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Monday, 23 June 2014

Nifty analysis for 23 June 2014 and Nifty view forecast for 24 June 2014 - 23 June 2014

Nifty analysis for 23 JUNE 2014

Nifty opened flattish positive, zoomed to hit first zone resistance of 7535 and fell sharply from there. We mentioned 2 trading zones in our last report under Advice for traders section, and today Nifty uses first zone successfully and can't enter second zone.


Today we were expecting 70 points plus in Nifty which it didn't but more than 800 stocks closed in positive, and at a time BankNifty was 140 points plus and closed 78 points plus. All sectoral indices closed in green except FMCG and IT which both tanked or were made to tank to create stupid manipulated pressure on Nifty. 

BHEL, LT, YESBANK, DLF, SBIN all closed positive, but ITC tanked badly and so did INFY.

FII : DII turnover ratio remained sub-dued indicating more artificial fall coming in this series.

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 23-June-2014 2764.532979.02-214.49
DII 23-June-2014 1655.841538.41117.43

In derivative segment FIIs sold both stock and index futures. Nifty futures continues its shedding of OI further which will increase as 3 days left for expiry.


Nifty future premium stands at mere 12 points. 

JUNE 2014 SERIES TURNOVER ( Cr )
INDEX FUTURES -2830.25
INDEX OPTIONS 7954.11
STOCK FUTURES 1756.72
STOCK OPTIONS -653.18



FII DERIVATIVES STATISTICS FOR 23-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
80519
3028.37
80977
3043.65
398885
14995.72
INDEX OPTIONS
442119
16520.97
432371
16237.51
1907538
71490.61
STOCK FUTURES
441908
16487.17
453568
16944.61
1586725
57193.08
STOCK OPTIONS
62495
2367.38
66312
2522.07
117908
4363.70

Highlights of the day

BankNifty rose +140 at a time.

ITC lost 6% to close at 314.95.

Stock ideas update

RENUKA closed 10% higher at 29.4 after breaking support temporarily in last few days.

BHEL closed 2% higher maintaining its bullish strength.

Trade update

Natural Gas trade running in profit.

Nifty forecast for 24 JUNE 2014

Nifty is likely to trade negative, and expected closing can be 7477.

Advice for traders

Sell Nifty only below 7480 for target of 7440, as selling area remains below 7480.


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