Markets Poised to Perform Well on Expiry Day

Today is expiry day for April derivatives contracts. Indian markets should do well because of following positive news flow :-

• US Fed kept its rates unchanged.
• Dow closed up by 51 points.
• Bank of Japan has kept it's interest rates unchanged.
• Asian markets are mostly in green
• Global oil is up
• SGX Nifty is up by 32 points (Update at 9AM : SGX Nifty has suddenly turned negative by 16 points)

Yesterday headline for my morning post was "Markets May Laze - Look Out For 8000 in Nifty". Indian markets did laze around in yesterday's trade. Nifty low was 7941 and high was 7991, merely 50 points of intraday variation.

Market Direction
Today Nifty should do well and cross 7800 with ease. I wouldn't be surprised if Nifty touches 8100.

Call-to-Action

Yesterday in my morning post Markets May Laze - Look Out For 8000 in Nifty , I had given buy call for two banking scrips of May Futures and same were bought as given below:-

1. SBI May Fut bought at 199. Target 206
2. Bankbaroda May Fut bought at 160.5. Target 166

Bank of India Apr Futures buy position is held with us. This needs to be squared off today by all means, since it is expiry day. Take following action in trade today :-

Bankindia Apr Fut to be sold at 99/100. It was bought at 98 and initial target given was 120.
Update : Roll over Bankindia Apr Futures to May Futures.