Indian Market Outlook: Indian benchmark Index Nifty, had a strong closing yesterday, up by 40 points to extend the strong gains made earlier this week. Banking shares were top gainers with ICICI Bank up by more than 2 percent in reading yesterday. NSE Small Cap Index hit fresh all time high of 6463 but closed a tad lower at 6447. This indicates that the buy momentum continues in the Indian market. Nifty needs to cross the resistance of 8740, which if it fails to do, it can enter into a trading zone of 8600-8700.
Nifty Futures is expected to open at 8700 as per SGX Nifty at 8:30 am IST, which is 9 points below its previous close of 8709.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have bought shares worth Rs. 7.30 Cr and DII bought shares worth Rs. 583 Cr. A combined buy of Rs. 591 Cr. For this expiry, FII and DII together are buyers worth Rs. 2471 Cr.
In Index Options, last trading day, FII have bought 74331 contracts, above its 1 year average of 18280 contracts. Pro have bought 4782 contracts, below its 1 year average of 27670 contracts. Combined there has been a net buy of 79113 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 2011 contracts.
In Index Futures, last trading day, FII have sold 5396 contracts, below its 1 year average of 9706 contracts. Pro have bought 782 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 4614 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 102866 contracts.
International Market Morning Update:
International markets are mixed with European Indices ending in gains after ECB chief Mario Draghi kept interest rates unchanged and left room open for further stimulus. German Dax went up by 0.5 percent, however, US Indices closing marginally down with S&P Futures closing down by 2 points. Asian markets are flat in trading with Nikkei trading at 40 points.
Japan's Nikkei is trading up by 0.31% today morning.
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.
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