MTECHTIPS EQUITY MARKET NEWS

MTECHTIPS:-Market Snapshot & Options Analysis Nifty futures witnessed positive to range bound move for the entire trading session. Nifty is seeing huge supply around 5770-5800 band which is the immediate hurdle area for the market.If it sustains 5800 levels this time then a fresh upside move may be seen towards 5900-5950 levels on the back of huge call unwinding in 5800 strike price. Nifty future saw increase in OI by 3.6% with a rise in price by 0.25%. Market witnessed buying interest especially in Oil & Gas, PSU, HC, Metal, CG and FMCG sector stocks whereas selling pressure was seen in Auto, CD, IT and Tech space. Nifty future closed at premium of 37 points as compared premium of 35 points in previous trading session. Nifty for the day, if it sustains 5750 levels then rally may be seen towards 5780-5800 levels whereas if it fails to hold 5700 levels on downside then only selling pressure may be seen towards 5650 levels.On the Options front, maximum Put OI is concentrated at 5400 followed by 5300 strike price whereas maximum Call OI is at 5800 strike price. The Put Call Ratio based on Open Interest of Nifty stood at 1.06 levels. Historical Volatility of Nifty moved down from 17.9 to 17.4 levels but Implied Volatility moved up from 15.88 to 15.97 levels. The market turnover increased by 28.84% in terms of number of contracts traded vis--vis previous trading day whereas in terms of rupees increased by 29.87%. MTECHTIPS:-Technical Snapshot
The Nifty opened the session flat and managed to hold on to the gains in a choppy session. The global markets were also trading flat with some negative bias, but our markets shrugged off negative sentiment and close d the day with gains.The day remained range bound lacking any major supportive cues for the market, traders were cautiously waiting for the report from a highlevel committee, headed by HDFC Chairman Deepak Parekh, scheduled to be submitted to Prime Minister Manmohan Singh on funding of infrastructure sector, the requirement of which has been estimated at close to $1 trillion during the 12th Plan period. Cement companies continued their rally on hopes for more infrastructurerelated initiatives from the government and also on hopes for increased construction activity after the end of the monsoon season.There was cautiousness in the market after Reserve Bank of Indias deputy governor Subir Gokarn said that inflation remains stubbornly high and is a barrier to economic growth. The somberness also strengthened after ADB cut its growth estimates for India and said that growth in India is expected to hit 5.6% and 6.7% in 2012 and 2013, weaker than previous forecasts of 7% and 7.5%. Not only India, the Manila-based bank has cut most of its 2012 and 2013 growth estimates for developing Asia and said that euro zone's unresolved sovereign debt crisis and US fiscal cliff remain the biggest risks to the growth outlook of the developing nations.