Indian stock market volumes continue to be moderate in derivatives despite steady gains in the market in the past few weeks. Nifty continues to trade at a premium to spot, reflecting the bullish trend and the open interest has improved in the market. Traders are expecting Nifty to move all the way upto 5800 incase it makes a move above the 5300 mark.
Banking stocks are attracting buyers on every decline. Recent hikes in CRR will suck liquidity but will not affect credit offtake say bankers. Results of many PSU banks clearly reflect strong balance sheet. Strong buying suggested in PSU banks. Punters tip buying in private banks InduSind, Axis, KTK Bank and Kotak for short-term gains.