DSIJ Mindshare

Overall volumes in futures & options currently stand at 3.24 crore contracts with a turnover of Rs. 19,64,632.45 crore.

Overall volumes in futures & options currently stand at 3.24 crore contracts with a turnover of Rs. 19,64,632.45 crore.

The index after touching 200-day EMA bounces back and formed bullish candle on Thursday and also managed to open with upside gap on Friday, which indicates bulls are in a dominant position. This movement can be attributed to the budget's focus on farm and rural sector, and the fact that rural income is a major factor driving FMCG sales.

The stock of Jet Airways was surging in Friday's morning session as the market expected a resolution of its financial crisis with Etihad agreeing to rescue the ailing airline.

Ahead of Interim Budget 2019, Bank Nifty has formed sizeable bullish candle on Thursday and also managed to close above its important short term moving average, i.e. 20-day EMA and 50-day EMA, which suggest bulls were in dominant position.