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Vineet Bhatnagar, MD of MF Global feels that the Nifty stocks may see buying in the last hour of trade today. He estimates that the Nifty could move up by 30-35 points in the last thirty minutes. He feels that HUL, Tata Motors could move up in the last 30 minutes of trade. Bhatnagar informed that there have been low rollovers in single stock futures versus previous three-months average. He thinks that the directional short positions are low and Nifty may close above 4800.
Excerpts from CNBC-TV18's exclusive interview with Vineet Bhatnagar:
Q: Looks like we are going to start April really light, one of the lightest we have seen in a long while, where do we go from there?
A; That is true, we have seen good amount of reduction in open interest, especially for the single stock futures in February as well and now going into April we are seeing a similar trend as far as single stock futures are concerned.
As far as the Open Interest (OI) for the Nifty is concerned, data shows that there has not been any considerably reduction vis-à-vis last few months. So one is able to look at perhaps justifiable reduction in the OI for single stock future but the Nifty looks alright.
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- May 09, 16:00
- Last Price
- Change
- Volume
- BSE
- 16737.07
-343.58 -2.01%- N.A.
- NSE
- 4982.60
- -99.10 -1.95%
- N.A.
