After six months, the Nifty breached its late January record high and formed a new peak in a convincing manner on Friday. But good that we don’t have an index to gauge the actual sentiment on
With the Nifty and Bank Nifty touching new highs, option buyers had a good time last week. After a long time, traders were having second thoughts about rolling over their short positions.
After a long time, traders focussed on individual stocks surely felt better last week.
The Sensex has ascended a new high last week. And its peer Nifty is close to accomplishing a similar feat.
Friday morning presented an interesting contrast. Most business dailies had two prominent news stories on the front page. The first was Sensex touching a new high, with the Nifty almost there.
While the Sensex has formed a new high and entered into uncharted territory, the Nifty is closely behind.
The first week of July would have appeared as a good start for the equity market since the Nifty had closed the week with a gain of 78 points.
Despite the early week scare, call option buyers who had the guts to buy calls in a market correction had got good short-term returns last week.
While volatility is part and parcel of the expiry week, it usually happens before the event or on the day of derivatives contracts expiry.
Finally, two sessions of the past week showed some convergence between the Nifty and the broader market. On Wednesday and Thursday, the benchmark index declined—the decline wer