After eight weeks, call option buyers heaved a sigh of relief last week. Notably, there was short covering in some good but controversy-hit financial sector stocks.
The September quarter earnings season is now behind us and weighty analyses of corporate performance have also subsided.
Despite favourable macro developments, indices witnessed correction last week.
After two consecutive weeks that gave good gains to traders with long positions, last week saw traders with put options gaining and looking forward to more gains.Their optimism comes from the fact
For yet another week, the Nifty had remained range-bound, but with underlying volatility.
The Nifty's zig-zag move for the large part of last week was a double-edged support for the derivative traders, as that presented an opportunity for contra trade, with quick, high returns.
Though it was a short trading week, the festive season could bring cheer to the Street, and to mid-cap investors.
On Friday, when the Asian markets were trading in the red and the European markets had opened gap down, it was expected that the Indian market would also come under pressure.
The market had a roller-coaster ride in the last three months.
Finally, after a gap of two months, market participants had got a rally that was tradeable through overnight positions.