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Indian Market Outlook:
India’s benchmark index Nifty closed at 8349 on Friday, 86 points down from Thursday’s close of 8435.The Index displayed weakness on Friday on the backdrop of poor Quarterly number from Axis Bank and stock price of Axis Bank was down by 5%.
Nifty index has given a down side breakout of its range low of 8373. Bank Nifty also shows weakness and closed at 18821, 300 points down from its last day’s close. The next support level of Bank Nifty is 18515 if Bank Nifty breaks 18781 levels. Selling was also seen in the cash segment, the Small Cap index too corrected by 120 points from day high on Friday.
We expect market to trade with negative bias as Donald Trump has given a call to “Buy American and hire American”. Nifty is facing resistance at 8460. We advice investors to book profit in buy positions and to remain cautious to build any fresh buying in the market.
Important results to watch out for today are Hind Unilever and Asian Paints.
Nifty Future is opening at 8423 as per SGX Nifty at 8:50 am IST,almost 16 points below its previous close of 8439.
FII Activity for the year 2016-17
| Month | FII Activity |
| January | -14356.01 |
| February | -12513.1 |
| March | 24201.51 |
| April | 3056.28 |
| May | -186.61 |
| June | 3957.95 |
| July | 10121.56 |
| August | 8778.01 |
| September | 3329.62 |
| October | -5355.76 |
| November | -19981.5 |
| December | -11325.03 |
| January 2017 | -3052.41 |
The net FII's figure in cash market continues to be negative in Jan 2017, amounting to Rs. 3052.41 Cr, after heavy Nov & Dec Selling figure, which was Rs. 19981.5 Cr and 11325.03 Cr respectively.
Open Interest Index F&O and Cash Segment Activity
In Cash segment, last trading day, FII have sold shares worth Rs. 26.30 Cr and DII sold shares worth Rs. 175.28 Cr. A combined sell of Rs.201.60 Cr. For this expiry, FII and DII together are net sell worth Rs. 360.10 Cr.
In Index Options, last trading day, FII have sold more than average for the first time after 15 trading sessions in this expiry for 40164 contracts. Pro have also sold 77671 contracts on last day. Combined there has been a net seller of 117835 contracts. The option data shows that market may fall.
In Index Futures, last trading day, FII have bought 6096 contracts after last two days of more than average selling. Pro have bought 2284 contracts. Combined there has been a net buy of 8380 contracts.
International Market Morning Update:
International Market remain flat on Friday as market discounted President Trump’s policy which primarily focuses on on the upliftment of the American economy.
Donald Trump vowed drung his speech on Friday that it would be “America first."
Trump reaffirmed his believe that he has made during his campaign to "Make America Great again."
However market did not showed any huge positive reaction to his speech and closed neutral at 2266.
Data as on 20th January 2017. 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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