Weekly Wrap: – The market fell last week, with the barometer index, the Sensex, falling below the psychological 27,000 mark. The Sensex and the Nifty declined in all five trading sessions during the week. Trading was volatile as traders roll over positions in the futures & options (F&O) segment from the near month October 2015 series to November 2015 series.
The slide for Indian stocks was triggered by increased possibility of an interest-rate hike from the US Federal Reserve at its next policy meeting in December 2015. After a hawkish statement from the Fed, the Fed-funds futures market is now pricing in 43% probability of an increase in US benchmark interest rate in December 2015, compared with a 34% chance before the announcement. The Fed kept its benchmark interest rate unchanged near zero after the conclusion of a two-day monetary policy meeting on Wednesday, 28 October 2015. The next monetary policy review from the Fed is scheduled on 15-16 December 2015.
On The F&O Front : -Weekly data shows in the past trading sessions, we have seen strong Put writing in 8300/8200/8100 strikes & major Call build up at 8500/8400/8300 strike indicating a positive bias for market, in the near term.
On The F&O Front : -Weekly data shows in the past trading sessions, we have seen strong Call writing in 8300/8200/8100 strikes & major Put build up at 8100/8000/7900 strike indicating a negative bias for market, in the near term.
On Technical Front: – On Nifty weekly chart strong support is seen at 8050. If it breaks with high volume, more bearishness is expected.
Nifty Tips For Next Week:- Sell Nifty Future below 8025 Target 7975, 7925 Stop Loss 8125.