Good Morning ...... & Wish you happy trading today......
We told u on last Monday bulls are coming back. They came back in style. We told our viewer to hold long in Reliance, Tata Steel & some other recommended stocks. We mentioned in the blog yesterday big fireworks are expected in market. Did you expect this? But we certainly did, that's why told you to cut your shorts. We told you this on Monday morning 9:00 a.m. where nifty was trading below 4980. Reliance & Tata Steel lead the rally for big move. Reliance Closed 1067 level Up by 4.70% (45 rupee terms).Tata Steel Closed 605 level Up by 4.60% (27 rupee terms).
Nifty future premium has increased from 3.5 points to 12 points (Bullish Sign) and 69,400 shares were added in open interest. Total open interest in the market was Rs124,651 crore and Rs4,200 crore were added in open interest. Nifty call option shed 64 lakh shares in open interest, whereas put option added 59 lakh shares in open interest. National Thermal Power Corporation (28%), Piramal Healthcare (25%), Nagarjuna Construction Company (21%), Polaris Software Labs (21%) and HDIL (18%) were the top open interest gainers in the market. Aban Offshore (-13%), ICSA (-8%), National Aluminum Company (-8%) and Power Trading Corporation (-8%) were the top open interest losers in the market.
Despite mixed cues from markets overseas, bulls seemed all set for the Christmas binge today. Nifty opened 30 points higher and on aggressive buying in metals, capital goods and realty stocks along with National Thermal Power Corporation, Suzlon Energy and Reliance Industries there was no looking back. After Gaining massive 100 points Nifty, finally ended the session with gain of 159 points at 5145. Volumes In Nifty future was significantly higher than yesterday’s volumes. Around 69,500 shares were added in open interest with an increase in the cost of carry, indicating long accumulation. On the option front, implied volatility has remained almost flat in spite of the big intra-day move, indicating positive bias for the market.
Bye.............
Stop Gambling & Start Investing.....
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