Mumbai: Jittery traders carried forward fewer futures positions to the November series on expiry of the October contracts on Thursday amid uncertainty over the outcome of the US Presidential election next week and concerns over the second wave of coronavirus-led restrictions in Europe. Derivative analysts said the bullish bias is intact as the index has gained 8 per cent in the October series but some positions were liquidated ahead of expiry as wild market swings are expected around the US elections on November 3.Nifty rollovers to the November series stood at 72 per cent on provisional basis, lower than the three-month average of 76 per cent. The Bank Nifty gained 18 per cent in the October series. The bank index has seen rollover of around 80 per cent on provisional basis, slightly higher than the three-month average of 77.3 per cent. “Outlook is cautious because of US elections and the second wave of Covid in some countries. Writing among puts has shifted lower to 11,200 strike against 11,500 strike earlier,” said Rajesh Palviya, head of technical and derivatives at ICICI Securities. “Many of the stocks are seeing profit booking immediately after the results... they are not able to sustain their rallies after posting good numbers.” Analysts have also predicted a wide range for the index between 11,200 and 12,200. Options data in the new series is also scattered across various strikes, with maximum open interest among puts at 11,000 followed by 11,500 strike. Among call options, maximum call OI is at 12,000 followed by 12,500 strike. Some in the market believe that re-election of Donald Trump as US President would mean continuity in policies and he is considered to be more market-friendly. There are others who believed that it will not matter who is elected and that post election market direction hinges on the stimulus announcement in the US. “Nifty has to cross and hold above 11,750-11,777 zone for a bounce towards 12,020 then 12,200 zones ahead of festive season while on the downside major support exists at 11,500 then 11,333 zones,” said Chandan Taparia, derivatives analyst at Motilal Oswal.
A professional and modern illustration of job seekers searching for jobs on their laptops and smartphones. The scene includes a large job search portal on a screen displaying job listings, with people interacting with it. The background features a city skyline, symbolizing local job opportunities. The color scheme is bright and inviting, with a mix of blue and green tones to represent trust and growth. Looking for job openings near me ? You’re in the right place! Whether you’re searching for a full-time career, part-time work, or remote opportunities, this guide will help you find the best job openings in your area quickly and easily. Why Search for Local Job Openings? Finding a job near you offers several benefits, including: Shorter commute times Better work-life balance More networking opportunities in your local community Faster hiring process with local employers How to Find the Best Job Openings Near You Here are some proven strategies to land a job in your area: 1. Use Job Sear...
Comments
Post a Comment