Market Stats: June 07

Hi,

Nifty took support at 5000 level, but Fiis chose to unwind their Longs position in Nifty. Last two sessions of buying 1920 was exited to the tune of 1665 crores. Now against the Fiis selling of 33 lacs of Nifty Open interest increased by 11.3 lacs, means Retailers were long and some Long FII holding is still there in Nifty.

Speaking of Nifty Intra, Open interest of current series increased by around 9.5% intra, but by the end of the day Net addition was 4% only, indicating that element of uncertainty is still there.


Review of Stock Calls:

Idea: Buying volumes are still holding the stock above 54 levels, so Longs are still open for the target of 58+ with 53.5 SL on closing basis.

Balrampur Chini: Stock has given down as mentioned earlier, and further shorts will be initiated on the break of 78. Today gave nice 2.5% intra moves.

Icici Bank: Short call in ICICI bank is still there, today it consolidated in 835-845 range, further crack will widen below 830 which is important support.

Earlier Long Calls

Torrent Power: Stock has given some nice moves today. Its been continuously recommended since 19th of May. Today it has given some good spike today and is successfully moving in the channel. Check out Chart.


BGR Energy: BGR Energy has been successfully maintained its upper end and is holding out well in the Jittery times. Some profit booking is not bad at this level. Stock is constantly adding O.I without much fuss. A breakout will be above 660 level and stock can be re picked at 640 and below if it gives a chance.

Hindalco: Though its in risky category but its staying at one of the major support of 140 below which it can give another crack. But as Nifty is holding it can be picked up from here.

Hope you liked it!!!