Market outlook for the month of September,2011

September 19, 2011   ·   0 Comments

Some cash base buying was visible by FII’s on Friday however the net activity in derivatives segment was muted despite high volumes as well as www.stockssavvy.comhigh volatility. 5000 put saw huge addition in open interest and surprisingly this has happened despite market coming down from higher levels and IV’s too has come down.

Highest Open Interest is at 4700 levels which shows a strong support for these levels. Even 4800 seems to have a decent support. After spanking the Nifty so hard in the last series, bear seems to take some rest as there are no considerable resistance which shows that expect Nifty to cover some ground before they can start putting short in the nifty again. Nifty seems to grind in the range of 4800-5100 for this series.

Lot of stocks is at very attractive valuations to start nibbling. The strategy going forward will be to keep buying in small quantities when the nifty comes to lower end of the range of 4700 sub levels.

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Rajesh Singla

Rajesh is the founder & CEO of Stockssavvy, Stocks analyst,financial advisor by choice,software engineer by fate,biker,gamer,cricket lover n enthusiastic person. He believes in doing things not just to get by but to get Ahead...

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