Bank nifty futures tips : The Indian markets continued to remain below the pressure throughout whole week in line with its global peers. The Nifty has seen few bounce back after touching the crucial support levels of 7550-7600. We could see this bounce further continue and the index could move higher near the 7950 levels in the short term but the FII outflows are still continuing and any upside could be limited for the markets. Another important indicator of stability in the markets is the India VIX index which is currently trading near the 24.6 per cent levels.Although, the VIX index has moved lower in the last couple of days the range still remains on the higher side and it would therefore be prudent to trade with caution during such high volatility.
On the worldwide front the 2 day US Fed meet will end on the 17th of Sept 2015 and this will be an crucial event for the markets as the Fed would give a further signaling on its interest rate decision which would be a major impact for the global markets. On the other hand, options side traders can look to do a bull call spread by buying the LICHSGFIN 420 CE & selling the 440 CE in a net spread of Rs 9.
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