Media channels are saying that RBI is pressuring state-owned banks to trade the derivatives that provide hedges against the country's volatile interest rates. But banks are reluctant to trade in bond futures as they are not interested to do this and more over they have not been made any complainace system for bond future trading.
RBI is able to know that which banks are placing orders in bond futures and which banks are not taking part in bond future trading through an MIS system for bond future trading. Bond futures are being traded at MCX exchange, most of the banks are not willing to go to MCX exchange.
RBI insisting bank to do this for hedging purpose, but banks are not interested due to lack of depth and liquidity of this product.
Today the market fell down as we predicted that Nifty started to fall from 6040 level and finally settled around 5995 level. On further fall, it may even fall below 5950.If so identify the potential scrips in the market and buy some quantity for your short-term gain. Rest of the quantities can be bought while the price of such stocks are getting bounce back.
Visit our official website www.bullsstreet.com() for stock market updates and Nifty levels for futures and options.
Prof.T.A.Vijey.,M.E.,(Ph.D)
National Stock Exchange of India certified Trainer &
NSE certified market professional
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