Today was last trading day for the june contract of the Nifty futures. The market remained inside a channel, with NIFTY above 5100 and below 5160 and BANKNIFTY above 9900 and below 10050 levels. Most of the time volatility exists during the contract expiry days, but this time it had a different story to tell.
As many analysts would agree that the macro outlook of the NSE futures is very bright and thus, sub 10000 levels on the BANKNIFTY and sub 5200 levels of the NIFTY are poised to be good for long term investors. Tomorrow trading volume will be seen in the new July contract and with the suspense building on the GAAR’s implementation, and possible rate cut in the petrol prices; the market should start with a positive note.
I sign off for today and hope tomorrow brings in the new colors of joy and prosperity.