FII Derivatives Analysis for 24 May Trade

Today we had the Steepest rise in Petrol Prices Rs 7.50,Quantum of Hike will lead to inflation as price of essential goods will rise and whole brunt will be borne by Common Man!!. For Stock Market Perceptive its negative for Auto Stocks, Bank Stocks (as Further rate hikes will not be done) ,Infra Stocks and positive for OMC BPCL,HPCL and IOC.
Global Screen is looking scary with S&P coming closer to its 200 DMA@1279. Always remember Oversold and get more Oversold so do not Buy just because Market is oversold it will harm your financial wealth and peace of mind.

1. FII  sold 33591 Contracts of Index Futures worth 812  cores OI increased by 8427.
2. As Nifty Futures was down  by 26  points with  OI increased  by 8427 , Shorts have entered the system.
3. INR closed at new low of 56.08 (http://usdinrlive.blogspot.in/) Click on link to see Real time rate for INR, with fuel price hike INR can see some strength tomorrow.Till Nifty does..

Read the Full Story