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The 5200 level, which acted as a strong resistance before, may now act as strong positional support for the market.
We are witnessing a significant amount of put writing and some buying too taking place in 5200 strike. There is continuous build-up in Nifty futures and we have not yet seen massive short-covering.
There is an interesting development happening in the market as far as ownership of stocks is concerned. From statistics it is clear that FIIs are buying in the cash market and DIIs are selling.
Also, many non-institution players are having negative view on the market and are carrying forward their short positions of much lower and marked to market losses of these positions are getting funded by them by selling their holdings in equity portfolio.
Hence, we can say that ownership of stocks is shifting from weaker hands to stronger hands and whenever this happens, the market continues to be strong.
Of late, we have witnessed heightened activity in the mid-cap segment and traders have been flocking there to make quick bucks. We may see some unwinding pressure over there where counters have shown a huge jump from lower levels.
From Nifty's perspective, we don't see any long-unwinding pressure as there are still more of weaker short positions which are there in the system.
The Sensex closed down 0.48%, or 84.86 points, at 17,622.45, with 22 of its components falling. The benchmark had risen 5% over the previous five sessions. RIL rose as much as 2.4% after Goldman upgraded the stock to 'buy' from 'neutral', citing a potential rise in margins on increased refining and recovering oil demand. It ended up 1.4% at 844.55.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
The 5200 level, which acted as a strong resistance before, may now act as strong positional support for the market.
We are witnessing a significant amount of put writing and some buying too taking place in 5200 strike. There is continuous build-up in Nifty futures and we have not yet seen massive short-covering.
There is an interesting development happening in the market as far as ownership of stocks is concerned. From statistics it is clear that FIIs are buying in the cash market and DIIs are selling.
Also, many non-institution players are having negative view on the market and are carrying forward their short positions of much lower and marked to market losses of these positions are getting funded by them by selling their holdings in equity portfolio.
Hence, we can say that ownership of stocks is shifting from weaker hands to stronger hands and whenever this happens, the market continues to be strong.
Of late, we have witnessed heightened activity in the mid-cap segment and traders have been flocking there to make quick bucks. We may see some unwinding pressure over there where counters have shown a huge jump from lower levels.
From Nifty's perspective, we don't see any long-unwinding pressure as there are still more of weaker short positions which are there in the system.
The Sensex closed down 0.48%, or 84.86 points, at 17,622.45, with 22 of its components falling. The benchmark had risen 5% over the previous five sessions. RIL rose as much as 2.4% after Goldman upgraded the stock to 'buy' from 'neutral', citing a potential rise in margins on increased refining and recovering oil demand. It ended up 1.4% at 844.55.
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