MTECHTIPS EQUITY MARKET NEWS

MTECHTIPS :-Market Snapshot & Options Analysis Nifty futures started the session with a weak tone, but accumulation was seen at lower levels and in the later half of trading session sharp recovery was seen towards 5400 psychological mark. Nifty for the day, if it sustains above 5400 levels then rally may continue towards 5450 levels. On downside if it fails to hold 5350 then only selling pressure may get intensified towards 5300 levels. Nifty future saw increase in OI by around 5.46% with rise in price by 0.63%. Market witnessed buying interest especially in Realty, IT, Power, Tech, Banking, CD, HC and FMCG sector stocks whereas selling pressure was seen only Metal and Auto space.Nifty future closed at premium of 15 points as compared premium of 8 points in previous trading session.On the Options front,maximum Call OI is at 5600 followed by 5500 strike price. Unwinding in 5400 call was seen, suggesting short covering rally may be continued towards higher levels if market holds 5400 mark. The Put Call Ratio based on Open Interest of Nifty moved up from 0.96 to 1.01 levels. HV of Nifty moved down from 15.04 to 14.76 levels whereas IVs moved up from 14.43 14.89 levels. The market turnover increased by 29.87% in terms of number of contracts traded vis--vis previous trading day whereas in terms of rupees increased by 29.77%. MTECHTIPS:-Technical Snapshot The Nifty after reeling under pressure in the first half, staged a spirited comeback in late trade snapping the session near intraday high buoyed by hopes of fuel price hike. Much of the hard work, which was done by bourses in the second half of the session, mainly led the outperformance of Indian equity markets against global peers. The gauges took a U-turn in late trade supported by three public sector oil marketing companies BPCL, HPCL and IOC, which edged higher by 1-3 percent after Oil Minister Jaipal Reddy stated that fuel price hike is unavoidable in the short term.The market sentiment also got some strength after Pharma stocks like, Cadila, Dr Reddys Laboratories and Cipla all edged higher on report that Health Ministry is working on new rules to ensure the availability of medicines at affordable prices in the local market and may put tougher conditions for foreign pharmaceutical companies looking to acquire Indian drugs businesses. metal stocks remained the biggest underperformers as the Goa mining ban adversely affected companies like Sesa Goa, which is countrys biggest iron ore producer in the private sector. However, aviation stocks like Kingfisher, Jet Air India and Spicejet all edged higher after Minister for Civil Aviation Ajit Singh urged Oil Ministry on declaring aviation turbine fuel (ATF) as a notified product.The markets rose on