Movement of index in near term will depend on upcoming monetary policy
By Mr. Vivek Gupta [CMT – Director Research, CapitalVia Global Research]
New Delhi: Nifty Future remained volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month May 2015 series to June 2015 series hitting their lowest level in almost two weeks. After languishing in negative zone earlier during the week, nifty futures trimmed its all losses on last day of the week to close above the 8400 levels.
In overseas markets, European and Asian stocks were mixed. US stocks registered small, as investors grappled with comments from Federal Reserve officials about the possibility of raising interest rates this year.
Movement of index in near term will depend on upcoming monetary policy to be announced on 2nd June 2015, auto sales numbers to be announced by the auto companies starting next week and GDP data numbers which is going to be announced today later in the evening.
Technically, Nifty Future is expected to continue its current up move till 8600-8650 levels and it may consolidate their. Once it crosses its next important resistance level of 8650, further up move can be seen while if it breaches the immediate support level of 8330, it is expected to correct till the levels of 8250 - 8150.[/vc_column_text][/vc_column][/vc_row]
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