BUSINESS
'Profit booking seen at higher levels, Nifty likely to consolidate in the near term'
Crucial support for banking index is placed at 33200 and then 32000 zone. On the flipside, immediate resistance can be seen around 35800 and then 37700 zone.
BUSINESS
Nifty may move towards 15,800 soon; financials to outperform: Jay Purohit of Motilal Oswal
India VIX decreased by 14.55 percent to 19.91 levels in May series. Volatility needs to sustain below 20 zones to support the bullish market setup with higher market base.
BUSINESS
COVID impact on May series! Traders should refrain from carrying long positions
We witnessed a good amount of long rollovers seen in Dr. Lal Path Lab, Navin Fluorine, Pfizer, Cadila Healthcare, Bajaj Finserv, SRF, National Aluminium, Glenmark, Tata Steel, Deepak Nitrate, Hindalco, Aarti Inds, etc., says Purohit.
BUSINESS
Bulls enter New Year with rollover of long positions in January 2021 series
Rollover stood at 75.94 percent, which is in-line with its quarterly average of 75.59 percent. The overall data indicate that the longs are still in the system and some more steam left on the upside.
