The index, which fell nearly a quarter in 2011, rose 2.7% this week. So a truncated one and a half hour session, but a weekend market session nevertheless.
Yesterday, oil & gas, FMCG and banking shares did well, while capital goods, realty, power and automobile shares were among the laggards.
In an interview to CNBC-TV18, Sudarshan Sukhani, s2analytics.com sees the market in a trading range still. He says that the simplest trade and the best trades will come when we come out of it. Below is an edited transcript. Watch the accompanying video for more. Q: What did you make of yesterdays close for the Nifty? How would you trade it from beyond this point?
A: The Nifty itself remains in a trading range. Yesterday, the index actually moved down and broke the lower level of 4,700, then moved up and almost broke 4,800. So the swings were both ways. To that extent we are in a trading range. The simplest trade and the best trades will come when we come out of it. Q: For now would you take any kind of trading positions on either extremity of the trading range?
A: No. The trade is to buy both - calls and puts which means that we are positioned to take advantage of whichever side the breakout or breakdown happens. Then get out of the losing leg which means that we don
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