Indian Market Outlook: The Indian Benchmark Index Nifty saw relentless selling by FIIs in last 5 trading sessions where shares worth Rs. 8632 Cr have been sold in the cash segment. After a gap up opening yesterday, market fell and could not sustain above 8200 levels. This caused panic and markets fell further by 50 points in the last hour of trading yesterday. Nifty fell by 130 points from its high of 8225 to make a low of 8095 to finally close at 8100 yesterday. Broader markets were weak with Bank Nifty selling off almost 1200 points from its recent high of 20300, made on Nov 11. NSE Small Cap Index too is showing a downward bias. The sentiments have turned negative and FII selling needs to be monitored more closely to see if any value buying starts to take place in the markets.
Nifty Futures is expected to open at 8123 as per SGX Nifty at 8:30 am IST, which is 23 points above its previous close of 8100.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have sold shares worth Rs. 1957 Cr and DII bought shares worth Rs. 2344 Cr. A combined buy of Rs. 387.30 Cr. For this expiry, FII and DII together are sellers worth Rs. 2465 Cr.
In Index Options, last trading day, FII have sold 10861 contracts, below its 1 year average of 18280 contracts. Pro have bought 13783 contracts, below its 1 year average of 27670 contracts. Combined there has been a net buy of 2922 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 499582 contracts.
In Index Futures, last trading day, FII have bought 1614 contracts, below its 1 year average of 9706 contracts. Pro have sold 5482 contracts, above its 1 year average of 4903 contracts. Combined there has been a net sell of 3868 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 59638 contracts.
International Market Morning Update:
International markets have started forming a trading range before the Trump's presidency policies are tabled clearly. S&P Futures corrected by 15 points from 2185 to 2170. German Dax also corrected by 90 points. S&P 500 Futures might stay in a range of 2190 on the upside and 2150 on the downside.
Among the Emerging Markets, Asian Indices like Malaysia, Indonesia and other peers show some relief as they trade in green for the day.
Today, Japan's Nikkei is trading flat.
Data as on 16th 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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