Nifty futures in Singapore stock exchange is up more than 10% at 4053. Singapore Nifty or SGX Nifty is up 368 points from previous close of 3685. On back of UPA coming back to power, Indian markets are expected to open strongly. Prelude to that Singapore nifty has a given an indication of the opening.
Though many Asian Markets are trading weak, Singapore nifty is currently trading at 4060 points.
Such strong opening suggests that many players seem to have been caught on the wrong foot, by selling nifty futures and higher call options of nifty.
One should not rule out the possibility of smart operators booking profits at the opening. Therefore, investors should not get carried away with sheer exuberance.