The following is a snapshot of market activity in the derivatives segment of the National Stock Exchange on Thursday. ALok Industries,IFCI,Hindalco,Tata Motors,ITC were among the top gainers in open interest for the September contract. While Suzlon,Cairn India,Tata Steel,Hindustan Unilever and Titan Industries were among the losers. Nifty showed good strength from support near 4,950 levels. If Nifty shows strength above 5,075 levels,then rally to 5,125/5,160 could be seen. If Nifty does not show strength above 5,075 levels,then selling pressure till 5,040/4,980 is likely,said Puneet Kinra,senior technical analyst,Bonanza Portfolio. Majority of the economists are forecasting another 25 bps rate hike from the RBI on Friday despite telltale signs of slowdown. The short-term sentiment will be driven by the outcome of the RBI meet and overseas events,said Amar Ambani,head of research,India Infoline.
