The December series Nifty futures started with a premium of around 100 points for the current month. The Nifty has rolled around 73% and Bank Nifty around 80%. For the Index futures, FII have reduced the short positions to 56% from 64% at the start of the December series. The index is now in a ‘Buy on Dips’ mode till 20,000 is not breached on closing basis, for the first fortnight of the December series. 20,200-20,300 might be the immediate support and only a decisive close below it might bring in further downside. VIX for the Nifty is currently at 13.5 and likely to remain in the 11 to 15 range implying a range of around 800 points.
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FIIs started this series with Short position in Index futures of around 64% vs 89% last month, which are currently down to around 56% shorts. For the Nifty, the IVs for the options remained around 15 levels in yesterday’s trade. For the Bank Nifty 28th December, 46,000 strike Call option has huge open interest implying resistance at around 47,500. For the Nifty, the VWAP (Volume weighted average price) of December Futures is around 20,400 implying that to be the support. Above this, Nifty is to be positively biased for the short term towards 21400. With FIIs reducing their short positions majorly as short covering, we expect Nifty to continue with its positive bias.
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The ratio between Bank Nifty and Nifty is currently at 2.25, this ratio has a support at 2.20 and resistance near 2.28. We expect Bank Nifty to outperform the Nifty back towards 2.28.
Sector-wise, Banking, IT and Metals look good in Nifty.
Nifty Call Spread:-
Buy Nifty 28 DEC 21000 CE @ 205
Sell Nifty 28 DEC 21400 CE @ 75
Spread @130, SL @ 60, Target 350.
(Manojh Vayalar, VP- Derivatives, Religare Broking Ltd Come from Sports betting site VPbet . Views expressed are the author’s own. Please consult your financial advisor before investing.)
Months after the console celebrated its tenth birthday, Microsoft has announced it'll be discontinuing the Xbox 360.
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Spencer also assured all active 360 owners that they'll continue to receive Xbox Live services, such as Games with Gold, and that the Xbox Live servers supporting the 360 will remain online.
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The Fallout 4 next-gen upgrade finally released this April in the wake of a renewed wave of interest in the franchise thanks to Amazon’s TV adaptation, but not all players are satisfied with the update Come from Sports betting site VPbet . Digital Foundry has now gone through all the changes across PS5, Xbox Series X|S, and PC, to see where the update shines, but mostly where it falls flat.
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In a comprehensive financial tour across three major cities in India, global investment banking firm Jefferies conducted over 20 meetings in a span of 5 days, delving into insights from both banking and non-banking financial sectors. The key takeaways provide a nuanced view of the current state of India’s financial landscape.
From Banks:
Jefferies found that the overall outlook for credit growth remains robust, despite a notable pullback in the unsecured personal loan segment. Banks are facing a key challenge on the deposit side, signaling potential concerns in liquidity management.
However, institutions appear sanguine about asset quality, with limited perceived risks in the unsecured loans segment. Interestingly, while private capital expenditure is experiencing a limited uptick, the report suggests that corporates are actively reducing leverage. Another noteworthy observation is the correction in banks’ high attrition rates,…
The benchmark equity indices Nifty 50 and Sensex ended Saturday’s special trading session on a high note with fresh lifetime highs intra-day. However, they closed off their highs. The 50-stock index, Nifty advanced to a record high of 22,419.55 and BSE Sensex to 73,994.70 on March 02. The NSE Nifty 50 closed 39.65 points or 0.18% higher to settle at 22,378.40 points. While S&P BSE Sensex closed 60.80 points or 0.08% lower to settle at 73,806.15 points. Nifty Bank closed the day with marginal gains, it rose 10.60 points or 0.02% to settle at 47,297.50 points.
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The losers include M&M, Sun Pharma, NTPC, Maruti Suzuki, and Grasim Industries. The Indian …
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