Indian Market Outlook: Indian benchmark Index Nifty, after a closing below its monthly breakout level of 8506 last week, is likely to witness a pullback on the upside as positive news on US presidential elections came in today morning. Hillary Clinton, US Democratic Presidential Candidate and Wall Street favorite, has been given a clean chit in an email case which can lead to big gains in all global indices. India is expected to be a major gainer. For Nifty Futures, 8520 level is very crucial, if market crosses it then bulls will be in control. FII have been net sellers in the cash and F&O segment in the past few trading sessions, now it is important to see if they change their view in next few trading sessions. NSE Small Cap Index saw profit booking to close below 6200, below its two week low.
Nifty Futures is expected to open at 8512 as per SGX Nifty at 8:10 am IST, which is 57 points above its previous close of 8455.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have sold shares worth Rs. 343.30 Cr and DII bought shares worth Rs. 1090 Cr. A combined buy of Rs. 746.60 Cr. For this expiry, FII and DII together are buyers worth Rs. 636 Cr.
In Index Options, last trading day, FII have sold 58185 contracts, above its 1 year average of 18280 contracts. Pro have sold 30020 contracts, above its 1 year average of 27670 contracts. Combined there has been a net sell of 88205 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 183345 contracts.
In Index Futures, last trading day, FII have sold 15379 contracts, above its 1 year average of 9706 contracts. Pro have bought 7269 contracts, above its 1 year average of 4903 contracts. Combined there has been a net sell of 8110 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 49855 contracts.
International Market Morning Update:
Data as on 4th November 2016. The % change is taken from previous day's close.
International markets are expected to have a big positive day today as US presidential candidate Hillary Clinton is consolidating her lead with two days to go for the US elections. Her victory might see a 2-5% rally in all global markets.
S&P Futures is trading 1% above its previous close. After falling for 9 consecutive days, a pullback rally till 2140-2160 can be on the cards.
German Dax was down the previous week and is Likely to follow US Indices on the upsides. German Dax can be expected to go up by 1% in trading today.
Today, Asian markets are trading with a positive bias with Japan's Nikkei up by 1%.
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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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