F&O SNAPSHOT.
NIFTY Dec. Future closed at 2981.40 (Rs. 0.20 PREMIUM) with a turnover of Rs. 9986.12 Crores. Sheds 204050 shares(-0.53%) in open interest bringing down the open interest to 38374926 shares.
Nifty spot is now riding along with the upper band of Bollinger Band. Same is the case with Sensex. Today Sensex made a doji, revealing the uncertainty. The major trend is bearish, hence one has to be cautious in such situations. Since few sessions, market discounted any of the bad news. Also did not stage a smart rally on good news. Only thing done was it countered the bad news and did not come down. Since 8th December 08, we had seen the addition in open interest in the nifty futures of December contracts. But today we saw the cut. So one has to be cautious.
