Indian Market Outlook: The Indian Benchmark Index Nifty showed profit booking after touching 8100 and closed at 8034 a day before expiry. Market are expected to remain volatile today because of F&O expiry. Nifty is expected to take support of its recent low of 7896. As 8148 is the one week high of Nifty future, it may act as a major resistance with the next target as 8264.
Bank nifty has major support at 17606 and resistance at 18027 above which next target is 18274.
Nifty Future is opening at 8028 as per SGX Nifty at 8:40 am IST, 6 points below its previous close of 8034.
FII Activity for the year 2016
The net FII's figure in cash market has turned negative amounting to Rs.10076.99 Cr, after heavy Nov Selling figure, which was Rs. 19981.5 Cr.
Open Interest Index F&O and Cash Segment Activity
In cash segment, last trading day, FII have sold shares worth Rs.527 Cr and DII bought shares worth Rs.827.84 Cr. A combined buy of Rs.297.78 Cr. For this expiry, FII and DII together are net sell worth Rs. 2141 Cr.
In Index Options, last trading day, FII have sold 18833 contracts, above its post Demonetization average of 8577 contracts. Pro have bought 28011 contracts, above its post Demonetization average of 26619 contracts. Combined there has been a net buy of 9178 contracts, below its post Demonetization average of 31662 contracts. For the current expiry, FII and Pro combined are net sellers of 48781 contracts.
In Index Futures, last trading day, FII have bought 26554 contracts, above its post Demonetization average of 3577 contracts. Pro have sold 18555 contracts, above its post Demonetization average of 4177 contracts. Combined there has been a net buy of 7999 contracts above its post Demonetization average of 5200 contracts. For the current expiry, FII and Pro combined are net buyers of 13768 contracts.
International Market Morning Update:
International markets were closed due to the holiday season yesterday. Today Nikkei has opened at 19450 which is just 30 points above its previous day close of 19427.
S&P 500 showed profit booking yesterday, the index took resistance of its range high 2270 and closed near two week low of 2248. Reason for profit booking was mainly due to weak pending home sales which was expected to do better, but surprised economist with weak data on the same.
Crude oil took resistance of its range high of 54.51 and closed at 53.66.
European Markets continued its lack lusture movement. German benchmark Index DAX took resistance of its range high of 11487 and closed at 11446.
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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