SENSEX 17077.18 +81.41
NIFTY 5158.30
+30.95
USD/INR 0050.02 +00.02
|
UPDATEDTIME 09.28 PM 25 JANUARY 2012
|
The National Stock Exchange's Nifty ended a volatility marred
session on the last day of January F&O series above important resistance
levels on the back of bullish sentiments following easing of policy stance by
the Reseve Bank of India.
The foreign institutional investors returned back in Indian equities after a capitulation in last two months pushing Nifty over 10 per cent up in January. Broader markets continued to outperform the benchmarks as investors bought stocks which were beaten down badly.
The market is being driven on sentiment. The sentiment right now is good because we have seen that RBI has virtually announced the peak of the interest rate cycle. They have also given a roadmap for easing down the line, so that's what is driving the main sentiment that there would be cheaper money to be had down the line.
In terms of the quarterly earnings, expectations from the quarter were not so great. The results have been in line or I would say even marginally better than what was expected, so that's again a positive for the market.
Can this market run further? It is very difficult call to take because market cannot run forever on sentiment. There has to be something tangible. Now we need to wait for the tangibles to come in, that's where the macro issues need to be adjusted and the earliest that can be done is in the budget announcements, which will come in March.
The Nifty closed at 5158.30, up 30.95 points or 0.60 per cent. The broader index touched a high of 5174.15 and low of 5130.25 intraday.
The Bombay Stock Exchange's Sensex ended at 17077.18, up 81.41 points or 0.48 per cent. The 30-share index touched a high of 17130.24 and low of 17016.69 in trade today.
"Nifty future has seen decent upmove of more than 10 per cent in January series by making higher tops - higher bottoms for the past four consecutive weeks. Nifty may find hurdle at around 5200 strike where fresh call writing was seen in Feb series. If Nifty future sustains above 5200 levels, then further upmove towards 5300 levels can be expected.
On downside, if it sustains below 5100 levels then profit booking may take it down to 5000-4950. Those who are holding the long positions and don't want to exit in the hope of further up move can hedge positions by making bear put spread of 5200-5000 strike. (By buying 5200 strike and selling 5000 strike).
Nifty future has seen rollover of around 70% as per provisional data with better roll cost. Bank Nifty has major psychological hurdle at around 10000 levels, if it crosses this mark then we may see further movement in the market otherwise this rally may fizzle out in next few sessions.
The foreign institutional investors returned back in Indian equities after a capitulation in last two months pushing Nifty over 10 per cent up in January. Broader markets continued to outperform the benchmarks as investors bought stocks which were beaten down badly.
The market is being driven on sentiment. The sentiment right now is good because we have seen that RBI has virtually announced the peak of the interest rate cycle. They have also given a roadmap for easing down the line, so that's what is driving the main sentiment that there would be cheaper money to be had down the line.
In terms of the quarterly earnings, expectations from the quarter were not so great. The results have been in line or I would say even marginally better than what was expected, so that's again a positive for the market.
Can this market run further? It is very difficult call to take because market cannot run forever on sentiment. There has to be something tangible. Now we need to wait for the tangibles to come in, that's where the macro issues need to be adjusted and the earliest that can be done is in the budget announcements, which will come in March.
The Nifty closed at 5158.30, up 30.95 points or 0.60 per cent. The broader index touched a high of 5174.15 and low of 5130.25 intraday.
The Bombay Stock Exchange's Sensex ended at 17077.18, up 81.41 points or 0.48 per cent. The 30-share index touched a high of 17130.24 and low of 17016.69 in trade today.
"Nifty future has seen decent upmove of more than 10 per cent in January series by making higher tops - higher bottoms for the past four consecutive weeks. Nifty may find hurdle at around 5200 strike where fresh call writing was seen in Feb series. If Nifty future sustains above 5200 levels, then further upmove towards 5300 levels can be expected.
On downside, if it sustains below 5100 levels then profit booking may take it down to 5000-4950. Those who are holding the long positions and don't want to exit in the hope of further up move can hedge positions by making bear put spread of 5200-5000 strike. (By buying 5200 strike and selling 5000 strike).
Nifty future has seen rollover of around 70% as per provisional data with better roll cost. Bank Nifty has major psychological hurdle at around 10000 levels, if it crosses this mark then we may see further movement in the market otherwise this rally may fizzle out in next few sessions.
BSE Midcap Index was up 1.25 per cent and
BSE Smallcap Index moved 1.11 per cent higher.
Amongst the sectoral indices, BSE Metal Index was up 1.79 per cent, BSE Auto Index moved 1.15 per cent higher and BSE IT Index gained 1.06 per cent. BSE Capital Goods Index was down 0.33 per cent.
Reliance Infrastructure (6.89%), Sesa Goa (5.78%), BPCL (4.97%), Tata Motors (3.83%) and SAIL (3.10%) were the major Nifty gainers.
Hero MotoCorp (-2.48%), Jindal Steel (-2.02%), Tata Power (-2%), Larsen & Toubro (-1.95%) and HCL Technologies (-1.88%) were the major losers.
Market breadth was positive on the NSE with 984 gainers against 502 losers.
Amongst the sectoral indices, BSE Metal Index was up 1.79 per cent, BSE Auto Index moved 1.15 per cent higher and BSE IT Index gained 1.06 per cent. BSE Capital Goods Index was down 0.33 per cent.
Reliance Infrastructure (6.89%), Sesa Goa (5.78%), BPCL (4.97%), Tata Motors (3.83%) and SAIL (3.10%) were the major Nifty gainers.
Hero MotoCorp (-2.48%), Jindal Steel (-2.02%), Tata Power (-2%), Larsen & Toubro (-1.95%) and HCL Technologies (-1.88%) were the major losers.
Market breadth was positive on the NSE with 984 gainers against 502 losers.
Regards
RAKESH MAKIN
+91,
9041667797(DIRECT), 9915684997
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.in
No comments:
Post a Comment