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Tuesday, 24 June 2014

Nifty analysis for 24 June 2014 and Nifty view forecast for 25 June 2014 - 24 June 2014

Note From July 2014 series, advice for traders information will be sent to paid clients by email, and won't be discussed publicly. One can check its effectiveness by seeing previous daily reports.

Nifty analysis for 24 JUNE 2014

Sometimes you feel proud by being getting fooled by skilled magicians. Same was the case today. It has happened many times earlier too. If you are a regular reader of our blogs, then many times when we expected markets to move sharply either way, it first gives false signals and then just another day it goes in our predicted direction.

In our analysis report for 20th June 2014 http://blog.tracknifty.com/2014/06/nifty-analysis-for-20-june-2014-and-nifty-view-forecast-for-22-june-2014.html we mentioned in our forecast section that markets should close 70 points plus. But sucking operators on 23rd June 2014 shuffled things upside down. And when you are dealing with paid clients, then you have to live under pressure every time, and some times closing a position is good with some minor loss.

In our expiry forecast http://nifty-expiry.tracknifty.com/2014/06/nifty-expiry-june-2014-series-forecast.html we mentioned about likely expiry target on 18th itself. And this has happened many times in the past that what we foresee in advance, things finally settles down on predicted lines after giving some false data.

Anyway, now coming down to today's analysis. In our yesterday's report we mentioned about selling area below 7480, and not to sell above it. Today Nifty opened at 7515 and keeps going higher and higher with buying support coming from all sectors. PSU Banks and Realty sector contributed most by 2.41% and 3.05% respectively while Media and Pharma closed marginally red.

LT, YESBANK, DLF, UNITECH, SBIN all moved up with slow buildup.

BankNifty closed 233 points higher while IT index closed 22 points plus.

FII : DII turnover remained average.

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 24-June-2014 3817.743533.13284.61
DII 24-June-2014 1550.521766.69-216.17

And in derivative segment FIIs bought index futures worth 623 Cr and sold stock futures worth 279 Cr. Nifty July 2014 futures saw massive 89.55% increase in OI indicating big long positions building up.



JUNE 2014 SERIES TURNOVER ( Cr )
INDEX FUTURES -2206.68
INDEX OPTIONS 8284.93
STOCK FUTURES 1477.19
STOCK OPTIONS -812.15

FII DERIVATIVES STATISTICS FOR 24-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
213021
8105.34
196734
7481.77
423900
16152.56
INDEX OPTIONS
461192
17441.77
452737
17110.95
1923843
72952.26
STOCK FUTURES
411714
15190.86
419284
15470.40
1627467
59924.01
STOCK OPTIONS
65220
2503.63
69545
2662.60
117969
4433.46

Highlight of the day

IT index was once 0.40% down, then closed 22 points higher.
Nifty was once more than 90 points higher, then gave away 50 points in less than an hour, and finally closed 86 points higher. 

Stock ideas update

RENUKA inches up making high of 31 and closing at 29.75. Next up-leg will start over 32.
BHEL closes 2% higher back to back and crosses 250 mark. Charts are looking good and more upside coming in it.

Nifty forecast for 25 JUNE 2014

Nifty is likely to move further up.

Advice for traders

Take long positions for target of 7630. Accumulation zone exists upto 7550.

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