Anand Rathi - Daily Strategist, Technical Note, Anagram, Emkay Morning Notes, Bharati Shipyard

The NIFTY futures saw a rise in OI to the tune 3.73% with prices opened down due to global pressure but market took support around 3900 levels and closed near day's high indicating long positions being built up in the market and the discount which widened during the day around 20 plus points finally narrowed and came down to 11 points again indicating shorts covered their positions as market recovered and longs built up fresh positions. indicating long positions being built up in the market but at higher levels we saw selling pressure emerging in the market due to profit booking by longs and fresh short positions being built up in the nifty futures The discount in NIFTY spot and future was around 8 points which was almost same on last day indicating that both bulls and bears were aggressive. The FIIs sold index futures to the tune of 942 crs and buyers in index options to the tune of 209 crs indicating hedged positions built by them. The PCR has come up from 1.12 to 1.13 indicates that some buying support may emerge in the market. The volatility has come up from 24.65 to 26.50 levels indicating volatile trading sessions ahead.

Among the Big guns, ONGC saw 4.22% rise in OI with prices coming down 1.07% indicating that though counter closed in red it saw buying emerging at lower levels which may support the counter whereas RELIANCE saw 2.94% rise in OI with prices rising indicating fresh long positions being built up in the counter and the counter managed to close at higher levels indicating further strength in the counter.

In the TECH front, INOFSYSTCH & WIPRO saw rise in OI with prices coming down indicating short built up in the counter indicating further weakness in these counters. TCS saw drop in OI to the tune of 0.94 with prices flat to negative indicating liquidation of positions by both bulls and bears .SATYAMCOMP saw 7.36% rise in OI with prices coming down 2.58% indicating fresh short positions being built up in the counter. Its results are coming on Thursday which may help in setting the trend in the counter.

In the BANKING counters, SBIN, ICICIBANK saw RISE in OI with rise in price indicating long positions built up in the counter and short covering seen in the counter indicating further strength in the counter HDFCBANK saw marginal rise in OI with prices marginally down which suggests the counter may remain in a range before taking any sharp movement.

In the metal pack TATASTEEL saw drop in OI to the tune of 1.45% with price down indicating short positions being built up in the counter indicating weakness in the counter ,SAIL saw drop in OI with rise in price indicating short covering seen in the counter which may further support the counter .HINDALCO saw drop in OI with prices flat indicating liquidation by both bulls and bears .STER saw rise in OI with fall in price indicating shorts being built up in the counter indicating some weakness may be seen in the counter.

Considering the overall scenario and the markets behavior, market showing volatility as selling pressure emerging at higher levels and profit booking seen in the market. Unless market goes below 3900 levels (nifty futures) we may see fresh buying emerging in the market and shorts covering their positions. Traders are advised not to go aggressively short on the market unless important support level of 3900 is breached and any position taken should be with strict stop losses to be adhered too.

Download here



Nifty and Sensex have exhibited a candlestick with a small real body and a longer lower shadow. Technically, one may use the level of 3920 (Nifty) and 13475 (Sensex) as the stop loss level. Nifty faces resistance at 4050 and Sensex at 13800. BSE Smallcap and BSE Midcap exhibited a narrow candlestick. CNX IT has lost ground. In the Punter's zone we have a BUY in Mphasis Bfl & SELL in A.C.C. and NTPC. In the Technical call section, we have a BUY in Reliance Capital , Seimens and Tata Motors.

Download here


Anagram - Daily call

Emkay Morning Notes + Bharati Shipyard