Nifty could see support at around 6,000: analysts
Reuters Market Eye - The Nifty could see support at around 6,000 points, analysts say based on a rise in put options at that level.
Open interest for put options at 6,000 points increased by 400,000 contracts on Monday, suggesting these investors don't expect too much downside below this level.
The Nifty had fallen 1.25 percent in the four sessions between Tuesday and Friday after the RBI cut interest rates as expected but adopted a more cautious stance on future rate cuts.
(Reporting by Manoj Dharra)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Online Grocery Shopping
Put off by snarled city traffic and a shortage of parking, more Indians are shopping for groceries online, helping e-tailers like Bigbasket.com and Localbanya.com turn in profits while supermarkets are struggling. Full Article
Disputes over land for industry on the rise in India, angering locals - charities Full Article