Nifty Closes Above 8650 as GST seems a Reality

Indian Market Outlook:

Nifty ended the July F&O expiry on a strong note closing above 8660. July has seen the comeback of FII who have bought over Rs. 12000 crores worth of stocks in the cash market. The consensus amongst all political parties regarding GST is a strong indication that the bill might see the light of the day in Rajya Sabha next week. Nifty can see a sharp upside movement if it is able to sustain above 8650 and possible upsides targets could be 8800-8850 in the event of GST being cleared. The support of Nifty remains at 8565. Another major event to watch out for the day is the Bank of Japan Policy decision where investors would keenly watch for any sign of further stimulus.

The Top 5 gainers are Asian Paint, Infratel, Maruti, Eicher Motor and Bosch.

Nifty August Futures is expected to open flat at 8693 as per SGX Nifty at 8:00 am IST.

Open Interest Futures & Options Index Update:

On 28th of July, 

FII & Pro have sold 1909350 shares combined which is above the average of 705075. Important to note that yesterday was F&O expiry.

The total for the July expiry from the 1st July to 28th July is buy 5231025 shares, which indicates that big players have built long positions in market.

On 28th of July, FII & Pro have sold 4764525 shares combined which is above the average of

2920650. Important to note that yesterday was F&O expiry.

The total for the July expiry from the 1st July to 28th July is 574725 which indicates that a sell position has been created for the clearing.

FII & DII Cash Buy/Sell Activity:

Last trading day, FII have bought shares worth Rs. 1767 Cr and DII have sold shares worth Rs. 1074 Cr. Combined, net buying worth Rs. 693 cr was seen.

Since 1st July 2016, FII have bought Rs.10136 crores worth shares where as DII have sold shares worth Rs.6202 crores in the cash segment.

FII and DII combined have a net buy worth Rs. 3934 Cr since 1st July 2016.

The combine FII and Pro have seen a continued increase in long position in Index future and an increase of long position in index options. In the cash segment FII and DII combined are net buyers of Rs. 2988 Cr since 1st July 2016.

Disclaimer:

The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research team. Users are advised to use the data for the purpose of information and rely on their own judgment while making investment decision.

Dynamic Equities Pvt. Ltd - SEBI Investment Advisory Reg. No.: INA300002022