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MTECHTIPS EQUITY MARKET NEWS

MTECHTIPS:-Market Snapshot
Nifty futures witnessed gap up opening following the better global cues but could not able to sustain at higher levels around 5750 levels in absence of follow up buying interest and selling was seen towards 5700 area. Nifty is hovering near 5700 psychological zone if it fails to hold these levels then selling pressure may be seen towards 5600 levels in coming days. Nifty for the day, if it sustains 5750 levels then only rally may be seen towards 5800 levels which will act as immediate resistance zone for the market whereas if it fails to hold 5700 levels on downside then selling pressure may be seen toward s 5670-5650 levels. Nifty future saw marginal decrease in OI by 0.13% with a rise in price by 0.4%. Market witnessed buying interest in CD, HC, IT, FMCG, CG, Banking, Tech and Metal space whereas marginal selling pressure was seen only in Oil & Gas and Power space. Nifty future closed at premium of 19 points as compared premium of 25 points in previous trading session.

MTECHTIPS:-Options Analysis
On the Options front, maximum Put OI is at 5600 followed by 5500 strike price whereas maximum Call OI is at 5800 followed by 6000 strike price. The Put Call Ratio based on Open Interest of Nifty slightly moved up from 1.02 to 1.03 levels. Historical Volatility of Nifty moved down from 17.98 to 17.53 levels and Implied Volatility also moved down from 16.34 to 16.10 levels. The market turnover increased by 10.2% in terms of number of contracts traded vis--vis previous trading day whereas in terms of rupees increased by 9.99%.

MTECHTIPS:-Technical Snapshot
The Nifty opened the day with gains, and the index soon moved up till afternoon, but some selling emerged in the final hours, but the index managed to close the day with gains. The session was marred by volatility as the rally seemed to be fizzling out when investors started booking partial profits around the psychological 5,700 levels in afternoon trades. However, sanguinity prevailed till the end as investors continued piling- positions in select blue chip stocks. The sentiments also got some boost as private banks viz. ICICI Bank, Kotak Mahindra Bank and HDFC Bank gained on hopes that their quarterly earnings would prove resilient.The gains came despite a sharp downward revision in Indias 2012 growth forecast by the International Monetary Fund (IMF). It expects Indias GDP for 2012 at 4.9 per cent, perhaps the most pessimistic growth outlook by a global body. IMF lowered its forecast despite the government unleashing a series of reforms to attract foreign investment and boost business sentiment in the country. Someamount of support also came in from software counters, which rose to near a percent after the Indian rupee fell to a one-week low on October 8, 2012, and posted its biggest single-day fall in three months. Buying in FMCG space also supported the frontline indices as stocks like Marico, HUL and Gillette India edged higher on favourable outlook for Rabi or winter crop following wide-spread rains in August and September.