Indian Market Outlook: India's Benchmark Nifty is opening 100 points gap down today. FII's have been heavy sellers in both cash and F&O segment. This is the result of Dollar outflows from the country because of the increased probability of a December Rate hike by the US FED. The chances of December rate hike has increased as confirmed by the upside breakout in the 3 month US treasury yield. Similar phenomena occurred during FED's last rate hike in Nov-Dec 2015, where Nifty fell by 500 points. The big support for Nifty stands at 8076, the panic low of last week when the US presidential election results were announced. Banking stocks continue to outperform their peers globally which makes 19500 a major support for Bank Nifty and an important resistance at 20300.
Nifty Futures is expected to open at 8235 as per SGX Nifty at 8:30 am IST, which is 100 points below its previous close of 8335.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have sold shares worth Rs. 1493 Cr and DII bought shares worth Rs. 64.72 Cr. A combined sell of Rs. 1429 Cr. For this expiry, FII and DII together are sellers worth Rs. 394 Cr.
In Index Options, last trading day, FII have sold 130835 contracts, above its 1 year average of 18280 contracts. Pro have sold 125828 contracts, above its 1 year average of 27670 contracts. Combined there has been a net sell of 256663 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 375077 contracts.
In Index Futures, last trading day, FII have sold 17201 contracts, above its 1 year average of 9706 contracts. Pro have bought 4553 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 12648 contracts above its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 44016 contracts.
International Market Morning Update:
Data as on 11th November 2016. The % change is taken from previous day's close.
The International markets are polarized with both S&P and DAX showing strength. S&P Futures is trading at 2163.50, a striking distance from its all time high of 2192. German DAX too is trading near its 10 month high of 10826.
On the Emerging Markets front, the Indices across all emerging economies remain under pressure as the US Dollar outflow continues. Asian peers like Malaysia, Jakarta, Thailand and Indonesia along with Brazil and Hangseng are all under selling pressure.
Today, Japans Nikkei is down by 0.15%.
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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