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Comparatively the contract value of Sensex is lower than the Nifty. So, I think that is also for competition, that is also for more retail participation and again this is for, as per the rule of keeping the derivatives contract value to 5 lakh rupees.
The trend is likely to be volatile. The index it needs to hold above 20,250 to move towards 20,450 and then 20,600 levels. A slip can result in a decline towards 20,100 and then 20,000
Options data points towards a continuation of the rally to test higher levels of 22300 and 22500. Immediate trading support stands at 22000-21900. A positive view negates only below 21700.
Fin Nifty is witnessing heavy traction around the 21,000 level, with the highest OI seen in both CE and PE. Analysts anticipate a positive bias until this mark is defended.
“If the spending on elections allows the two-wheeler segment to revive, all the three large two-wheeler companies, and then Eicher, which is relatively more niche, will see some kind of uptick in terms of sales. The stock prices have already started to go up so maybe people know much more than what I am talking about.”