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Tuesday, 3 June 2014

Nifty analysis forecast for 4 June 2014 - 3 June 2014

Nifty analysis for 3 JUNE 2014

Nifty registered back to back gains to close above 7415 for the first time in its history. In our last report we mentioned about fall of Nifty towards 7343, after policy announcement it did fell into negative territory towards 7342 and rose from there. Strategy to sell before policy announcement worked well.


We tweeted during market hours regarding possible dips and today market gave two sharp dips to shake bull's confidence.




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Today was a day for metals which soared 4.85% with SSLT soaring 6.4% and TATASTEEL soaring 6.9%. Realty sector too contributed 3% to the index with DLF closing 4.8% higher.

Today finally DII returned to buying albeit in small amount. Overall buying looks smart now.

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 3-June-2014 5615.855040.76575.09
DII 3-June-2014 1486.771386.9699.81

In derivative segment index futures saw minor selling and stock futures saw smart buying which must be short covering as OI came down to 1457211. Index futures selling could be in BankNifty as technicals are not supporting it as of now for upmove. So BankNifty might consolidate here.



JUNE 2014 SERIES TURNOVER ( Cr )
INDEX FUTURES 397.12
INDEX OPTIONS 1978.71
STOCK FUTURES -272.36
STOCK OPTIONS 31.17

FII DERIVATIVES STATISTICS FOR 3-JUNE-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
52361
1948.26
55935
2080.73
274445
10228.06
INDEX OPTIONS
354783
13156.83
343505
12724.65
1320130
49000.98
STOCK FUTURES
104800
3960.59
91803
3417.00
1457211
52520.10
STOCK OPTIONS
55914
2135.55
56553
2139.63
55798
2059.40

Stock ideas update

RENUKA zoomed 10% today to make a high of 27.7.
http://nifty-multibagger-stocks.tracknifty.com/2014/01/multibagger-call-buy-renuka-19-january.html

And today we took position in HINDALCO for some gains.
http://nifty-trade.tracknifty.com/2014/06/nifty-stk-june-series-trade-5-3-june.html

Nifty forecast for 4 JUNE 2014

Nifty is likely to move up. But buying should come in later half, first half likely to be sideways.

Advice for traders

Use any dip towards 7390 for long position for target of 7420-7430 with stop loss of 7370.

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