Market may remain volatile ahead of F&O expiry
Macroeconomic data, the progress of monsoon rains, trend in global markets, investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar and crude oil price movement will dictate trend on the bourses. The market may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month August 2015 series to September 2015 series. The near month August 2015 derivatives contracts are set to expire on Thursday, 27 August 2015.
BSE Index (27366.07) :- From top of 28417.59, the index is moving down. It shows overbought to neutral position on daily and weekly basis, while towards neutral on monthly basis. On upward movement, beyond 27443 it may go up to 27564, 27564 with resisting level at 27700. On downward movement, below 27300 it may go down to 27131, 27000, 26875 and 26730. Selling spree might be witnessed on upward movement.
Nifty Future (8306.35) :- It is moving dowards from top of 8553. It shows overbought to neutral position on daily and weekly basis, while towards neutral on monthly basis. On upward movement, beyond 8325 it may go up to 8359, 8390, with resisting level at 8420. On downward movement, below 8250 it may go down to 8222, 8205, 8160, 8115, 8070.
Macroeconomic data, the progress of monsoon rains, trend in global markets, investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar and crude oil price movement will dictate trend on the bourses. The market may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month August 2015 series to September 2015 series. The near month August 2015 derivatives contracts are set to expire on Thursday, 27 August 2015.
BSE Index (27366.07) :- From top of 28417.59, the index is moving down. It shows overbought to neutral position on daily and weekly basis, while towards neutral on monthly basis. On upward movement, beyond 27443 it may go up to 27564, 27564 with resisting level at 27700. On downward movement, below 27300 it may go down to 27131, 27000, 26875 and 26730. Selling spree might be witnessed on upward movement.
Nifty Future (8306.35) :- It is moving dowards from top of 8553. It shows overbought to neutral position on daily and weekly basis, while towards neutral on monthly basis. On upward movement, beyond 8325 it may go up to 8359, 8390, with resisting level at 8420. On downward movement, below 8250 it may go down to 8222, 8205, 8160, 8115, 8070.
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