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This Expiry Will Remain Very Volatile Due To Upcoming Exit Polls And General Election Results

Stock Market Today by Ripples Advisory – 17th May 2019

Nifty after finding support at 11100 levels and yesterday after closing near day’s high has breached 4 days high of 11300. If it continues to trade above 11300 levels then the market may continue its upward move.

The Nifty 50 Index rose 100 points or 0.90% to close at 11257 after making a low of 11143. As for now, 11100 may act as support for the markets while 11479 may act as resistance for the market. However as major players in the market FII & PRO have squared off 187700 sell contracts in the last expiry, which suggests market to be bullish. However the current expiry will remain very volatile due to upcoming exit polls and general election results.

Sector Analysis:
The market remained highly volatile last day and the sectors also showed really low movements. No sector rose above 1.5% among which Fertilisers (1.22%) from Major sector and Packaging (1.47%) from the Minor sector closed to become the top gainers.

Small cap stocks which showed a significant up move are Indiabulls Real Estate (11,24%) from Realty sector, Seamec (8.09%) from Energy-Oil and Gas, Uflex (4.62%) from Packaging, B L Kashyap and Sons (8.83%) from Infrastructure Construction And Engineering.

Top large-cap shares which performed well were Zee Entertainment Enterprises (7.24%) and Siemens (5.19%). Top mid-cap shares which have risen are Tata Global Beverages (10.82%) and Tata Chemicals (8.41%).

Open Interest Analysis:
FII+PRO in combined have squared off their short position of 187700 contracts and had carried short position of only (-) 59868 contracts for the May month expiry. For further detail check the Open Interest table below. The US 10 Year T-Note is trading at 124.57. The Bond has crucial support at 117.42 made on 5th Nov 2018. The US Dollar Index is trading at 97.645.

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