Indian Market Outlook: India's Benchmark Nifty opened gap up yesterday at 8515, after it closed at 8479 the previous day. The Index continued to trade with confidence and went on to make a high of 8614 and absorbed most of the negative news that plunged the markets to levels of 8076 the day before. However the Nifty is down by 130 points yet again today after bullish trading session yesterday. FII's were net sellers to the tune of Rs. 2000 crores which underlines their negative position in the market. So caution is advised as Nifty's resistance levels are between 8585 to 8600.
Nifty Futures is expected to open at 8410 as per SGX Nifty at 8:30 am IST, which is 130 points below its previous close of 8548.
Open Interest Index F&O and Cash Segment Activity:
IIn cash segment, last trading day, FII have sold shares worth Rs. 733.49 Cr and DII bought shares worth Rs. 639.20 Cr. A combined sell of Rs. 94.30 Cr. For this expiry, FII and DII together are buyers worth Rs. 1034 Cr.
In Index Options, last trading day, FII have bought 41634 contracts, above its 1 year average of 18280 contracts. Pro have bought 14731 contracts, below its 1 year average of 27670 contracts. Combined there has been a net buy of 56365 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 118414 contracts.
In Index Futures, last trading day, FII have bought 2850 contracts, below its 1 year average of 9706 contracts. Pro have bought 8767 contracts, above its 1 year average of 4903 contracts. Combined there has been a net buy of 11617 contracts above its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 31368 contracts.
International Market Morning Update:
International market are still in buy trend however rise in the last two trading sessions being very sharp caution is advised. S&P futures are hitting the resistance of 2180-2192. The German Dax too traded between 10794 and 10570 before recovering back to 10669. The US 3 month treasury has given a breakout of 0.42 and is trading at 0.47 which is indicative of an imminent US rate hike.
Today, Japans Nikkei is up by 5%.
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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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