SGX Nifty indicates nearly 200 points gap-up opening and today is also weekly options expiry. F&O data indicate mix signal, Nifty PCR @ 1.23.
VIX @ 19.59: Massive cool-off could be seen today.
Approach on Indices: Indices opening at fresh recent high & today is also weekly option expiry, will open further upside on back of short covering. Nifty @ 17800 & Banknifty @ 39000 levels to watch today.
Market View: We are surprised by this move and we believe many market participants would be surprise by this move. Theme to focus remain Mid-cap & Small-cap. We would continue our strategy to reduce exposure & book profit.
Stocks in focus: TATAMOTORS, IRCTC & BHARATFORG. IT & Metal stocks would be in-focus today.
SGX Nifty @ 17741 up 194.50 points at 7:45 AM