Major Indian equity indices advanced to reclaim levels lost last week with fresh long positions taken by traders in index futures.
The anticipated range of the Nifty 50 index remains in the range of 9,500 to 9,700 as indicated by maximum index options written with expectations of little change in volatility in the near term.
With foreign institutional investors now adding small positions in index futures, can traders expect indices to trend upwards in the near term? On BloombergQuint's Surf's Up, which tracks weekly trends in equity derivatives, Chandan Taparia of Anand Rathi says the Nifty is poised to take out 9,700. He is positive on non-banking financials and auto ancillary stocks. For more on what levels to bear in mind and stocks to watch, listen in.
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