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Indian Market Outlook: Indian benchmark Index Nifty yesterday took support of 8370 levels which was the low of its past two trading sessions.Banking stocks led by HDFC Bank, saw broad based buying throughout the day. If Nifty is able to sustain above 8450. the important level to watch out in Nifty is 8540 on the upside.
The open interest data in the January clearing has shown buying by both FII and Pro. The important levels for Bank Nifty on the upside being 19150 and if that level is crossed, the next target being 19430.
Reliance Industries came out with its quarterly results which was below market expectations and the stock can remain under selling pressure.
Nifty Future is opening at 8444 as per SGX Nifty at 8:50 am IST, 9 points above its previous close of 8435.
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 | -2877.55 |
The net FII's figure in cash market continues to be negative in Jan 2017, amounting to Rs. 2877.55 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 sold shares worth Rs.347 Cr and DII bought shares worth Rs.203 Cr. A combined sell of Rs.143.8 Cr. For this expiry, FII and DII together are net sell worth Rs. 361 Cr.
In Index Options, last trading day, FII have bought 20804 contracts, above its post Demonetization average of 8577 contracts. Pro have bought 15889 contracts, below its post Demonetization average of 26619 contracts. Combined there has been a net buy of 36693 contracts, above its post Demonetization average of 31662 contracts. For the current expiry, FII and Pro combined are net buyers of 237328 contracts.
In Index Futures, last trading day, FII have sold 341 contracts, above its post Demonetization average of 3577 contracts. Pro have sold 948 contracts, below its post Demonetization average of 4177 contracts. Combined there has been a net sell of 1289 contracts below its post Demonetization average of 5200 contracts. For the current expiry, FII and Pro combined are net buyers of 30212 contracts.
International Market Morning Update:
International markets were in a range, with US cash markets closed due to holiday and S&P futures was traded in a range of 5-7 points yesterday.
The German Dax was down by 60 points, but is still in a trading range. Asian markets are a mixed bag with Japans Nikkei trading flat with a downward bias.
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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