Nifty call: Sell on fall below 14,700-level with a fixed stop-loss
Nifty 50 April Futures (14,750)
The Sensex and the Nifty 50 commenced the session on a flat note and then started to trend upwards despite the weak Asian market. The Japanese index- Nikkei 225 has slumped 1.3 per cent to 29,696 levels. The Sensex and the Nifty 50 have climbed 0.3 per cent and 0.2 per cent, respectively. The market breadth of the Nifty 50 is biased towards advances. India VIX - volatility index has fallen 1.2 per cent to 20.9 levels. The Nifty mid- and small-cap indices have advanced 0.7 per cent and 1 per cent, respectively. Top sectoral gainers are the Nifty metal and pharma indices that have advanced 1.5 per cent and 1.2 per cent correspondingly. Selling interest is seen in the Nifty media.
NSE VIX surged 6.14% to 21.215 amid broader selloff.The Nifty April 2021 futures were at 14,706.60, a premium of 68.80 points compared with Nifty s spot closing of 14,637.80.
Turnover on the National Stock Exchange s futures & options (F&O) segment was Rs 29.68 lakh crore compared with Rs 73.41 lakh crore in the previous session.
In the cash market, the Nifty 50 index tumbled 229.55 points or 1.54% to 14,637.80.
The NSE s India VIX, a gauge of market s expectation of volatility over the near term, surged 6.14% to 21.215.
RIL, SBI and ICICI Bank were the top traded stock futures contracts in F&O segment for April expiry.
The April F&O contracts will expire on 29 April 2021.
Trade Setup: Crucial to see if Nifty stays above 14,786
SECTIONS
Share
Getty Images
Related
Following some hiccups in the morning trade, the Indian equities ended on a strong note on Thursday, which was the last trading day of the truncated, three-session week. The Nifty index opened on a positive note on the expected lines but pared its morning gains in the first hour and a half to trade very near its previous close. However, after that, the index reversed its trajectory. While staying in the upward rising channel for the rest of the day, the Nifty got stronger as the day progressed. While showing no intent to retrace from the day’s high point, the headline index ended the day with a net gain of 176.65 points (1.20 per cent).
New fiscal may see positive beginning for markets
April 01, 2021
But economic recovery and rising Covid cases worry investors
Markets are likely to open on a positive note on the first day of the new fiscal, despite uncertainty over economic recovery and rising number of Covid-19 cases continuing to weigh on investors’ minds. The SGX Nifty at 14,857 indicates that the Nifty may open with a gain of about 100 points. The Nifty April futures on Wednesday closed at 14,752 on the NSE. High corporate tax rate in the US by Biden administration will also impact market sentiment, both at the global and domestic levels.
NSE VIX tumbles below 20 mark business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.