Nifty Eyes 8800 with Expected Passage of GST Bill

Indian Market Outlook: Nifty benchmark index was positive last week on expectation of passage of GST bill as well as positive global cues. Nifty spot is currently facing stiff resistance between 8640-8680, however, with strong FII flows it is expected that the level should be crossed and 8800 mark is on the cards by the GST passage. Caution should be kept in mind that this rally has continued since last 5 months and once GST is passed correction can set in.

Top 5 gainers were Eicher Motor, Adani Port, Zee Entertainment Ltd, Lupin and Tata Power.

Open Interest Futures & Options Index Update:

 

On the first day of August expiry, 29th of July, FII & Pro have bought 114900 shares combined which is below the average of 705075.

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

 

 

On the first day of August expiry, 29th of July, FII & Pro have sold 1990575 shares combined, below
average of 2920650.
The total for the July expiry from the 1st July to 28th July was -574725 which indicates that a Buy positions which were created for the clearing were squared off.



FII & DII Cash Buy/Sell Activity:

In the week gone by, FII continued its buying spree in the cash segment with a buy totaling worth Rs. 3720 cr. DII, on the other hand stood opposite with a net sell worth RS. 1564 cr in the same period. Combined, shares worth Rs. 2155 cr were bought for the week.

The combine FII and Pro have seen a continued increase in long position in Index future and a increase of short position in index options. In the cash segment FII and DII combined are net buyers of Rs. 2155 Cr since 25th 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