Nifty Might Remain Under Pressure, On Emerging Markets Cues

Indian Market Outlook:

Nifty opened at 8275 on Friday and traded in a small range of 40 points with the high of 8294 and low of 8255 to finally close at 8275. FIIs have turned buyers in the month of December to the tune of Rs. 343.85 Cr. However, Emerging markets are showing an intraday correction as reflected in the Morgan Stanley Emerging Markets Index. We must be cautious in Nifty as it is expected to open gap down today. 8220 would be very crucial support for Nifty today, as sharp buying was seen from these levels. Below 8220, we might see Nifty under pressure.

Nifty Dec Futures is expected to open at 8240 as per SGX Nifty at 8:30 am IST, which is 35 points below its previous close of 8275.

FII Activity for the year 2016

The net FII's figure in cash market has turned marginally positive amounting to Rs. 343.85 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 bought shares worth Rs.201 Cr and DII bought shares worth Rs. 289.6 Cr. A combined buy of Rs. 490 Cr. For this expiry, FII and DII together are net buy worth Rs. 943 Cr.

In Index Options, last trading day, FII have bought 20805 contracts, above its 1 year average of 18280 contracts. Pro have bought 10396 contracts, below its 1 year average of 27670 contracts. Combined there has been a net buy of 31201 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net buyers of 177206 contracts.

In Index Futures, last trading day, FII have bought 3365 contracts, below its 1 year average of 9706 contracts. Pro have bought 2006 contracts, below its 1 year average of 4903 contracts. Combined there has been a net buy of 5371 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net buyers of 32790 contracts.

International Market Morning Update:

Today morning, Nikkei has made fresh 1 year high of 19280 and is trading at 19142, a selling of 180 points intraday. The Emerging market Index is also showing signs of an intraday correction and is trading 0.54% below its yesterday's close.

While other International markets continued the buying spree with S&P 500 making new all time high of 2270 today morning. Currently its trading at 2258.

Post ECB policy announcement last week, German DAX, a good indicator of the European markets, holds pretty strong with making a new high of 11238 for the year 2016. The next target for DAX on the upside is 11415 as per Dynamic Levels.

Data as on 9th December 2016. The % change is taken from previous day's close.

List of Top Gainers and Losers on 9th December 2016

Dynamic Sector Performance - 9th December 2016

Stocks near Support

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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.