Analysts expect the strong momentum for the Nifty on the back of strong rollovers, positive FII sentiment and upbeat global and domestic cues to take it to newer all-time highs in the December F&O series.
The double whammy of shorts rollover and FIIs’ falling long positions amidst a slew of key events including the Reserve Bank of India's monetary policy meeting, the MSCI rejig and July-September earnings paints the picture of a volatile October for Nifty.
The August series was marked by the liquidation of long positions by FIIs and a rise in rollovers in short bets to the September series. Analysts, however, say while the bears gained the upper hand as far as the Nifty50 is concerned, bulls were the winners in the broader market
Net longs of FIIs stood at 56,000 contracts, up from 19,000 at the beginning of the previous series. Experts believe the momentum can take the markets higher to 19,300 for the Nifty 50 with continued sectoral rotations.
Hemant Thukral of Aditya Birla Money feels that the Nifty has the potential to test lower levels of 5,800-5,750, so one could sell it at 5,910.
In an interview to CNBC-TV18, Hemant Thukral of Aditya Birla Money shared his views on the market and recommended strategies for various stocks.
In an interview with CNBC-TV18, Karun Mutha of HSBC Invest Direct, spoke about his reading of the market and his outlook.
In an interview with CNBC-TV18, Hemant Thukral of Aditya Birla Money, spoke about his reading of the market and his outlook.
In an interview with CNBC-TV18, Hemant Thukral of Aditya Birla Money, spoke about his reading of the market and his outlook.
In an interview to CNBC-TV18 Hemant Thukral of Aditya Birla Money shared his reading and outlook on the Futures and Options market. In the medium-term, as well as for the expiry week, 5750-5800 is a very crucial support area, says Thukral.
Aditya Agarwal, senior derivative analyst, Way2Wealth Securities Pvt Ltd, says that this time we are expecting a very flat expiry.
With a slightly bullish view for today, Hemant Thukral of Aditya Birla Money says the April series may expire around 5260-5280.