Indian Market Outlook: Indian benchmark Index Nifty saw a day of profit booking where it tested the support of 8600 before closing at 8615. Today being the last day of the October F&O expiry, one can see volatility in the markets.
Bank Nifty which has rallied in the last few days had a gap down opening yesterday, before closing at 19500. Bank Nifty has an important support at 19350 and this level needs to be watched in the coming days.
NSE smallcap is in a Buy trend and if it remains above 6430, it will give buyers the upper hand.
Nifty Futures is expected to open at 8582 as per SGX Nifty at 8:30 am IST, which is 31 points below its previous close of 8613.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have sold shares worth Rs. 1450.70 Cr and DII bought shares worth Rs. 989.50 Cr. A combined sell of Rs. 461 Cr. For this expiry, FII and DII together are buyers worth Rs. 2029 Cr.
In Index Options, last trading day, FII have sold 20083 contracts, above its 1 year average of 18280 contracts. Pro have sold 103072 contracts, above its 1 year average of 27670 contracts. Combined there has been a net sell of 123155 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 126228 contracts.
In Index Futures, last trading day, FII have sold 4751 contracts, below its 1 year average of 9706 contracts. Pro have sold 2527 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 7278 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 121587 contracts.
International Market Morning Update:
Data as on 26th October 2016. The % change is taken from previous day's close.
International Markets recovered yesterday after it witnessed selling in the afternoon. The S&P futures made a low of 2128 before it recovered by 12 points and made a high of 2140. The Index closed at 2134 by the end of day’s trade. S&P future is trading in a narrow range of 25 points between 2145 and 2120. There is a high probability that it will remain in this range till the US Presidential elections on the 8th of November.
The German Dax also corrected and dropped down to levels of 10660 before witnessing a brief recovery and closing at 10700 levels.
Japan’s Nikkie is trading flat at 17341 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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