Dear Viewers
Good Morning ...... & Wish you happy trading today......
We hold positive view for market Tatasteel, Reliance & other shares. You might see positive momentum not only today & tomorrow but also on 29’th December before December expiry. We expect good fireworks on 29’th December.
Nifty future has turned into a premium of 3.50 points from a discount of 4 points and 4.50 lakh shares were reduced in open interest. Total open interest in the market was Rs120,451 crore and Rs1,555 crore were added in open interest. Nifty call option shed 4.85 lakh shares in open interest, whereas put option added 13.85 lakh shares in open interest. Yesterday Steel Authority Of India (41%),Zee Entertainments (37%), Piramal Healthcare (35%),Lupin Laboratories (28%)and Aban Offshore (14%)were the top open interest gainers in the market. Hero Honda (-13%),GAIL India (-12%),Infosys Technologies (-8%)and Bharti Airtel (-7%)were the top open interest losers in the market.
As updated yesterday Pullback on cards. Different from almost flat opening for the past couple of days, the bellwether today started on a positive momentum of 32 points up. Through out the day, the market remained very volatile in a narrow range of 4970-4985 with lack of clarity on either direction. However, metals especially SAIL acted a trend decider in the last hour of the session which finally helped Nifty to post a handsome gain of 33 points at 4986.Volumes in Nifty future was marginally lower than the previous trading volumes. Around 4.50 lakh shares were reduced in open interest with increase in the cost of carry, indicating short covering in the market. On the option front, implied volatility has decreased significantly by around 250-450 basis points, pointing towards positive bias and that the buying may continue to emerge at lower levels.
Bye.............
Stop Gambling & Start Investing.....
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