Indian Market Outlook: India's Benchmark Nifty fell by 163 points from its high of 8287 yesterday. The benchmark is experiencing a "see saw" between the bulls and the bears as evident from Nifty oscillating between the range of 8600 to 8100, two times in last 5 trading sessions. The uncertainty around immediate outcomes of the demonetization introduced by the PM has contributed in such a highly volatile markets. The major support for Nifty stands at 8076 and 8000, below which we might see a panic amongst all market participants. FIIs have been selling heavily to the tune of Rs. 6674 Cr in the cash segment since last 4 trading sessions. FII selling has created pressure across the market resulting in market nervousness as evident from the India VIX trading above 20. Anything above 17 can be considered to bring in continued nervousness in the markets. Despite heavy FII Selling, Nifty likely to open 100 points above its previous close.
Nifty Futures is expected to open at 8226 as per SGX Nifty at 8:30 am IST, which is 100 points above its previous close of 8126.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have sold shares worth Rs. 2353.82 Cr and DII sold shares worth Rs. 105 Cr. A combined sell of Rs. 2459 Cr. For this expiry, FII and DII together are sellers worth Rs. 2853 Cr.
In Index Options, last trading day, FII have sold 27360 contracts, above its 1 year average of 18280 contracts. Pro have sold 100067 contracts, above its 1 year average of 27670 contracts. Combined there has been a net sell of 127427 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 502504 contracts.
In Index Futures, last trading day, FII have sold 22450 contracts, above its 1 year average of 9706 contracts. Pro have bought 10696 contracts, above its 1 year average of 4903 contracts. Combined there has been a net sell of 11754 contracts above its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 55770 contracts.
International Market Morning Update:
Data as on 15th November 2016. The % change is taken from previous day's close.
International markets seem to regain the strength as S&P Future trades at 2183 near its all time high of 2191 along with German DAX trading at 10730 near its recent high of 10828.
On the Emerging Markets front, contrary to developed economies, Brazil, Malaysia and other peers witness selling pressure as Dollar outflows continue, backed by the increased chances of US rate hike in December.
Today, Japans Nikkei is up by 1.2%.
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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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