Indian Market Outlook: Indian benchmark index witnessed a roller coaster ride yesterday, as Nifty opened gap down on twin news of Trump victory and Indian government's decision to ban Rs.500 and Rs.1000 notes. Sharp buying was witnessed after a gap down opening. Market made a low of 8076 before recovering sharply. Nifty made fresh intra day highs boosted by the broader markets and banking stocks, discounting all negativities of a Trump victory and the Indian currency apprehensions. FII data which came in after markets hours saw a selling of Rs.2100 cr even though they were buyers in F&O segment. The markets are showing strength at lower levels but will have to sustain this week above 8550 for the next target of 8800 to be achieved.
Nifty Futures is expected to open at 8504 as per SGX Nifty at 8:30 am IST, which is 26 points above its previous close of 8478.
Open Interest Index F&O and Cash Segment Activity:
In cash segment, last trading day, FII have sold shares worth Rs. 2095 Cr and DII bought shares worth Rs. 1116 Cr. A combined sell of Rs. 979 Cr. For this expiry, FII and DII together are buyers worth Rs. 1129 Cr.
In Index Options, last trading day, FII have sold 14766 contracts, below its 1 year average of 18280 contracts. Pro have sold 12002 contracts, below its 1 year average of 27670 contracts. Combined there has been a net sell of 26768 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 174779 contracts.
In Index Futures, last trading day, FII have bought 11268 contracts, above its 1 year average of 9706 contracts. Pro have bought 1936 contracts, below its 1 year average of 4903 contracts. Combined there has been a net buy of 13204 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 42985 contracts.
International Market Morning Update:
Data as on 9th November 2016. The % change is taken from previous day's close.
International markets are on an upward bias after a knee jerk reaction. S&P futures went on to make a low of 2028 before going up to 2160, a recovery of 132 points or 6.5% from its intraday low.
S&P futures need to sustain above 2150 for it to cross above 2190.
The other international markets like German Dax went up by more than 5% yesterday. Today, Japans Nikkei is up by 5%.
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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