Nifty Made a new high around 5050 which is a strong resistance zone or atleast small profit booking area. As expiry near markets will be volatile due to rollover to next series. Reliance not participating in market rally is a bit concern. Foreign investors still on buy side. While local institutions remain booking their profit.
INSTITUTIONAL ACTIVITY :: FII ( +853cr) ::: DII (-539 cr)
Nifty View ::
Nifty as mentioned in yesterday's column breaking 4989 gave us new high around 5050.Nifty fut closed in 10.55 premium. On option side Put Call open interest @ 1.77. 4600 PE and 5000 CE added open Interest suggest we will expire below 5000. But technically I am for a expiry above 5000. We witnessed final hour sell off yesterday with volumes which suggest people remain cautious or unwilling to participate @ higher levels. So much awaited correction in coming sessions? only expiry can tell us. Until that trade light with strict stoploss.
Stock picks ::
Asahi India
BIL
Concor
Gammon Ind
Manali petro
Nitin Fire
Happy Trading !!!
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