ALERT :- TODAY IS MAY SERIES EXPIRY AND EXPIRY ALWAYS ON SPOT, BUT NIFTY FUTURE IS TRADING WITH -20.85 DISCOUNT AND THIS GAP WILL FILL BY TODAY. BANK NIFTY NIFTY FUTURE MAY EXPIRY IS ALSO TRADING WITH -66.55 POINTS DISCOUNT AND THIS GAP WILL FILL BY TODAY. THE THING IS THAT FIIs ARE STILL TAKING SHORT POSITIONS AND TOOK MORE SHORT POSITIONS YESTERDAY ALSO RS. -254.57 CR, MEANS FIIs ARE STILL NOT INTERESTED TO COVER THEIR SHORT POSITIONS AND BECAUSE OF HUGE POSITIONS BY FIIs THE DISCOUNT IN NIFTY FUTURE AND BANK NIFTY FUTURE IS MAINTAIN.
THIS IS THE TECHNICAL FUNDAMENTAL RULE THAT FUTURE CONTRACT EXPIRY CONTRACTS ALWAYS EXPIRE ON SPOT BASIS. BUT THERE IS HUGE DISCOUNT GAP BETWEEN SPOT & FUTURE AND THIS GAP HAS TO BE FILL TODAY. SO IT IS SURE THAT THIS GAP WILL BE FILL EITHER BY SELLING IN CASH SEGMENT WHICH FORCE THE SPOT TO COME ON DOWNSIDE OR SHORT COVERING IN FUTURE. NOTE :- TODAY IS GDP DATA AND IT IS EXPECTED THAT GDP WILL COME @ 6%, IF GDP COME BELOW 6% THEN MARKET WILL NOT DIGEST THIS AND REACT ACCORDINGLY.
INTERNATIONAL IMPACT :-
WE SAW HOW WAS PANIC SITUATION IN AMERICAN MARKETS AND EUROPEAN MARKETS YESTERDAY ALL MARKETS WERE HUGE DOWN UP TO -2% AND THE REASON WAS INCREASING THE PROBABILITY TO EXIT THE GREECE FROM EURO ZONE.
WE ALSO SAW THE BIGGEST DAY'S UPSIDE IN US BOND YESTERDAY. IT WAS +2% WHICH SHOWS THAT REAL PANIC CONDITION IN THE MARKET.
NOTE :- KEEP EYE ON USD/INR BECAUSE FROM LAST TWO DAYS IT IS HOLDING ABOVE @ 56 AND TODAY IS THIRD DAY IF CLOSES ABOVE @ 56 THEN WE CAN SEE NEW HIGH IN COMING SESSION OR CAN TOUCH ABOVE @ 57 LEVELS ALSO.
THIS IS THE TECHNICAL FUNDAMENTAL RULE THAT FUTURE CONTRACT EXPIRY CONTRACTS ALWAYS EXPIRE ON SPOT BASIS. BUT THERE IS HUGE DISCOUNT GAP BETWEEN SPOT & FUTURE AND THIS GAP HAS TO BE FILL TODAY. SO IT IS SURE THAT THIS GAP WILL BE FILL EITHER BY SELLING IN CASH SEGMENT WHICH FORCE THE SPOT TO COME ON DOWNSIDE OR SHORT COVERING IN FUTURE. NOTE :- TODAY IS GDP DATA AND IT IS EXPECTED THAT GDP WILL COME @ 6%, IF GDP COME BELOW 6% THEN MARKET WILL NOT DIGEST THIS AND REACT ACCORDINGLY.
INTERNATIONAL IMPACT :-
WE SAW HOW WAS PANIC SITUATION IN AMERICAN MARKETS AND EUROPEAN MARKETS YESTERDAY ALL MARKETS WERE HUGE DOWN UP TO -2% AND THE REASON WAS INCREASING THE PROBABILITY TO EXIT THE GREECE FROM EURO ZONE.
WE ALSO SAW THE BIGGEST DAY'S UPSIDE IN US BOND YESTERDAY. IT WAS +2% WHICH SHOWS THAT REAL PANIC CONDITION IN THE MARKET.
NOTE :- KEEP EYE ON USD/INR BECAUSE FROM LAST TWO DAYS IT IS HOLDING ABOVE @ 56 AND TODAY IS THIRD DAY IF CLOSES ABOVE @ 56 THEN WE CAN SEE NEW HIGH IN COMING SESSION OR CAN TOUCH ABOVE @ 57 LEVELS ALSO.
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