Nifty futures opened positive with gap, traded in the narrow range of 40 points in the first half of trading but rally in last hour of trading dragged up it above 5200 level.
If the market is not conducive for investment, speculate was the formula of global investors in 2011. This is reflected in turnover data of exchanges globally, as culled from the World Federation of Exchanges (WEF).
On daily chart the stock is sustaining above its 20-DMA, it closed with bullish candle and increase in volume. Momentum oscillators are neutral to positive.
Catch Navneet Daga, Derivative Analyst, KR Choksey Securities talk extensively about the outlook for the Indian markets, derivative strategies and the road ahead for select frontline stocks.
The Nifty October futures failed to move above the resistance zone of 5,150-5,160 for the fourth time in the last seven trading sessions, and closed near the day’s low, as other timeframe traders turned sellers.