“Our valuations are undoubtedly above average but our profit-to-GDP ratio is also more than above average. It is not that there is a big bubble but the road definitely is downward sloping,” Shah says. Excerpts:
On the derivative front, the January series future has surged 2.79 percent. The cumulative OI of current, next and far series surged by nearly 7 percent, indicating a long build-up
Bank Nifty possesses resilient support near the previous spot accumulation range of 46750 – 46650. A stability over 47000 could trigger a positive rally on the expiry day.
Reliance Industries continues to be the biggest Indian company by market capitalisation. Over the last 20 years, RIL has been the only stock to have stayed in the Top-10 league on the Nifty 50