One need not worry as the outlook for Sensex and Nifty is positive for the coming days as presently consolidation is being seen in the market. Keep an eye on the levels of 5150-5175-5200 which are going to offer stiff resistance to the Nifty. Now all eyes will be monitoring the Advance Tax payment figures by top corporate and Monthly Inflation data for February 2010.
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Post budget market has risen by 6% and thus consolidation is a good thing for the market before it embarks on another mega journey as long term trend is always bullish and that is the reason time helps one to make a multi millionaire as the same was the case with me. Analysis of derivative segment suggests that Rs 2,104 crore has been added in open interest and Nifty call option added 25.70 lakh shares in open interest, whereas put option added 4.90 lakh shares in open interest. Further analysis of put and option data cost of carry suggests that we can see a sharp movement in either of the directions and thus straddle is the best strategy. Only negative factor in present scenario was market breadth which was negative with advances at 437 against declines of 824 on the NSE.
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Trading in given calls in future and Option segment yielded gains of Rs 26430.
Chinese Feb inflation higher than expected - c. bank chief
Ifo's Sinn warns EMF could endanger euro.
RBI Reserve Bank deupty governor KC Chakrabarty has stated that Indian investment in International Monetary Fund by purchasing USD 10 billion worth of its notes is a good decision as the country has surplus foreign exchange reserves. Three cheers for Reserve bank of India for saving us from a mega financial meltdown.
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