SENSEX AT HIGH
Tracking volatile cues from across the globe and ahead of F&O expiry next week, Indian stocks are likely to fluctuate on Friday.
Nifty trading 7 points lower also indicates bearish sentiments. Also, on the F&O front, players have bought 3300 put indicating uncertain direction in the market. However, there are reasons for optimism which may help Nifty end in green. Firstly, Nifty spot closed above its 200-DMA which is a positive sign. Foreign institutional investors turned buyers in index futures and spot segment which is likely to lend good support to Nifty in case of any fall. Nifty futures once again ended in premium on the back of short covering Thursday. There was significant covering of short calls at 3400-3500, suggesting Nifty may move towards 3500 level.
( Economic Times dt.24.4.09)