Kumar Mantri News Today

The recent price action in the TCS is exhibiting strong bullish signals with technical indicators showing positive cross over on the daily basis.

Short-term traders may consider a buy-on-declines strategy for indices; however, they are advised to brace for significant volatility in the coming days.

The option chain shows that the 1,600 PE of LUPIN May series has strong open interest of more than 1.3 lakh shares, indicating a robust base on the lower side.

The BPCL counter is making intraday highs even in volatile market conditions and is expected to test Rs 615-620 levels over the next three to four sessions, derivatives trader Arun Kumar Mantri has said

HDFC Bank is currently trading around the strong support area of 1470-1500 on the daily charts and is expected to maintain this level in the upcoming sessions. The uptick in OI at 1520/1530 strikes hints at a potential recovery attempt suggests a moderately bullish view

Open Interest of more than 8.1 lakh shares indicates short covering once the stock crosses and sustains above 225-226

The index is expected to revolve in the range of 22,350-22,550 for the near-term period, while any breach above 22,550 will trigger short covering towards 22,700 plus levels in the coming truncated week

Ahead of the monthly derivatives expiry on February 29, significant stress is being seen at the 22,000 strike

The Nifty IT index is grappling to overcome the selling pressure emerging around the 36,000 mark. This hurdle must be surpassed to enter the next leg of upside, as per experts.

The India VIX, representing the volatility index, concluded the month of November at 12.69, marking an 8.18 percent monthly gain. With the approaching elections and bullish signals suggesting a market recovery, there is an anticipation of a further surge in volatility.