As I've been continuously pointing about FIIs flow, Nifty seems to be waiting for FIIs money to move up. Yesterday FIIs sold 19 lacs of Nifty and Nifty combined O.I increased to grossly 11 lacs. For the current series I'm assuming that all the open interest is built on short side till some major shakeup happens on and above 5250-70 levels. Clearly market is short on Index and Earnings are keeping stocks in buzz.
One gap is yet to be filled hopefully in this week as 5200 is holding so far with impressive 73 lacs shares of O.I in 5200 put. But without any inflow, probability of getting past 5300 is quite low. On upside there is 63 lacs shares builtup of O.I which at 5300 call should surpass 5200 put if FIIs continue to trade in the same trend.
Stock Picks.
Some individual stock which are looking good are:
IndiaBull Real Estate: Stats and chart already mentioned, has successfully bounced backed from the shake off, and is expected to go past 180 in coming days.
Apollo Tyres: Looking good at current levels and spike from here is expected as yesterday it has shown some support and positive RSI divergence.
Bombay Dyeing: A nice buy above 580, target for the coming days is 600+.
HDIL: Yes I'm very optimistic for this stock, once it forms a good base above 264 or any Wide range bar above these levels can push this stocks to 280-300 levels.
ESCORTS: Same view as earlier, hold this stocks unless it breaks down 174/170 on closing basis.
Hope you liked it.
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