MTECHTIPS EQUITY MARKET NEWS

MTECHTIPS:-Market Snapshot & Options Analysis:

Nifty futures finally gives a small throwback after four days of continuous selling pressure and managed to close above 5300 psychological mark. On the day of Expiry Nifty intraday touched the 5250 zone and recovery was seen in the last hour of trading session with volume activity. Nifty for the day if it sustains above 5320 levels then intraday bounce back may be seen towards 5350-5370 levels. Whereas on downside if it fails to hold 5280 levels then selling pressure may be seen towards 5250-5220 levels. The rollover trend across the market was broadly in line with historic averages, analysts said. Rollover in NSE's Nifty futures was around 66 per cent, according to provisional data, which is similar to its three-month average rollover. Rollover across the board, at around 82 per cent, was also in line with the threemonth average.On the Options front, maximum Call OI is concentrated at 5600 followed by 5500 strike price whereas maximum Put OI is at 5200 strike price. The Put Call Ratio based on Open Interest of Nifty moved down from 1.13 to 0.92 levels. HV of Nifty slightly moved down from 14.68 to 14.32 levels and IVs also moved down from 16.01 to 15.98 levels. The market turnover increased by 53% in terms of number of contracts traded vis--vis previous trading day whereas in terms of rupees increased by 51.55%.

MTECHTIPS:-Technical Snapshot:
The Nifty August series futures and options expiry session turned out to be a bolt from the blue for the domestic frontline indices as they staged a surprise intraday come-back in the last leg of trade recapturing the psychological 5,300 (Nifty) and 17,500 (Sensex) levels. Moreover, the gauges gained a massive over five percent gains in the August F&O series as traders were keen to roll-over their position to fresh month F&O contract despite mounting worries over policy paralysis in the wake of the parliamentary logjam over controversial CAG report on coal blocks.The markets traded lower for the entire day as investors remained on the safer side ahead of first quarter GDP numbers scheduled to be announced on Aug 31, also the RBIs governor stating that high inflation and wrecked government finances leave little room for either the central bank or the government to throw policy lifeline, pressurized the market sentiments. The indices, although, witnessed an unexpected recovery in the final half an hour of trade and clocked gains of over half a percent led by recovery in Banking, Auto and software stocks. Realty space emerged as a strong pillar of strength for the bourses garnering over a gain of about two percent as short covering was seen in the counter after few days of continues fall.The markets rose on overall volumes of over Rs 3.30 lakh crore while the turnover for NSE F&O segment too remained on the higher side as compared to that on Wednesday at over Rs 2.56 lakh crore.