F&O expiry 6 Oct- Nifty support at 16500, avoid aggressive bets, focus on stock-specific action; RBI MPC eyed
时间:2024-06-26 17:37:33 阅读(143)
By Sameet Chavan
Our market has seen an optimistic start with a decent gap up, wherein the benchmark index NSE Nifty 50 tested the 17000 mark at the opening bell on Thursday. But soon after, a sell-off got triggered that gradually dragged the index below Wednesday’s low, signifying the strength of the bears at higher grounds. With the intense day of sell-off, Nifty continued the selling streak for the seventh day in a row and settled a tad above the 16800 level with another cut of 0.24 percent.
Also read: GST collection in Sep likely to touch Rs 1.5 lakh crore on improvement in biz activities; what do experts say?
FIIs were net sellers in the cash market segment to the tune of Rs 3,599 crore. Simultaneously, in Index futures, they sold worth Rs 1,007 crore with significant fall in open interest, due to the expiry. Recently, we saw a blend of short covering and long unwinding in both the key indices. Rollover in Nifty and Bank Nifty stood at 78% and 82%, which is slightly lower as compared to previous series. Stronger hands continued to curb liquidity and preferred rolling over bearish bets in the index futures segment. On the options front, 16500 put and 17000 call strikes are attracting traders’ attention.
Also read: Rupee likely to remain volatile ahead of RBI monetary policy meet outcome, USDINR may trade in this range
Going forward, the RBI monetary policy is lined up today; hence, traders should keep a close eye on the event. Apart from this, global development should also not be overlooked, and therefore, one needs to avoid aggressive bets and focus on stock-specific actions.
(Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One. Views expressed are the author’s own.)
上一篇:Market to focus on macro data, global trends- Analysts
下一篇:Windfall tax slashed on crude, fuels; check duty cuts on diesel, petrol, ATF exports
猜你喜欢
- Mamaearth IPO on hold, parent co blames ‘weak market’ for postponing multi-billion USD valuation public issue
- Wall St surges as CPI data calms jitters over aggressive rate hikes
- M&M, Raymond among 60 stocks to hit 52-week high on BSE, 34 scrips at fresh lows on F&O expiry
- Demat account additions in April lowest in nine months
- Dr Reddy’s Labs, ITC, PNB, Sun Pharma among 119 stocks that hit 52-week highs; 11 touch 52-week lows on 20 July
- Market HIGHLIGHTS- Sensex ends 652 pts down, Nifty at 17758 on weak global cues; Reliance, ICICI Bank fall
- Vivo’s X100 series is here to challenge Samsung’s smartphone zoom camera dominance
- Wall Street Week Ahead- Stock rally fanned by hopes of Fed ‘past peak hawkishness’
- DGCA elevating aviation safety standards, takes 542 enforcement actions in 2023