Nifty Weekly Report, Targets Resistance And Support For Next Week, Derivative Updates

Nifty ended positive on second week February 2014, last week trend was flat. Nifty closed at 6048.35 up 47.25 points or 0.79%. Volatility reduce in market India VIX index slipped 6.40%. In sectoral indices Bank Nifty gained 0.67%, Auto, FMCG, IT, Realty, Infra, Energy and Metal positive while PSU Bank and Pharma indices trended weak.

WPI inflation data give support to market, the WPI inflation for month of January 2014 has eased to 5.05% versus 6.2% in December 2013, the inflation data raised hopes that RBI will not hike rates at its next month.

Foreign Institutional Investment Increased, In Global peers Asian Market mixed US and Europe market give strong cues.

In derivative Market Nifty Future February contract traded at 6061.75 up 0.94% tiuched high of 6064.90 and low of 5992.35. Nifty Call Option raised 29.74% and Put Option down 42.85%.

Nifty Directional

Above 6029.78 Resistance 6074, 6101.58, 6146.76.

Below 6029.78 Support 6003.16, 5957.98, 5931.36.

Posted in: Nifty Future Tips,Nifty Tips