Indian Market Outlook: Indian benchmark Index Nifty saw an upside rally of 103 points from a low of 8167 to make a high of 8230 yesterday to finally close at 8253. FII have been selling relentlessly in the month of November to the tune of 19981 Cr in cash market. This is the biggest single month selling for the year 2016. Inspite of such heavy selling, Nifty has managed to rise 350 points from its November's low of 7921 to 8270. However, Nifty has a major resistance at 8287 which is its 2 week high. If 8287 is breached, the next target on the upside would be 8614.
The OPEC meeting in Vienna yesterday resulted in some relief to the OIL prices as OPEC members signaled an output cut of 1.2 million barrels a day. The crude prices have surged 8.29% in a single day yesterday.
Nifty Dec Futures is expected to open at 8263 as per SGX Nifty at 8:30 am IST, which is 10 points above its previous close of 8253.
FII Activity for the year 2016
The figures here clearly show that FII have been selling heavily to the tune of Rs. 19981.5 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.434.42 Cr and DII bought shares worth Rs. 677 Cr. A combined buy of Rs. 242.26 Cr. For this expiry, FII and DII together are buyers worth Rs. 483.51 Cr.
In Index Options, last trading day, FII have bought 8880 contracts, below its 1 year average of 18280 contracts. Pro have bought 52565 contracts, above its 1 year average of 27670 contracts. Combined there has been a net bought of 61445 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net buyers of 115872 contracts.
In Index Futures, last trading day, FII have bought 10664 contracts, above its 1 year average of 9706 contracts. Pro have sold 1530 contracts, below its 1 year average of 4903 contracts. Combined there has been a net buy of 9134 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 2663 contracts.
International Market Morning Update:
International markets remain in the uptrend since last few weeks. S&P Futures is trading above 2200 and made a recent high of 2213.75 yesterday after OPEC came out with the decision of Oil Production Cuts. German Dax continues to trade in a range of 10800 and 10500.
In today's trading Japan's Nikkei is trading 2.39% above its previous close. Other Asian peers like Thailand, Malaysia and Indonesia are trading positive today morning.
Data as on 30th 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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