Wednesday, September 28, 2016

SENSEX ENDS HIGHER AHEAD OF F&O EXPIRY

After having corrected in the past three consecutive trading sessions, the Indian stock market closed on a higher note on Wednesday ahead of expiry of September futures & options. The stock market oscillated between gains and losses. After a flat opening, markets staged recovery in noon trades and closed higher. A strong rebound with Positive opening of European markets and a firm rupee partially supported the upmove in domestic equities. And amid recovery in global crude oil prices further bolstered trading sentiment during mid-session. Meanwhile, investors are keenly awaiting for the expiry of the September F&O series and roll over positions to the October series due tomorrow.
                      Technically, Indian Stock Market is still in negative zone. Now market is near strong support of 8688 levels. Closing below those levels would force market to see a sharp downfall. Traders should still hold short positions as of now. This downfall is a correction to the positive rally and would not last long but traders should hold the short positions until the reversal is seen. If levels of  8688 is breached for Nifty then Next target would be 8620-8580-8500 for Nifty and. For now, trade is to go short at every positive rally.
TOP GAINERS:   Hindalco, Idea Cellular, Tata Steel, Zee, Bank of Baroda
TOP LOSERS:  Reliance , Tech Mahindra, Coal India, HUL, SUNPHARMA ,TCS 

3 comments:

  1. Motherson Sumi - RBI raises foreign Investment limit in Motherson Sumi from 24 percent to 30 percent - sentimentally positive for the stock.
    Capitalstars

    ReplyDelete
  2. Where do u see market closing this expiry..

    ReplyDelete