MTECHTIPS:-Market Snapshot:
Nifty futures opened negative as taking cues from weak Global indices and fell down towards 5000 levels. Nifty future saw decrease in open interest by 1.25% with a rise in price by 0.55%.Market witnessed buying interest in Capital Goods, Power, Metal, Consumer Durables, Auto, Banking, Realty and PSU sector stocks while selling pressure was seen in FMCG, Oil & Gas, IT and Health Care sector stocks. Nifty future took strong support at 5000 levels (where maximum Put OI is intact in May series) and shown a smart recovery of around 140 points, towards 5140 levels. Bank Nifty future also recovered well from lower levels and closed at
around 9900 levels. Now if Nifty future sustains above 5120 levels then further up move may be seen towards 5150-5180 levels. Whereas on downside if it fails to hold 5080 levels, then again profit booking may hit the market towards 5030-5000 levels.
Nifty futures opened negative as taking cues from weak Global indices and fell down towards 5000 levels. Nifty future saw decrease in open interest by 1.25% with a rise in price by 0.55%.Market witnessed buying interest in Capital Goods, Power, Metal, Consumer Durables, Auto, Banking, Realty and PSU sector stocks while selling pressure was seen in FMCG, Oil & Gas, IT and Health Care sector stocks. Nifty future took strong support at 5000 levels (where maximum Put OI is intact in May series) and shown a smart recovery of around 140 points, towards 5140 levels. Bank Nifty future also recovered well from lower levels and closed at
around 9900 levels. Now if Nifty future sustains above 5120 levels then further up move may be seen towards 5150-5180 levels. Whereas on downside if it fails to hold 5080 levels, then again profit booking may hit the market towards 5030-5000 levels.
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