Indian Market Outlook: Indian markets are showing signs of panic. A 300 point gap down opening is seen on Nifty as Prime Minister Narendra Modi's surgical strike on black money will send ripples throughout the economy drastically reducing liquidity. Mr. Prime Minister declared that Rs.500 and Rs.1000 notes are banned which will hit liquidity and market sentiments. Nifty has support at 8200 but a dual shock of Mr. PM's action against the black money coupled with Donald Trump leading US presidential elections can keep Nifty going in the same direction and possibility of testing 8000 can become a reality. Bank Nifty and Small cap can see a fall between 3-6 % if Trump wins the Presidency. Markets are expected to be volatile as news keeps flowing in.
Nifty Futures is expected to open at 8264 as per SGX Nifty at 8:30 am IST, which is 300 points below its previous close of 8564.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have bought shares worth Rs. 86.66 Cr and DII bought shares worth Rs. 294.10 Cr. A combined buy of Rs. 380.70 Cr. For this expiry, FII and DII together are buyers worth Rs. 2107 Cr.
In Index Options, last trading day, FII have bought 6169 contracts, below its 1 year average of 18280 contracts. Pro have bought 14347 contracts, below its 1 year average of 27670 contracts. Combined there has been a net buy of 20516 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 148011 contracts.
In Index Futures, last trading day, FII have sold 4573 contracts, below its 1 year average of 9706 contracts. Pro have bought 906 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 3667 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 56189 contracts.
International Market Morning Update:
Data as on 8th November 2016. The % change is taken from previous day's close.
International markets, after a strong start gave a positive closing yesterday but with morning leads on US Elections in favor of Trump, there is a possibility that S&P Futures can test 2000 levels if 2065 is breached.
German Dax is indicating a 3% down opening.
Today, in Asia, Japan's Nikkei is trading 4% down.
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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