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MTECHTIPS:-Market Snapshot:
Nifty futures witnessed a relief rally after consecutive five trading session's fall of over 200 points. Nifty witnessed support based buying interest around 4900 levels and above that level short covering rally was seen towards 4950. Nifty future saw decrease in open interest by 1.6% with a rise in price by 1.1%. Market witnessed buying interest almost across the board especially in CG, Metal, IT, Tech, HC, Realty, Banking and PSU sector stocks whereas selling pressure was seen only in FMCG sector stocks. If Nifty future sustains above 4920 levels then relief rally may remain continue towards 4970-5000 which is next immediate resistance zone. Whereas sustaining below 4880 levels would attract selling pressure towards 4850-4820 levels
Nifty futures witnessed a relief rally after consecutive five trading session's fall of over 200 points. Nifty witnessed support based buying interest around 4900 levels and above that level short covering rally was seen towards 4950. Nifty future saw decrease in open interest by 1.6% with a rise in price by 1.1%. Market witnessed buying interest almost across the board especially in CG, Metal, IT, Tech, HC, Realty, Banking and PSU sector stocks whereas selling pressure was seen only in FMCG sector stocks. If Nifty future sustains above 4920 levels then relief rally may remain continue towards 4970-5000 which is next immediate resistance zone. Whereas sustaining below 4880 levels would attract selling pressure towards 4850-4820 levels
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