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Showing posts from December, 2019
It was just a profit booking towards the end of the year. SGX Nifty is down by 50 points. Yesterday Bank Nifty fell but Autos supported the markets. Bank Nifty was down, Nifty was up. Auto stocks are higher expecting good sales figures in  December . Tomorrow  we will know the data. Huge discounts should drive the sales higher. Reliance is struggling. Key private sector banks, HDFC Bank, Kotak Bank, ICICI Bank all down slightly. FIIs were net sellers in Cash market but the volume is very low. Janary premiums are too low to take positions. Metal stocks may see some selling pressure  today . Nifty future may trade between 12260 and 12360.
PSU Banks fell on  Thursday  but shot up on  Friday . That supported Bank Nifty. Both FIIs and DIIs were net buyers in small quantity. Nifty 12000PE has highest open interest among Puts. Nifty 12500CE has highest open interest among Calls. Broader markets also did well. Most Global markets will not be functioning for next 2 days. So we can expect some consolidation in our markets. Nifty future may trade between 12280 and 12380, a narrow range  today .