Indian Market Outlook: Indian Benchmark Index Nifty saw a range movement between 8080-8130. Today being the last day of November FO series volatility can be expected. The support for Nifty stays at 7925 and Bank Nifty is trading at a support level of 18500.
FII have been net sellers on the cash markets but past two days there has been some buying in NSE. Small Cap Index which has gone up by 150 points from low of 5410.
Nifty Futures is expected to open at 7969 as per SGX Nifty at 8:30 am IST, which is 45 points below its previous close of 8014.
FII Monthly Cash Activity for 2016:
FII's have sold shares worth Rs. 15013.22 Cr in the month of Nov. Such heavy selling was experienced in the month of Jan, 2016 to the tune of Rs. 14356 Cr and it stretched into the month of February where FII's were sellers worth Rs. 12513 Cr and Nifty reacted negatively by ending February down 550 points from Jan close. The current selling also signals an extended weakness in the markets.
Top 3 option strikes for Nov Expiry
The above table shows that for the month of November, heavy Open Interest in call stands at 8200 strike and in Put at 8000 strike. This signals that the expiry is going to be in the range of 8200 to 8000.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have sold shares worth Rs.1023.10 Cr and DII bought shares worth Rs. 1255 Cr. A combined buy of Rs. 231.55 Cr. For this expiry, FII and DII together are sellers worth Rs. 1574.20 Cr.
In Index Options, last trading day, FII have sold 6630 contracts, below its 1 year average of 18280 contracts. Pro have bought 19526 contracts, below its 1 year average of 27670 contracts. Combined there has been a net buy of 12896 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 503772 contracts.
In Index Futures, last trading day, FII have bought 445 contracts, below its 1 year average of 9706 contracts. Pro have sold 8732 contracts, above its 1 year average of 4903 contracts. Combined there has been a net sell of 8287 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 67594 contracts.
International Market Morning Update:
International markets remain in the uptrend. S&P Futures is trading above 2199 and German Dax is trading in a range of 10650-10800. There is a big divergence between developed and emerging markets, where the latter is falling because of short term rise in US Interest rate in December.
In today's trading Japan's Nikkei is trading up by 1%.
Trump's Presidency policy disclosure and the Dec rate hike expectations in the US can keep the markets volatile for the days to come.
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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