Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Market Commentary

| More

FIIs refrained from shorting in today's correction: Angel Broking

Posted On: 2017-04-18 20:24:18

Views of Ms. Sneha Seth (Equity Derivative Analyst, Angel Broking):

"After a corrective move seen in last few trading sessions, Nifty opened with an upside gap regardless of Asian market showing some nervousness. During the initial hours, Nifty headed towards 9200 mark in the first half, which was mainly propelled by the strong move seen banking heavyweights like, ICICIBANK, HDFCBANK and other PSU banking counters. But surprisingly, this decent up move was then followed by a sharp correction to wipe off all early morning gains. Eventually, the Nifty ended the session with a cut of 37 points.

Similar to previous sessions, today's fall in the index was not supported by short formation as we witnessed a marginal drop in open interest (Nifty). It is also observed that majority of the heavy weight counters corrected mainly due to profit booking. As far as today's options data is concerned, 9100 and 9150 call options added decent positions. While, we hardly saw any relevant build-up in put options. However, good amount of unwinding was observed in 9000 put option. Now, highest open interest in April series has shifted from 9300 call to 9200 call and for put options, shifted to 9100 from 9000 strike. This activity on the options front indicates contraction in the price range i.e. 9100 to 9200. Thus, the above data remains clouded mainly for bears as there is no meaningful data to support the correction in the market. Thus, we suggest traders to avoid fresh shorting unless we see any damage on the data front."


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Domestic cues pulled down investors sentiments despite a flair run of bulls in global markets: Epic Research
PNB fiasco ruins trading environment, index continues to remain choppy: Angel Broking
PSU banks became the party spoiler: Angel Broking
Markets remains volatile, Quarterly results to be watch out for : Epic Research
Unchanged Rates by RBI fails to cheer up Realty
Post Monetary Policy Comments - Ms. Radhika Rao, India Economist, DBS Bank
Monetary Policy maintains status quo on rates: Angel Broking
Status quo from RBI, market remains under pressure: Angel Broking
Strong Rollovers for the rate sensitive index: Angel Broking
Breather continues as we head to an extended week: Angel Broking
Economy: Advance estimates underplay the cyclical recovery
The curious case of all Indian markets - Sanjeev Prasad, Co-head and Managing Director - Kotak Institutional Equities
GDP and expectations of Budget will keep investors on toes : Epic Research
Weekly Market Quote - Anita Gandhi - Whole Time Director - Arihant Capital Markets
A remarkable rally from 8000-10500 from Christmas to Christmas is a big reason for a grand party to investors
Benchmark remains sideways, midcap index shows negative divergence at record highs: Angel Broking
Stay light in index and keep focusing on individual stocks: Angel Broking
Volatility index back to normal: Angel Broking
Nifty nearing all time highs and Maruti at a kissing distance from 10000: Angel Broking
Time is ripe for a strong economic recovery: Angel Broking
Bears defended 10410 on a closing basis, volatility expected to rise further: Angel Broking
Market Quote for Today - Anita Gandhi, Whole Time Director at Arihant Capital Markets
Sanjeev Zarbade, Vice-president - PCG Research, Kotak Securities on today's markets
Weekly Market Quote : Anita Gandhi, Whole Time Director at Arihant Capital Markets
Weekly Market Quote by Teena Virmani, Vice-president - PCG Research at Kotak Securities
Market zoomed ahead of exit polls, 10296 - 10330 levels to watch out for: Angel Broking
Put writers losing confidence: Angel Broking
Roller coaster ride for market, continue to remain cautious: Angel Broking
CPI inflation surprises on the upside as IIP remains tepid: Angel Broking
Comments on CPI numbers - Ms. Radhika Rao, India Economist, DBS Bank
India Transact Services welcomes RBI reducing MDR charges on debit cards
State polls may further give much decisive direction to the market: Epic Research
Don't get carried away by the momentum, use rallies to exit longs: Angel Broking
FIIs index futures 'Long Short Ratio' plunged to 56%: Angel Broking
Credit policy maintains status quo on repo rates: Angel Broking
Nifty to enter four-digit territory soon: Angel Broking
RBI Monetary Policy - Views of Mr. Surendra Hiranandani, CMD, House of Hiranandani
Views on RBI Monetary Policy from Kunal Shah, CFA, Fund Manager - Debt, Kotak Mahindra Life Insurance Limited
Comment on RBI Monetary Policy - Upasna Bhardwaj, Sr. Economist, Kotak Mahindra Bank
Market Outlook - Arpit Jain, AVP at Arihant Capital Markets
Market will take its cues from RBI monetary policy : Epic Research
Comments on GDP numbers by Ms. Radhika Rao, India Economist, DBS Bank
Volatility on cards: Angel Broking
2Q GDP indicates growth rebounding in the Economy: Angel Broking
Bank Nifty looks tentative around 25900 -26000: Angel Broking
Writing in 10400-10500 call options restricting upside: Angel Broking
10405 becomes a sturdy wall: Angel Broking
Weekly Market Quote by Sanjeev Zarbade, Vice-president - PCG Research at Kotak Securities
Contracting range indicates higher volatility in the expiry week: Angel Broking
10250 a key support, focus on stock centric moves: Angel Broking


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018