New Delhi, Feb. 23 -- Last week, I wrote that high volatility may prevent aggressive buying. That hypothesis was vindicated by markets as overall market-wide position limits (MWPL) eased last week. While part of this was due to the impending expiry of the February derivatives series, the lack of conviction was evident too. Last week, the unconfirmed news of Russia returning to the US dollar triggered hope-based buying, which faded as quickly as it began. These are extremely edgy markets, and sustainable trading trends are missing. Naturally conviction levels are likely to be somewhat lower. Markets prefer continuity and low volatility, which was missing last week.
The number of shares bought under the margin trading funding (MTF) scheme ea...