- US markets closed at another record high
- Asian markets are positive
- SGX Nifty is higher by about 65 points
- Today HDFC is set to declare results, HDFC Twins will be in focus
- FIIs are 51% long and 49% short in Index Futures
- They are 59% long and 41% short in Stock Futures
- As long as FIIs are not heavily long, there is room for upside movement
- Reliance is still struggling
- Nifty made significant gains when all Banks and Reliance did not do well
- Nifty has been trading between 14200 and 15000 for the last few weeks
- Nifty future may trade between 14720 and 14920.
Nifty/Banknifty 7 May 21
Nifty : 14724 A Gap up 2day
Rest: 14950 & 15000
Sup: 14650 & 14610
PCR: 1.49
Banknifty : 32827
Rest: 33300 & 33780
Sup: 32600 & 32500
PCR: 1.19