MTECHTIPS EQUITY MARKET NEWS

MTECHTIPS:-Market Snapshot:&Options Analysis:

Nifty futures gap up and witnessed selling pressure in the early hours of trades, but took strong support around 5180 zone and bounced back towards 5230 levels. Nifty future saw decrease in OI by 0.57% with a rise in price by 0.48%. Market witnessed buying interest in Metal, Capital Goods, Realty, Auto, power and IT space whereas selling pressure was seen only in Oil & Gas, HC and Consumer Durables sector stocks. Nifty future closed at premium of 7 points as compare to previous days premium of 10 points. Now if Nifty future sustains above 5220-5230 zone, then a positive move may be seen towards 5270-5300 levels. Whereas on downside if it sustains below 5200-5180 then selling pressure may get intensified towards 5150-5120 levels.On the Options front, maximum Call OI is shifted at 5300 strike followed by 5400 strike whereas maximum Put OI is at 5000 followed by 5100 strike price. The Put Call Ratio based on Open Interest of Nifty moved up from 1.06 to 1.09 levels. HV of Nifty moved down from 19.02 to 18.58 levels and IVs also moved down from 15.97 to 15.81 levels. The market turnover increased by 6.73% in terms of number of contracts traded vis--vis previous trading day whereas in terms of rupees increased by 5.61%

MTECHTIPS:-Technical Snapshot:
The Nifty futures gave a flat opening, but soon dipped in red and the index after witnessing consolidation and downtrend in last few sessions, domestic bourses added some strength garnering gain of about half a percent on Wednesday. Though, benchmarks traded cautiously near their last closing for most part of the days trade but, pull back in last leg of trade helped local indices to regain their crucial 5,200 levels. The recovery was mostly followed by trend reversal in Power segment as the sector is expecting some supportive decisions from the Cabinet meeting scheduled for tomorrow. Moreover, the Centre hinted that it is considering a bailout for state electricity distributors that are running in losses and are unable to pay for new supplies as they sell power below cost and also lose to pilferage. Moreover, shares of power equipment manufacturer surged on report that Cabinet is expected to take up the Power ministrys proposal to impose 21 percent duty on imported power equipments. Rally in domestic benchmarks also got supported by positive European cues. European counters were showcasing firm trade despite the downbeat assessment of the US economy by Federal Reserve Chairman Ben Bernanke with no signals of an imminent move toward further quantitative easing. Though, Asian markets made a mixed closing of the day.The overall volumes stood at over Rs 1.73 lakh crore, while the turnover for NSE F&O segment remained on the higher side as compared to that on Tuesday at over Rs 1.14 lakh crore.