MTECHTIPS EQUITY MARKET NEWS

MTECHTIPS:-Market Snapshot:&Options Analysis:

Nifty futures closed on a flattish note with rally continued towards the major resistance zone around 5400 area in the first half of trading session and then profit booking was seen towards 5350 levels in the later half. Market witnessed buying interest especially in Auto, PSU, Metal, IT, FMCG and Oil & Gas space whereas selling pressure was seen in Realty, Tech, CG, Banking and CD sector stocks. Nifty future closed at premium of 17 points as compare to previous day's premium of 11 points. Nifty to continue its positive momentum has to cross the immediate hurdle around 5400 psychological zone. Nifty may witness further profit booking towards 5300 levels till the time it is sustaining below 5380-5400 mark On the Options front, maximum Call OI is at 5500 strike followed by 5400 strike whereas maximum Put OI is at 5000 followed by 5100 strike price. The Put Call Ratio based on Open Interest of Nifty moved up from 1.15 to 1.17 levels. HV of Nifty slightly moved down from 18.86 to 18.3 levels and IVs also moved down from 15.43 to 15.29 levels. The market turnover increased by 4.18% in terms of number of contracts traded vis--vis previous trading day whereas in terms of rupees increased by 4.73%.

MTECHTIPS:-Technical Snapshot:
The Nifty futures exhibited strong run for most part of the days trade on hope that the government will go forward with the reform measures as Vice Presidential elections are over. Moreover, comments from Union Finance Minister P Chidambaram early this week that he intends to shortly unveil a path of fiscal consolidation, aided gains on the domestic bourses as the barometer indices hit their highest level in more than 20 weeks. But, the markets witnessed brutal turnaround in last leg of trade which came in the wake of a sharp reversal in the European markets. Sentiments remained subdued after rating agency CRISIL cut Indias Gross Domestic Product (GDP) growth forecast to 5.5 percent for financial year 2012-13 from 6.5 percent earlier. In addition, Citigroup and CLSA also slashed their outlook for growth to 5.4 percent and 5.5 percent respectively in the fiscal year ending March.Furthermore, a weak monsoon, high interest rates, increasing twin deficits, stubborn inflation and policy impasse at the Centre too dampened the sentiments. The regular disruption of the Parliament on the first day of monsoon session also created doubts over the governments ability to push through key economic bills.The markets fell on weak overall volumes of over Rs 1.69 lakh crore while the turnover for NSE F&O segment too remained on the lower side as compared to that on Tuesday at over Rs 1.16 lakh crore.