Nifty January Series To Start With A Positive Bias, Short Positions Are Being Squared Off

Indian Market Outlook: Nifty January Series is starting on a positive note this morning. The benchmark index ended the December series with an upward bias as it closed above the 8100 mark. After making a low of 7894 early this week, Nifty bounced back convincingly and tested 8100 levels yesterday. The data for the Jan series shows that short positions have been squared off, so the market is likely to trade with a bullish bias. If Nifty stays above 8130 today, then the next target is 8278. If Bank Nifty spot trades above 18167, it can go up by 200 points.

Today being the last session of 2016, markets are likely to remain in a narrow corridor. Top Gainers were Grasim, Yes Bank, BPCl, Eicher Motor and Bosch Ltd.

Nifty Future is opening at 8132 as per SGX Nifty at 8:40 am IST, 15 points above its previous close of 8117.

FII Activity for the year 2016

The net FII's figure in cash market has turned negative amounting to Rs.10739.28 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.662 Cr and DII bought shares worth Rs.957.83 Cr. A combined buy of Rs.295.54 Cr. For this expiry, FII and DII together are net sell worth Rs. 1845 Cr.

In Index Options, last trading day, FII have bought 184509 contracts, above its post Demonetization average of 8577 contracts. Pro have bought 22564 contracts, below its post Demonetization average of 26619 contracts. Combined there has been a net buy of 207073 contracts, above its post Demonetization average of 31662 contracts. For the current expiry, FII and Pro combined are net buyers of 158292 contracts.

In Index Futures, last trading day, FII have bought 5205 contracts, above its post Demonetization average of 3577 contracts. Pro have bought 13669 contracts, above its post Demonetization average of 4177 contracts. Combined there has been a net buy of 18874 contracts above its post Demonetization average of 5200 contracts. For the current expiry, FII and Pro combined are net buyers of 32642 contracts.

International Market Morning Update: Global markets shows a mixed trend with the emerging markets continued to outperform and rally in the past few sessions. S&P futures have remained flat with a negative bias as it has fallen from 2270 to 2240 and is currently trading at 2246. The German Dax has been trading in an narrow range of 100 in the past few sessions.

Index		Country	1D % Change
Developed Markets
America	S AND P 500 INDEX	US	0.07
	DJIA INDEX	US	-0.03
Europe	DAX INDEX	Germany	-0.04
	EURO STOXX 50 INDEX	Eurozone	0.03
	CAC 40 INDEX	Paris	0
	FTSE 100 INDEX	London	0.29
Asia	NIKKEI 225 INDEX	Japan	-1.32
	ASX 200 INDEX	Australia	0.247
Emerging Markets
America	BOVESPA INDEX	Brazil	0.75
Asia	JAKARTA COMPOSITE INDEX	Jakarta	1.788
	HANG SENG INDEX	China	0.17
	SET INDEX	Thailand	0.87
	PHILIPPINE STOCK INDEX	Philippine	-0.08
	KOSPI INDEX	Korea	0.12
	STRAITS TIMES INDEX	Singapore	-0.32

Data as on 29th December 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.