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Indian Market Outlook: Indian benchmark Index Nifty Futures, opened at 8434 and after making a high of 8448 fell sharply by 56 points to make a low of 8392 yesterday. Nifty Futures finally closed at 8403. Nifty was stuck in a trading range with no major triggers moving the markets. The past few days have seen sideways movement and FII and Pro have been buyers in Index options for the January series which should support the markets at lower levels and this should support Nifty at 8350-8370. Markets are expected to remain in a range of 8450 on the upside and 8375 on the downside. Banking stocks were mildly positive after a positive opening with Bank nifty making a high of 19200 before a pullback was witnessed. Yesterday was the first time in January, when the Bank Nifty Index corrected by more than 200 points from its recent highs. FII were buyers for the first time in January, in the cash markets, but the buying was offset by DII selling yesterday. If DII start to book profits, the upside resistance of 8450 and 8520 might be difficult to breach and sustain. The upcoming Trump Policies due on 20th of this month would be the next big trigger for the global markets.
Nifty Future is opening at 8420 as per SGX Nifty at 8:50 am IST,almost 17 points above its previous close of 8403.
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 | -3212.95 |
The net FII's figure in cash market continues to be negative in Jan 2017, amounting to Rs. 3212.95 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 bought shares worth Rs.142 Cr and DII sold shares worth Rs.607 Cr. A combined sell of Rs.465 Cr. For this expiry, FII and DII together are net sell worth Rs. 970 Cr.
In Index Options, last trading day, FII have bought 2718 contracts, below its post Demonetization average of 8577 contracts. Pro have sold 23305 contracts, below its post Demonetization average of 26619 contracts. Combined there has been a net sell of 20587 contracts, below its post Demonetization average of 31662 contracts. For the current expiry, FII and Pro combined are net buyers of 253434 contracts.
In Index Futures, last trading day, FII have sold 2113 contracts, below its post Demonetization average of 3577 contracts. Pro have sold 9 contracts, below its post Demonetization average of 4177 contracts. Combined there has been a net sell of 2122 contracts below its post Demonetization average of 5200 contracts. For the current expiry, FII and Pro combined are net buyers of 26801 contracts.
International Market Morning Update:
International markets are stuck in a trading range with S&P Futures falling to 2058 before recovering to trade at 2064 near all time high levels.
German Dax after falling by over 100 points recovered to close flat for the day yesterday.
Asian markets too are trading flat today.
The Morgan Stanely Emerging markets Index still holds strong and is trading at 898.69 near its recent high of 900.44.
Data as on 17th 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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