Indian Market Outlook: Indian benchmark Index Nifty remained in a bear grip and was unable to cross 8560 in trading yesterday. Nifty closed near day low of 8505. The big area of concern was the broader market which saw relentless selling throughout the day with NSE Small cap going down by nearly 3%. However, it is at the critical 6250 support. The next few days will be important for the markets as short term trend change level for small cap is 6250. If market remains below it the trend will change to sell.
FII selling in cash and F&O segment is putting pressure on the markets. This selling is continuing for past few weeks which has now started effecting broader markets. GST rate slabs have been announced yesterday and Automobiles companies, have been kept in higher slab of 28%, can come for some selling in trading today.
Nifty Futures is expected to open at 8494 as per SGX Nifty at 8:30 am IST, which is 25 points below its previous close of 8519.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have sold shares worth Rs. 706.77 Cr and DII bought shares worth Rs. 535 Cr. A combined sell of Rs. 172 Cr. For this expiry, FII and DII together are sellers worth Rs. 111 Cr.
In Index Options, last trading day, FII have sold 23409 contracts, above its 1 year average of 18280 contracts. Pro have sold 9496 contracts, below its 1 year average of 27670 contracts. Combined there has been a net sell of 32904 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 95140 contracts.
In Index Futures, last trading day, FII have sold 6315 contracts, below its 1 year average of 9706 contracts. Pro have bought 6026 contracts, above its 1 year average of 4903 contracts. Combined there has been a net sell of 289 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 41745 contracts.
International Market Morning Update:
Data as on 3rd November 2016. The % change is taken from previous day's close.
International markets are seeing a constant move on the downside with German Dax down by 0.5% in trading yesterday. US Index S&P Futures closed below 2090 and the next target is 2065. The impending US elections is a major event markets would keenly watch for.
The US Presidential election's results will be out on 9 November and there can be big volatility on either direction on account of this event.
In Asian market, Japan's Nikkei resumed trading after a holiday and is down by a percent.
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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