CNX NIFTY witnessed typical range bound trading session. It oscillated between +30 to +30 levels and settled with marginal gains. The Derivative market action suggesting some rebound to take place and expiry is expected around 8850 levels.
NIFTY : 0
Up by 0.1% on February 24, 2015
Today's Positive Indicaton
FII added long positions in NIFTY CALL option (9000 MAR & 8850 FEB)
Today's Negative Indication
The expectation of budget would fuel the volatility in the near term trading
List of Evidences from 24 Feb 2015
KOTAKBANK : Gave bullish breakout on 24 FEB, Expected to continue its rally for few more days.
BHARTIARTL: Placed slightly above its crucial support zone of 330 – 340, some buying witnessed around 340 levels.
ONGC: Sketched Lower Top Lower Bottom, Volume indicates divergences, consolidation expected around 300 – 315 Levels
RELIANCE: Witnessed Selling pressure in last three days, Might consolidate for Few days and it may test 800 in Next Few weeks.
BHEL: Accumulation Pattern witnessed, Expected to test 290-295 levels
NIFTY MAR 9000 CALL: FII bought significant position in Next series call option is the sign of bullish trend
NIFTY FEB 8850 CALL: The Accumulation by FII is indicating the near term chances of crossing 8850 levels.