Market Round Up
On back of huge positive gap up opening of banking counters, nifty opened above 10300 levels in yesterday session and thereafter continued to trade in narrow band. Short unwinding coupled with fresh buying was seen in banking, infra, cement and telecom sector that helped nifty to close around 10295 levels up by 88 points.
Nifty and banknifty fut. added long positions in yesterday’s trade whereas nifty IT fut saw short unwinding pressure. Nifty added 4.67 lakh shares in OI however Nov. fut premium reduced to 30 points from 47 points a day before
From lower levels, short covering was seen in psu banking, infra and telecom sector. Major unwinding was seen in stocks like bankbaroda, idbi, sbi, grasim, cummins and icicibank.
Fresh buying interest was seen in cement sector and stocks like indianb, jpassociate, pnb, castrol, ubl and albk.
Buying interest was seen in PSU banking, infra and telecom sector Major long positions were added in stocks like nbcc, pnb, jublfoods, bergepaint, jet and kscl.
Selected short accumulation was seen in stocks like kotakbank, indusindbk, l&tfh, lichsgfin, balkrisind and hdfcbank.
Click here to read the full report
After yesterday’s stupendous rally, today markets are expected to open on subdued note but will continue to see buying support at lower levels. However, being the last day of expiry high volatility is expected in second half of session and big swing movements can be seen in individual stocks as per rollover positions. Nifty will see immediate resistance around 10340 levels whereas 10240 will act as support
Way2Wealth today has established itself as one of India’s ‘Premier Investments Consultancy Firms’, known for making investing simpler, more understandable and profitable for the investors. They offer a wide range of products & services viz: Equity, Derivatives, Currency Futures, Commodities Trading, IPO's, Mutual Funds, Portfolio Management Services & Depository Services.
For more information please write in to firstname.lastname@example.org
Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.