MTECHTIPS EQUITY MARKET NEWS

MTECHTIPS:-Market Snapshot & Options Analysis Nifty futures after witnessing a strong move in last week, started the Expiry week on a dull note. Nifty was hovering around 5700 levels, with Bulls & Bears fighting to get their grip on the market. Nifty future saw increase in OI by 6.44% with a fall in price by 0.45%. Market witnessed buying interest especially in Power, Realty, CG, CD, Auto and Banking sector stocks whereas selling pressure was seen in FMCG, Oil & Gas, PSU and Tech space. Nifty future closed at premium of 12 points as compared premium of 16 points in previous trading session. Nifty for the day, if it sustains 5700-5720 levels then only rally may be seen towards 5770-5800 levels whereas if it fails to hold 5670 levels on downside then profit booking may be seen towards 5620 levels.On the Options front, maximum Put OI is at 5500 followed by 5600 strike price whereas maximum Call OI is at 5800 followed by 5700 strike price. Till the time PCR OI is moving above 1.20 levels positive to range bound move is likely to continue whereas if it fails to hold 1.2 levels then some profit booking could not be ruled out in the market. The Put Call Ratio based on Open Interest of Nifty moved down from 1.25 to 1.23 levels. Historical Volatility of Nifty moved down from 20.36 to 19.82 levels and Implied Volatility also moved down from 19.85 to 18.50 levels. The market turnover significantly decreased by 30.65% in terms of number of contracts traded vis--vis previous trading day whereas in terms of rupees decreased by 29.87%. MTECHTIPS:-Technical Snapshot The Nifty opened the session flat and witnessed a dull session with choppy trades throughout the day. Equities snapped the trade near days lows as market participants preferred to take some profit off the table. It was a lackluster start to the F&O expiry week for the month of September where lack of buying interest combined with bleak global cues sent the markets down.The gauges traded choppy throughout the session as some sense of cautiousness was drawn after international rating agency Standard & Poors cut Indias GDP forecast to 5.5%. Earlier, Indian rating agency CRISIL too had slashed its forecast for the country's GDP growth to 5.5% from 6.5% earlier for this fiscal. HSBC has also cut growth forecast for fiscal 2012-2013. The Planning Commission recently lowered the annual average economic growth rate to 8.2% for the 12th Five Year Plan period. FMCG pack also pressurized the markets, losing by about one and half a percent on profit booking after strong gains over the past couple of months. Hindustan Unilever, ITC and Colgate Palmolive shed between 1-2.5 percent. Selling in software space too dampened the sentiments as rupee continued its gaining streak against the dollar, inching closer to 53 levels on dollar selling by exporters. The overall volumes stood at over Rs 1.95 lakh crore, which remained on the lower side as compared to that on Friday.