Indian Market Outlook: Indian markets like other global markets rose up on positive news coming from US Election front yesterday. Market's favorite Hillary Clinton's chances of winning the presidential elections have improved considerably. Nifty Index has taken support of 8430 and closed at 8510. Major resistance would be faced at 8560 which, if crossed, would head to target of 8620. The positive sentiment is expected to continue till the new US President is announced. Yesterday, Banking as well as IT stocks were gainers and the broad market was also positive with NSE Small Cap showing strong gains and closing above 6200 levels. ICICI bank came out with its quarterly numbers after markets closed yesterday. The numbers were disappointing and this stock can be under pressure in today's trading as well.
Nifty Futures is expected to open at 8537 as per SGX Nifty at 8:30 am IST, which is 30 points above its previous close of 8507.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have bought shares worth Rs. 311.18 Cr and DII bought shares worth Rs. 779.90 Cr. A combined buy of Rs. 1091 Cr. For this expiry, FII and DII together are buyers worth Rs. 1727 Cr.
In Index Options, last trading day, FII have sold 1804 contracts, below its 1 year average of 18280 contracts. Pro have bought 16622 contracts, below its 1 year average of 27670 contracts. Combined there has been a net buy of 14818 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 168527 contracts.
In Index Futures, last trading day, FII have sold 3749 contracts, below its 1 year average of 9706 contracts. Pro have bought 1082 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 2667 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 52522 contracts.
International Market Morning Update:
Data as on 7th November 2016. The % change is taken from previous day's close.
International markets have gained by 1.5-2% on an average in trading yesterday with S&P Futures jumping by 50 points to make a high of 2130. Increased chances of Clinton's victory have brought cheers along with an upside breakout in US 3 month treasury bills which makes December rate hike a big possibility. In such scenario, as seen in 2015, there can be a selloff in risky assets which could happen after the results of the US Presidential Elections are declared.
German Dax went up by 200 points to close at 10460. Today, in Asia, the markets are flat as the polling day in US will start tonight and results are expected by tomorrow.
Today, in Asia, Japan's Nikkei is trading flat.
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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