February series began with lower open interest base: Angel Broking
Posted On:
Derivatives Wrap-up by Mrs. Sneha Seth (Derivatives Analyst, Angel Broking): Market had a fabulous run in the previous three consecutive series. However, the January series concluded with some roller coaster move by shedding more than a percent. It was certainly a historical one as we saw Nifty hitting fresh record highs of 14753.55 in the latter half. Unfortunately markets failed to keep up the same momentum as the index corrected from the life time highs and eventually concluded the inaugural series of the calendar year 2021 tad below the psychological mark of 14000. The banking index too finally surpassed the previous life time high of 23613.10 seen a year back. Due to sell-off seen towards the end of the series, the BankNifty ended 3% lower to previous series close.
The Fear index surged 4%, stay light: Angel Broking
Posted On:
Derivatives Wrap-up by Mrs. Sneha Seth (Derivatives Analyst, Angel Broking): We began the truncated week on an optimistic note, but these early morning gains were short lived as we saw sharp profit booking in the initial half an hour to drag index towards 14350. Post some consolidation in the midst, index resumed its down fall to plunge towards 14200. Eventually, index concluded the day with a cut of almost a percent to Friday s close.
It is the third consecutive sessions wherein we witnessed decent profit booking in Nifty futures; in case of banking index, good amount of shorts were formed. During the series, we observed profit booking by stronger hands and in the week gone by they also added few bearish bets in index futures segment. As a result, their long short ratio plunged below 60%. In index options front, we saw fresh writing in 14300-14500 call strikes. On the other side, except for some build-up in 14200 pu
Read more about Street signs: Rising VIX sets alarm, new aspirants for MF licence & more on Business Standard. The fear guage has risen 22 per cent this month and is currently at 24, a level approached only a few times in the past six months
Stay cautious, say analysts as Sensex, Nifty suffer biggest fall in 4 weeks
Premium
(REUTERS)
Share Via
Read Full Story
Indian stock markets fell the most in nearly four weeks as investors booked profits after indexes hitting multiple record highs this week. The Nifty and the S&P BSE Sensex each fell over 1% to close at 14,433.70 and 49,034.67, respectively. This was the first major correction since December 21st, when markets fell over 3%.
However, Nifty rose for a third straight week, while the Sensex gained for an eleventh straight week, each gaining about 0.5%.
TRENDING STORIESSee All
2 min read
Premium
2 min read
1 min read