was top loser to close down 2.57% at 155.60.

FII net buying is getting subdued day by day. For the last 3 days their turnover is not enthusiastic at all but mid-cap and small-caps are rising exponentially.

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 22-May-2014 6656.036951.02-294.99
DII 22-May-2014 2086.271883.2203.07

At the derivative front FIIs continued their selling of stock futures bringing stock future OI to 1435438. They bought index futures by 394.85 Cr with increase in OI to 511600. 


Nifty futures premium falls further to mere 17 points with decrease in OI by 4%. BankNifty futures OI in fact increased by 2%.
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 22-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
70637
2603.50
59930
2208.65
511600
18748.75
INDEX OPTIONS
326066
11942.01
321153
11793.04
2529910
92222.64
STOCK FUTURES
163244
6032.80
178702
6520.15
1435438
50658.27
STOCK OPTIONS
58408
2168.84
60017
2234.29
125139
4598.16

Highlight of the day

1. NTPC gaining 7% to close at 156.30.
2. INR strengthening by around 1% to close at 58.35.

Stock ideas update

Our multibagger call of RENUKA working well. It gained 6.4% today to close at 25.7. More rise coming in it.
http://nifty-multibagger-stocks.tracknifty.com/2014/01/multibagger-call-buy-renuka-19-january.html

Trade update

Paid clients today took position in ITC May 2014 series and in Nifty June 2014 series. After identifying very good trade for June 2014 series, we have updated our old and new subscribers to take position in it. Many turned up, and many are still considering it. Don't waste time. 
http://blog.tracknifty.com/2014/05/hedged-trade-for-june-2014-series-22.html

Nifty forecast for 23 MAY 2014

Nifty is likely to trade range-bound with bearish bias. Highs are unlikely to sustain.

Advice for traders

Sell any high towards 7300 with stop loss of xxxx for target of 72xx.

Note : Many traders keep waiting for the trade to finish up, and then subscribe. Time doesn't wait for any one. Good trades doesn't come daily. Nifty is making a very peculiar pattern and this pattern can take Nifty all the way to XXXX.


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