Indian Market Outlook: The Indian Benchmark Index Nifty fell 92 points from its day high of 8066 and made a low of 7975. Volumes have shrinked already as the New Year holidays near in. FII continue to sell creating pressure in the Indian Bourses. The MSCI Emerging Markets Index too has given a breakout below its 4 week low and is clearly indicating a weakness in all emerging markets. Small Cap Index has also given a breakout below its 3 week low of 5670 with the next downside target at 5408. Nifty Futures, however, has the next downside target at 7921, which if breached, Nifty can test 7722 level, as per Dynamic Levels.
All the Dynamic sectors ended negative yesterday with paper and Defense sectors being the top losers.
FII has remained net sellers in the cash market, they have sold 6280 crs in the month of December. This is a significant figure compared to the current low volume in the present scenario. Thus we might see further selling in Nifty.
Nifty Future is opening at 7975 as per SGX Nifty at 8:45 am IST, 29 points below its previous close of 8004.
FII Activity for the year 2016
The net FII's figure in cash market has turned negative amounting to Rs.-6280.07 Cr, after heavy Nov Selling figure, which was Rs. 19981.5 Cr
Open Interest Index F&O and Cash Segment Activity
In Cash segment, last trading day, FII have sold shares worth Rs.614 Cr and DII bought shares worth Rs.319.80 Cr. A combined sell of Rs. 295 Cr. For this expiry, FII and DII together are net sell worth Rs. 3351 Cr.
In Index Options, last trading day, FII have sold 7184 contracts, below its post Demonetization average of 8577 contracts. Pro have sold 40468 contracts, above its post Demonetization average of 26619 contracts. Combined there has been a net sell of 47652 contracts, above its post Demonetization average of 31662 contracts. For the current expiry, FII and Pro combined are net sellers of 100916 contracts.
In Index Futures, last trading day, FII have sold 13873 contracts, above its post Demonetization average of 3577 contracts. Pro have bought 4091 contracts, below its post Demonetization average of 4177 contracts. Combined there has been a net sell of 9782 contracts above its post Demonetization average of 5200 contracts. For the current expiry, FII and Pro combined are net buyers of 17560 contracts.
International Market Morning Update:
The MSCI Emerging market Index fell more than 1% yesterday, displaying the prevailing weakness in the Emerging markets. Its trading negative today morning as well.
The American Index, S&P 500 is trading in a narrow range, and is currently trading at 2259.
The German Dax after displaying extraordinary strength continued to traded flat yesterday. As the New Year and Christmas Holiday season has already started, these markets are expected to stay range bound this week.
Data as on 22nd December 2016. The % change is taken from previous day's close.
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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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