Markets opened lower but witnessed a gradual upside movement during the day which led the indices to close in green. On the sectoral Realty, Oil & Gas and Healthcare ended with decent gains whereas FMCG and It ended on the losing side. The advance decline ratio was in favour of declining counters (Advances = 1197/ Declines=1278).
Future Outlook: At present there is no weakness on the daily chart. Hence, in coming trading session if indices trade and close above 6200 spot levels then it is likely to test 6250 – 6300 levels. On the downside, 6114 - 6060 may act as support for the day.
The undertone is positive in the market and there is high probability that markets may test the all time high and even extent their gains further in couple of days.
Open Interest of derivative segment increased to Rs 113096.76 Cr vs Rs 110384.91 Cr.
FIIs net buyer in index futures to the amount of Rs 62.20 Cr and in index options net sellers to the amount of Rs 509.32 Cr.
Put-Call Ratio at 0.98 vs 0.90. (Bullish).
Buy ONGC in range of 332-337 With 330 s/l keep 345-353 trgts
Buy UCOBANK in decline upto 76 keep 74 s/l & look for 86 trgts
Buy PFC arnd 202-203 with 208 trgt keep 198.60 s/l
Hold long ur 6100 call with 90 s/l
Future Outlook: At present there is no weakness on the daily chart. Hence, in coming trading session if indices trade and close above 6200 spot levels then it is likely to test 6250 – 6300 levels. On the downside, 6114 - 6060 may act as support for the day.
The undertone is positive in the market and there is high probability that markets may test the all time high and even extent their gains further in couple of days.
Open Interest of derivative segment increased to Rs 113096.76 Cr vs Rs 110384.91 Cr.
FIIs net buyer in index futures to the amount of Rs 62.20 Cr and in index options net sellers to the amount of Rs 509.32 Cr.
Put-Call Ratio at 0.98 vs 0.90. (Bullish).
In intraday treading on 17th May. Wait & Watch resistance 6188/6202 and support 6170 IF FACE resistance at high then ONLY use sell at high strategy OR sell below 6170 with S.L 6188…
- Resistance for up move at 6188/6202
- Supports at 6115-6105-6060
Buy ONGC in range of 332-337 With 330 s/l keep 345-353 trgts
Buy UCOBANK in decline upto 76 keep 74 s/l & look for 86 trgts
Buy PFC arnd 202-203 with 208 trgt keep 198.60 s/l
Hold long ur 6100 call with 90 s/l
