Indian Market Outlook:
Nifty witnessed a second round of profit booking from 8605 levels which was its previous day high and fell to levels of 8510 giving a correction of 95 points. Similar correction was witnessed on Friday and this being second consecutive day of correction, it indicates 8605 area is turning out to be a strong zone of resistance for Nifty. However the uptrend in Nifty is intact as the cash market along with derivative data suggests buying at current levels with possible support of 8450 to 8470. Sentiments turned negative yesterday as there was a delay in tabling of the GST bill.
The top 5 gainers for Monday were Bajaj Auto, Kotak Bank, Sun Pharma, Infratel, Axis Bank.
Nifty is expected to open at 8538 as per SGX Nifty at 8:35, which is 27 points gap up from yesterday’s close of 8511.
Open Interest Futures & Options Index Update
On 18th of July, FII & Pro have bought 986325 shares combined which is above the average of 705075.
The total for the July expiry from the 1st July to 18th July is 4473075 shares, which indicates that big players are building long positions in market.
On 18th of July, FII & Pro have sold 1218075 shares combined, below average of 2920650, which is the fourth day of selling.
The total for the July expiry from the 1st July to 18th July is 3594375 which indicates that a Buy position has been created for the clearing.
FII & DII Cash Buy/Sell Activity
Last trading day, FII have bought shares worth Rs. 599 Cr and DII have sold shares worth Rs. 439 Cr. Combined, net buying worth Rs. 160 cr was seen.
Since 1st July 2016, FII have bought Rs.4780 crores worth shares where as DII have sold shares worth Rs.3329 crores in the cash segment.FII and DII combined have a net buy worth Rs. 1451 Cr since 1st July 2016.
The combine FII and Pro have seen a continued increase in long position in Index future and a decline of short position in index options. In the cash segment FII and DII combined are net buyers of Rs. 1451 Cr since 1st July 2016. Nifty future has corrected from 8600 levels for the second time acting as a strong resistance.
International Market Outlook: International Markets have maintained their upward bias, though normal profit booking was witnessed as S&P Futures have corrected from 2164 levels. A range formation is being observed where support is at 2150 and resistance is between 2165 – 2169 .Yesterday European indices after a positive start closed mildly in the red. Today Asian markets are trading positively with Nikkie and Philippines in the green.
Stocks to watch out for Tuesday, 19th July, 2016
|Sectoral Index Performance for last trading day and last 1 week|
|Symbol||1D (%)||1W (%)|
|NIFTY AUTO INDEX||0.23||1.14|
|NIFTY IT INDEX||0.17||-2.91|
|NIFTY FMCG INDEX||-0.26||-0.11/td>|
|NIFTY FINANCE INDEX||-0.34||1.08|
|NIFTY PHARMA INDEX||-0.44||-1.06|
|NIFTY ENERGY INDEX||-1.13||-0.66|
|NIFTY REALTY INDEX||-1.22||-3.67|
|NIFTY METAL INDEX||-1.25||1.61|
|NIFTY MEDIA INDEX||-1.69||-0.99|
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.