Sensex and Nifty Rises on Short Position Covering on 22nd Nov 2011

The Volatile Indian stock markets in line with the international counterparts, today on 22nd Nov 2011 bounced back. After falling for many days in row since eight sessions, the Indian stock market today opened higher than the previous closes giving speculators and short term investors have huge opportunities to earn some decent returns from this hyper volatile market.

The BSE 30 stock index, Sensex opened 151 points higher than the yesterday’s closing. And the NSE Nifty opened 45.45 points higher than the previous close.

This rise in the stock markets is said to be led by speculators for the purpose of covering short positions ahead the monthly expiry. Though, on international front, the markets have weakened from the USA to Asia. So this positive movement in the prices of stocks and indices does not indicate towards any revival in the market.

The retail investors are suggested to tread with caution as this is not an opportunity to invest in the market. Instead it is an opportunity to sell the stocks that have earned some profits or break even. Also this trend does not indicate that every stock has gained. When trading, treat each stock carefully.

2 Comments to “Sensex and Nifty Rises on Short Position Covering on 22nd Nov 2011”

  1. Terrific work! This is the type of information that should be shared around the web. Shame on the search engines for not positioning this post higher!

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