Volatility Expected in Nifty On Japan US Credit Policies

Indian Market Outlook:

Indian benchmark Nifty is steady at 8800 trading in a range for past few trading sessions as it awaits US Fed policy decision and possible timing of next interest rate hike. The dovish Fed can pull the markets higher and 9000 should be the next target on the upside. A hawkish Fed can take nifty down from previous week low of 8715 to 8560. There is a either side directional move waiting to happen. Yesterday, markets saw out performances from Chemical sector which notched big gainers like Chemfab alkali and India Glycol. Banking stocks were down but Yes Bank after a down wave of selling saw a handsome gain of 2 percent.

Nifty Futures is expected to open at 8795 as per SGX Nifty at 8:30 am IST, which is 8 points below its previous close of 8803.

 

Open Interest Index F&O and Cash Segment Activity

In cash segment, Last trading day, FII have sold shares worth Rs. 1146.93 Cr and DII bought shares worth Rs. 778 Cr. A combined sell of Rs. 369 Cr. For this expiry, FII and DII together are buyers worth Rs. 2293 Cr.

In Index Options, last trading day, FII have sold 859 contracts, below its 1 year average of 18280 contracts. Pro have sold 36837 contracts, above its 1 year average of 27670 contracts. Combined there has been a net sell of 37696 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 16513 contracts.

In Index Futures, last trading day, FII have sold 1617 contracts, below its 1 year average of 9706 contracts. Pro have bought 6928 contracts, above its 1 year average of 4903 contracts. Combined there has been a net buy of 5311 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net buyers of 62030 contracts.

 

International Market Morning Update: International markets continued to be in the range with US Index S&P futures trading at 2130 levels since the past two trading sessions and it is critically posed as an upswing from current prices will take it to 2190 while on the other hand if S&P Futures trades below 2110 it can retest 2065 which is its two month low. The Fed policy announcement at 11.30 pm IST today will decide the course of direction of the global indices.

The German Dax too was range bound in trading yesterday. The range of Dax in the last few trading sessions has been at 10450-10260 which is narrow and a breakout of either side is expected tonight.

In Asia Japan's Nikkei is trading flat as it awaits the credit policy announcement expected at 8.45 am IST today.

Other Emerging Asian markets too have remained in a trading range yesterday with a mixed movement.

 

List of Top gainers and Losers on 20th Sep 2016

 

Dynamic Sector Performance

The Percentage denotes Sector wise performance.

• Chemical sector rallied the most, the sector was up by 2.11%, India Glycols zoomed 19.98%, Chemfab alkalis moved up by 12.23% and Bhageria Chemical was up by 9.51%.
• Media Entertainment rallied 0.22% in this subdued market were PVR rose 4.01% and Den Network was up by 2.69%.
• ENTERTAINMENT-HOTELS AND LEISURE rose 1.50% in which Delta corp Limited rose 7.03%.

 

Stocks Near Support

 

DISCLAIMER

Research Team - Tel: 033-30010001, write to us at clientsupport@dynamiclevels.com to give feedback. Website: www.dynamiclevels.com

1. 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 
2. Past performance is not an indicator of future returns.