Nifty call: Go long above 14,750 with stop-loss at 14,670
Nifty 50 May Futures (14,730)
Taking positive cues from the Asian markets, the Indian benchmark equity indices opened higher than yesterday’s close. Both the Nifty 50 and the Sensex went up post opening and are now trading with a gain of about 0.3 per cent each. Among the major indices in Asia, the ASX 200 has gained nearly 0.6 per cent and the Hang Seng is up by 0.8 per cent so far.
The market breadth of the Nifty 50 index is showing a positive bias as the advance-decline ratio stands at 36-14 and the volatility has gone down, which is synonymous with an uptrend. India VIX – the volatility index – has dropped by nearly 6 per cent to 22.36.