Indian Market Outlook:Yesterday, RBI governor Raghuram Rajan's last policy decision saw no change resulting in Nifty trading in a range of 8650 to 8750. Nifty is resilient at 8700 levels but despite strong buying by the FII in both cash and derivative segment it is unable to cross 8750 levels. The bulls need a closing above 8750 to take Nifty to the next level. The support of nifty stands at 8660 which becomes a buying opportunity. Bank Nifty is trading in a range and big moves can be seen if it crosses 19200 on the upside or 18800 on the downside. The big trigger for the markets will be State Bank of India results to be announced on 12th August.
Top 5 gainers were TATA Power, Zee Entertainment LTD, Infratel, Coal India and ONGC.
Nifty Futures is expected to open at 8721 as per SGX Nifty at 8:10 am IST, which is 23 points above its previous close of 8698.
Open Interest Index Futures:
On 9th August of 2016, FII & Pro have bought 168000 shares combined, below average of 705075.
The total for the August expiry from the 29th July was 2503875 shares which indicates that Buy positions are still created.
Open Interest Index Options:
On 9th August of 2016, FII & Pro have sold 2081175 shares combined, which is below the average of 2920650.
The total for the August expiry from the 29th was sell of 5616300 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.144 Cr and DII too have sold shares worth Rs. 610 Cr. Combined, net selling worth Rs. 466 cr was seen.
Since 29th July 2016, FII have bought Rs.4121 crore worth shares where as DII have sold shares worth Rs. 2847 crores in the cash segment.
FII and DII combined have a net buy worth Rs. 1274 cr since 29th July 2016.
The combined 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. 1274 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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