Power play on expiry

"He who controls others may be powerful, but he who has mastered himself is mightier still" - Lao Tzu.

The ‘Men in Blue’ have mastered themselves and are just a match short of holding aloft the coveted World Cup trophy. The Indian market too is exhibiting euphoria of sorts with the key indices advancing for seven straight sessions. It has been mostly a Large-Cap rally, fueled by renewed traction in FII inflows. The juggernaut may roll on for a while till the FIIs turn off the money taps.



The key indices will open with a positive bias once again today. But in the near-term, the market does look a bit overheated. So, don’t be surprised to see some moderation at higher levels. The Nifty might face some resistance around 5835. The medium-term trend could stay positive, provided the Nifty sustains above 5690.

The F&O indicators are encouraging ahead of the expiry today. Overall rollover is likely to be strong. The Small-Caps and Mid-Caps could remain in the limelight as the Large-Caps run out of steam. Don’t allow the excitement to deceive you into weaker counters; remain cautious and stick to quality names.

FIIs were net buyers of Rs 7.39bn in the cash segment on Wednesday, according to the provisional NSE data. The domestic institutional investors (DIIs) were net sellers at Rs 6.15bn on the same day. FIIs were net buyers at Rs 13.33bn in the F&O segment. The foreign funds were net buyers at Rs 15bn in the cash segment on Tuesday, as per final SEBI data. Mutual Funds were net sellers at Rs 2.9bn in the cash segment on the same day.