Indian Market Outlook: Friday, Indian benchmark Index Nifty saw a sharp upside rally of 132 points from a low of 8006 to make a high of 8138 and finally closed at 8118. The fears in the market around the demonetization and its negative effects on economy seemed to subside a little as the broader Indices like Small Cap and Bank Nifty continued to outperform Nifty. However, RBI's current move to curb excess liquidity with the banks may put some pressure on the markets especially the banking shares, which may get the worst hit. RBI in a circular to all scheduled bank has ordered them to maintain excess reserves in form of an incremental CRR of 100% on the increase in NDTL (Net Demand and Time Liabilities) between 16 Sep and 11 Nov, 2016. However, RBI also mentioned that the move was a temporary one and will be reviewed on Dec 9 2016.
Major Support for Nifty Futures stands at 7962, for December Series. Bank Nifty has its major support at 18200 and 17963. However, if these levels are breached on the downside the next target for Bank Index is 17350.
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 risen up by 300 points from low of 5408. However, FII have ended the month of November with a net selling in the cash market worth Rs. 17023 Cr, the highest single month sell figures for the year 2016.
Nifty Dec Futures is expected to open at 8080 as per SGX Nifty at 8:30 am IST, which is 38 points below its previous close of 8118.
FII Activity for the year 2016
The figures here clearly show that FII have been selling heavily to the tune of Rs. 17396 Cr in the month of November, the largest 1 month selling for the year 2016.
Open Interest Index F&O and Cash Segment Activity:
In cash segment, last trading day, FII have sold shares worth Rs.372 Cr and DII bought shares worth Rs. 998 Cr. A combined buy of Rs. 625 Cr. For this expiry, FII and DII together are sellers worth Rs. 1936.20 Cr.
In Index Options, last trading day, FII have sold 12627 contracts, below its 1 year average of 18280 contracts. Pro have bought 51948 contracts, above its 1 year average of 27670 contracts. Combined there has been a net buy of 39321 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 172101 contracts.
In Index Futures, last trading day, FII have bought 10719 contracts, above its 1 year average of 9706 contracts. Pro have sold 17105 contracts, above its 1 year average of 4903 contracts. Combined there has been a net sell of 6386 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 84197 contracts.
International Market Morning Update: International markets remain in the uptrend. S&P Futures is trading firmly above 2200 and made a high of 2211. German Dax continues its trading in a range of 10650-10800.
In today's trading Japan's Nikkei is trading down by 0.83%. Other Asian peers like Philippines and Indonesia too are trading in the red today.
Markets await policy disclosure after Trump takes oath on January 20th 2017. Major event going forward is the US rate hike likely to happen in the December's FED policy meet.
Data as on 25th November 2016. The % change is taken from previous day'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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