Indian Market Outlook:The GST passage has completed an important chapter for Indian markets. As markets are forward looking, Nifty is expected to be settled in a range of 8550-8700 with a positive bias as indicated by the strong FII buying seen in cash markets. The RBI credit policy on 9 August will be the most important event for this calendar month and there are no expectations for any rate cuts. The support of nifty stands at 8550 and resistance at 8750.
Top 5 gainers were Bank of Baroda, Tata Motors, Tata Steel, Tata Motors DVR and Adani Ports.
Nifty Futures is expected to open at 8655 as per SGX Nifty at 8:20 am IST, which is 50 points above its previous close of 8605.
Open Interest Futures & Options Index Update:
On 4th August 2016, FII & have bought 428625 shares combined, below average of 705075.
The total for the August expiry from the 29th July to 4th August was 1537350 shares which indicates that Buy positions are still created.
On 4th August 2016, FII & have bought 2195475 shares combined, which is below the average of 2920650.
The total for the August expiry from the 29th July to 4th August was sell of 11451075 shares which indicates that Sell positions are created for the clearing.
FII & DII Cash Buy/Sell Activity:
Last trading day, FII's have bought shares worth Rs.559 Cr and DII have sold shares worth Rs. 527 Cr. Combined, net buying worth Rs. 32 cr was seen. Since 29th July 2016, FII have bought Rs.2385 crore worth shares where as DII have sold shares worth Rs. 1977 crores in the cash segment.
FII and DII combined have a net buy worth Rs. 409 cr since 29th July 2016.
The combine FII and Pro have seen a continued increase in long position in Index future and an increase of short position in index options. In the cash segment FII and DII combined are net buyers of Rs. 409 Cr since 29th 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
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