The Nifty regained 7,800 on yesterday and ended just below its key resistance level of 7,850. Experts said that if the index breaches this mark and trades decisively above it for a few days, it could go all the way up to 7,980-8000. The good news for investors is that the index seems to be found in support near 7,800.
Derivative traders bought put options of around 8.40 lakh shares at this level, the biggest among all strike prices & an indication that the level may act as a psychological support. If broken, then the index can slide to 7,700-7,710 levels. In the meantime, the INR(rupee) strengthened marginally to a near one-month high. It ended at 66.35 to the dollar.
Derivative traders bought put options of around 8.40 lakh shares at this level, the biggest among all strike prices & an indication that the level may act as a psychological support. If broken, then the index can slide to 7,700-7,710 levels. In the meantime, the INR(rupee) strengthened marginally to a near one-month high. It ended at 66.35 to the dollar.
Read More : free stock tips
Benchmark indices continued to be rangebound in morning trade but broader markets outperformed. Investors awaited Q4 and full year GDP due later today.capitalstars
ReplyDelete