FIIs improved their long-short ratio for index futures from 14 percent to 28.26 percent by buying over 1.2 lakh index futures contracts. This shift came amid robust short covering on June 3.
Nifty and Bank Nifty anticipate volatility amid election outcomes, with Nifty forming a bearish trend. Sudeep Shah of SBI Securities advises cautious trading, emphasizing risk management and hedging strategies. Certain sectors like Automobiles and Pharma may shine, while IT stocks might underperform.
Shah also suggests that market participants stay away from over-leveraged trades, and feels that the automobile, capital goods, and pharma sectors are likely to outperform in the next couple of trading sessions
Indian market expected to consolidate following weak global cues. Nifty futures closed down at 22731 levels. Options data indicates a trading range of 22500 to 23000. Experts recommend buying Jubilant FoodWorks, Torrent Pharma, Hindalco, Dr. Reddy s Labs, Asian Paints, and Exide Industries with specified targets and stop losses.