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Monday, 16 June 2014

Nifty analysis for 16 June 2014 and Nifty view forecast for 17 June 2014 - 16 June 2014

Nifty analysis for 16 JUNE 2014

Nifty closed 8 points lower, closing exactly where it opened today at 7534. Fall has completed its 38.2% retracement from low of 30th May 2014 to high of 11th June 2014, and after making low of 7487, market bounced off sharply from there giving a close above 7500.


In our yesterday's report under forecast section we mentioned that Nifty will trade higher, but today although it remained in negative territory, but it kept on trying sharp recovery whole day.

IT index was soaring, so BANKNIFTY support was not needed. IT index soared 1.39% and REALTY index closed 1.26% giving smart recovery from early morning lows. BankNifty closed 76 points lower.

GAIL gained over 4% and DLF gained 2.42%. LT, SBIN closed in red.

FII / DII both remained net sellers surprisingly. 

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 16-June-2014 3715.133909.23-194.1
DII 16-June-2014 1187.211635.51-448.3

In derivative segment FIIs bought index futures and sold stock futures all in small amounts.


Nifty future premium rose to 26 points although with small amount of OI reduction yet again. OI of this series is now at dead low at 14959100.

JUNE 2014 SERIES TURNOVER ( Cr )
INDEX FUTURES -2421.90
INDEX OPTIONS 4296.96
STOCK FUTURES 2886.71
STOCK OPTIONS -227.04


FII DERIVATIVES STATISTICS FOR 16-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
62096
2340.49
60035
2262.32
377168
14248.41
INDEX OPTIONS
409369
15391.72
393171
14813.39
1689917
63647.72
STOCK FUTURES
88263
3331.67
99323
3729.30
1526485
55295.55
STOCK OPTIONS
80473
3111.99
81631
3155.55
108581
4058.73

Stock ideas update

RENUKA closed 1.1% higher at 26.85 after making false low below 26.

Today we gave a buy call for BHEL which can be tracked here : 
http://nifty-trade.tracknifty.com/2014/06/nifty-stk-june-series-trade-13-16-june.html

Trade update

No more free F&O trades for this series.

Nifty forecast for 17 JUNE 2014

Nifty is likely to trade higher.

Advice for traders

Buy Nifty above 7540 for 20-30 points gain. Buying area exists above 7532 only. Avoid selling.

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