Indian Market Outlook: Indian benchmark Index Nifty will see a soft opening as we head to the October series F&O expiry. Global cues are weak as seen during overnight selling in US Index S&P, which fell by 17 points from the high of 2149. A number of Nifty stocks came out with their results namely Axis Bank, Kotak Bank and Bharti Airtel. The markets will discount these results in the trading session today. The support for Nifty stands at 8640-8650 and the resistance stands at 8740. The narrow band might continue as the Diwali holidays and festive mood might lead to lower volumes. Banking stocks in particular are big out performers in recent weeks with ICICI bank going up 18% in last few trading sessions. Some correction might be seen in Bank Nifty as it is unable to cross 19800 resistance since last two trading sessions.
Nifty Futures is expected to open at 8666 as per SGX Nifty at 8:30 am IST, which is 37 points below its previous close of 8703.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have sold shares worth Rs. 606.34 Cr and DII bought shares worth Rs. 389 Cr. A combined sell of Rs. 217 Cr. For this expiry, FII and DII together are buyers worth Rs. 2490 Cr.
In Index Options, last trading day, FII have sold 4437 contracts, below its 1 year average of 18280 contracts. Pro have sold 7225 contracts, below its 1 year average of 27670 contracts. Combined there has been a net sell of 11662 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 3073 contracts.
In Index Futures, last trading day, FII have sold 11678 contracts, above its 1 year average of 9706 contracts. Pro have bought 730 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 10948 contracts above its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 114309 contracts.
Data as on 25th October 2016. The % change is taken from previous day's close.
International Market Morning Update:
International markets gave a down move yesterday as Bell weather Apple gave disappointing results and S&P Futures gave a down close thus leading to weakness in Asian markets.
German Dax also saw 10820 high which is the near monthly gap level of 10804 but it was unable to cross it. This can now lead to correction in all global markets.
Nikkei in Asian Markets is trading down by 0.19% from its yesterday's close.
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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