Derivatives: Short covering in the stock future counter may propel the index past 5000 mark
Sunday, September 20, 2009
The previous week witnessed the S&P CNX Nifty touching the iconic 5000 mark after the reported advance tax payments improving by six times for some firms compared with the previous quarter. The positive advance tax payout indicates that the economic is showing signs of improvement. As the future market enters the expiry week huge volatility is expected as earnings season begins during the next series.