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MTECHTIPS EQUITY MARKET NEWS

MTECHTIPS:-Market Snapshot & Options Analysis


Nifty futures gap up opening following the positive global cues and momentum remained continue as market could not able to breach psychological 5400 mark on downside and finally closed near days high levels at around 5450. Nifty for the day, if it sustains above 5500 levels then rally may continue towards 5550 levels. On downside if it fails to hold 5450 then only selling pressure may get intensified towards 5400 levels. Market witnessed buying interest in FMCG, PSU, Oil & Gas, Capital Goods and IT sector stocks whereas selling pressure was seen only Health Care, Realty, Auto and Metal sector stocks.On the Options front, maximum Put OI is at 5300 followed by 5200 strike price indicating the short term support is shifted to 5300 levels. Maximum Call OI is at 5600 followed by 5500 strike price. The Put Call Ratio based on Open Interest of Nifty declined from 1.06 to 1.03 levels. Historical Volatility of Nifty slightly moved down from 14.75 to 14.30 levels but Implied Volatility moved up from 14.40 to 15.34 levels. The market turnover decreased by 30.36% in terms of number of contracts traded vis--vis previous trading day whereas in terms of rupees decreased by 29.86%.

MTECHTIPS:-Technical Snapshot
The Nifty gave a managed a positive close yesterday, as the index ended a volatile session flat with small gains. Sentiments also remained higher after state-owned oil marketing companies IOC, BPCL and BPCL edged higher on reports that Cabinet Committee on Political Affairs (CCPA) meeting later today for deciding on diesel, cooking gas and kerosene price hike.The sentiments also got dampened after HSBC cut its GDP growth forecasts for FY13 and FY14 citing the lack of reform traction, a more challenging global economic backdrop, and expectations of further delay in rate cuts by the Reserve Bank of India (RBI). HSBC expects India to grow 5.7% in FY13, down from its previous forecast of 6.2%. buying in PSU space helped the gauges to trade above their neutral line as shares of select PSU companies edged higher amid media reports that the Union Cabinet on Friday will consider approving plans for selling some of the Governments stake in five state-run companies.Media shares like, TV18 Broadcast, NDTV and BAG Films and Media edged higher on renewed buying ahead of the October 31, 2012 deadline for cable TV digitization in four metro cities of Delhi, Mumbai, Kolkata and Chennai. However, gains remain capped as shares of Pantaloon Retail and Shoppers Stop after Union Commerce 7 Industry Minister Anand Sharma announced that the proposal to allow foreign retailers such as Wal-Mart and Carrefour to set up shop in India was not on the CCEA's agenda.

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