[Attachment(s) from ekam ber included below]
Anagram's Weekly Watch: 20th Feb 10
MARKETS TO BE GUIDED BY BUDGET EXPECTATIONS
Going ahead for the coming week we continue to believe that domestic market factors like the Union Budget and Rail Budget will dominate local markets. The Economic survey also will be presented on the 25th Feb 2010. Added to this will be the F & O expiry week and hence markets are likely to remain highly volatile and choppy.
Hence for the time being, the technical outlook on the market remains cautious and will be influenced by the above factors.
One should hence keep a close watch on 4950 on the upside and a close below 4700 level would result into unwinding of positions.
On the F & O side of the markets, overall open interest increased by Rs. 6,678 Cr or 6% to Rs. 1, 21,632 Cr on week on week basis. Nifty February puts shed 4% from OI to 3.57 Cr shares, while calls added 1% in OI to 3.68 Cr shares. Nifty OI PCR, after remaining stagnant to most part of the week, fell to 1.05 level on Friday. This fall in PCR on the back of call writing at 4900 level indicates market players expectation that nifty is likely to face strong resistance in the region of 4900-4950 level for the coming days. On the other hand on the lower side Nifty is likely to find support in the region of 4700-4750 level.
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Attachment(s) from ekam ber
1 of 1 File(s)
Please use your discretion before acting on the ideas expressed in the group.
Happy Trading,
United we grow!!!
Happy Trading,
United we grow!!!
.
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