Expect Market to be very volatile - Reliance Securities

Weekly Market Outlook by Mr. Rakesh Tarway, Head of Research, Reliance Securities.

With the derivatives expiry and financial year end scheduled during the next week, we expect market to be very volatile.

The option data also continues to suggest an immediate resistance at 9,200 strike as it has the maximum OI of 6.7 million shares. On the downside 8,800 strike has the maximum put OI of 5.4 million shares.

We expect an extensive movement in the current week and sustenance above levels of 8,980 to 9,000 will be watched for the up-move. We expect sharp profit booking in high beta sectors and midcaps in case NIFTY breaks below levels of 8950.

Source : Equity Bulls

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