Indian Market Outlook: Indian benchmark Index Nifty Futures, opened at 8426 and after making a high of 8469 Nifty fell sharply by 62 points to make a low of 8406 yesterday. Nifty Futures finally closed at 8430. Nifty holds 8400 in a narrow trading range over past five trading sessions. Indian benchmark index Nifty saw profit booking from range high of 8460 to give back most of the gains to finally close flat at 8430, a gain of 17 points. The past five trading sessions have seen a range of 85 points which suggests that prices might give a breakout of the upper range or lower range of 8460 and 8375 respectively soon. The triggers could be the announcement of Trump policies and Pre or post budget rally. Banking stocks have been outperforming and the Bank Nifty Index after making a high of 19276 corrected by 150 points and this has been second consecutive day that Bank Nifty has corrected by 150 points or more suggesting some profit booking is on the cards. FII have returned to the cash market and have turned buyers for second consecutive day. This is a positive sign for the bulls as they are already buyers in Future and option segment.
Nifty Future is opening at 8426 as per SGX Nifty at 8:50 am IST, 4 points below its previous close of 8430.
FII Activity for the year 2016-17
| Month | FII Activity |
| January | -14356.01 |
| February | -12513.1 |
| March | 24201.51 |
| April | 3056.28 |
| May | -186.61 |
| June | 3957.95 |
| July | 10121.56 |
| August | 8778.01 |
| September | 3329.62 |
| October | -5355.76 |
| November | -19981.5 |
| December | -11325.03 |
| January 2017 | -2893.81 |
The net FII's figure in cash market continues to be negative in Jan 2017, amounting to Rs. 2893.81 Cr, after heavy Nov & Dec Selling figure, which was Rs. 19981.5 Cr and 11325.03 Cr respectively.
Open Interest Index F&O and Cash Segment Activity
In Cash segment, last trading day, FII have bought shares worth Rs.319 Cr and DII bought shares worth Rs.245 Cr. A combined buy of Rs.564 Cr. For this expiry, FII and DII together are net sell worth Rs. 451 Cr.
In Index Options, last trading day, FII have bought 2078 contracts, below its post Demonetization average of 8577 contracts. Pro have sold 9359 contracts, below its post Demonetization average of 26619 contracts. Combined there has been a net sell of 7281 contracts, below its post Demonetization average of 31662 contracts. For the current expiry, FII and Pro combined are net buyers of 246153 contracts.
In Index Futures, last trading day, FII have sold 13471 contracts, above its post Demonetization average of 3577 contracts. Pro have bought 9696 contracts, above its post Demonetization average of 4177 contracts. Combined there has been a net sell of 3775 contracts below its post Demonetization average of 5200 contracts. For the current expiry, FII and Pro combined are net buyers of 23026 contracts.
International Market Morning Update:
International markets are in a broad range with S&P Futures trading in a 15 points range over past few trading sessions.
German Dax is trading in a range of 150 points. The narrow range is a pointer of the fact that markets are awaiting clarity on Trump's economic policies before the next directional move can take place.
In today's trading in Asia, Japan's Nikkei is trading flat.
The Morgan Stanely Emerging markets Index after retesting its recent high of 900 is trading in a small range.
Data as on 18th January 2017. The % change is taken from previous day's close.
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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