TrackNifty
 
Free Nifty F&O calls for full one year

Saturday, 3 May 2014

Nifty May 2014 series analysis forecast for 5 May 2014 - 2 May 2014

Nifty analysis for 2 MAY 2014

Nifty made high of 6737.65 early in the morning then kept making lower high and lower low, and once got inside 6721 it remained in pressure. 

Nifty got some buying support from Midcaps, IT and Pharma. BankNifty again slipped down slowly by -13 points. Metal index again lost 1.44%. TATASTEEL, HINDALCO, JINDALSTEL all have lost sharply in straight sessions. 

Highlights of the day were LT, SBIN losing around 2% each after showing 1% plus in the morning and all CALL/PUT options of Nifty ended plus. VIX rose by 8%.

FII and DII after showing some buying on 2 May 2014 showed lack of interest. 

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 2-May-2014 2777.612390.66386.95
DII 2-May-2014 772.41178.05-405.65

And in derivative segment they maintained their index future selling spree but their stock futures  selling halted. 

MAY 2014 SERIES TURNOVER ( Cr )
INDEX FUTURES -2107.96
INDEX OPTIONS 2290.70
STOCK FUTURES -1015.48
STOCK OPTIONS 184.63

FII DERIVATIVES STATISTICS FOR 2-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
32305
1081.37
39440
1324.80
257649
8615.01
INDEX OPTIONS
153186
5068.78
122171
4052.68
1374710
45946.38
STOCK FUTURES
79047
2437.24
80240
2476.05
1230227
37560.46
STOCK OPTIONS
27900
896.01
27649
882.87
45710
1403.41

Stock ideas update

IDFC weakened further but again it holds 110 successfully. Breaking of 110 will bring sharp fall in it.
http://blog.tracknifty.com/2014/04/idfc-may-2014-analysis-forecast-29-may.html

Trade update

We kept holding our position of Nifty shorts as stop loss was taken out early in the morning. 
But if on Monday 5th May 2014 if our stop loss is taken out again, even in the morning, we will exit this time as Nifty escaped testing its low of 6656.
http://nifty-trade.tracknifty.com/2014/04/nse-nifty-may-2014-series-trade-1-30.html

Nifty forecast for 5 May 2014

Nifty after hitting 6660 is likely to bounce back sharply towards 6710 - 6740 levels.

Advice for traders

If global cues looks supportive then buy Nifty near 6656 with stop loss of 20 points for target of 6710.

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