Nifty will grind to a new high this year: An analysis
The markets are in a good grove and sentiment is bullish. Analysts believe Nifty will grind to a new high this year.
January 04, 2011 / 08:55 IST
By Anuj Singhal, Head-Markets Research at CNBC-TV18
Market outlookThe markets are in a good grove and sentiment is bullish. Analysts believe Nifty will grind to a new high this year. FIIs were buyers of Rs 341 crore while DIIs were sellers of Rs 124 crore in cash markets on first session of 2011, as per provisional data.Midcaps may outperform and breadth may stay robust. Inflation and interest rate scenario remains a risk. Commodity rally may keep markets warm in short term.F&O highlightsFIIs were net buyers of Rs 1323 crore in Nifty options on Monday. Nifty 6200 Put added 11 lakh shares in Open Interest while Nifty 6300 Call added 11 lakh shares in Open Interest. Nifty 6100 Call shed 5 lakh shares in Open Interest.Long positions were seen in Sesa Goa, Sterlite, Tata Steel, Hexaware, Ashok Leyland, Punj Lloyd and NHPC. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
