Strong Closing In Nifty, Might Retest Aug 15 High

Indian Market Outlook:

Nifty has witnessed sharp buying in the last 30 minutes of trade, yesterday after making a low of 8485, below its 5 days low. The up move holds significance as there was profit booking seen in the past few days. Markets are awaiting keenly with optimism and nervousness for the outcome of GST bill in Rajya Sabha. Wipro announced results yesterday after market hours which missed estimates for current quarter and have downgraded further earnings. Nifty is expected to be positive today on the back drop of strong buying by FII over the past few trading sessions immediate resistance being at 8605.

The top 5 gainers for Monday were BPCL, IDEA, ICICIBANK, POWERGRID and LUPIN.

Nifty is expected to open at 8568 as per SGX Nifty at 8:15 am IST, which is 15 points gap up from yesterday’s close of 8511.

Open Interest Futures & Options Index Update

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On 19th of July, FII & Pro have bought 650700 shares combined which is almost below the average of 705075.

The total for the July expiry from the 1st July to 19th July is 5123775 shares, which indicates that big players are building long positions in market.

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On 19th of July, FII & Pro have sold 89675 shares combined, below average of 2920650, which is the fifth day of selling.

The total for the July expiry from the 1st July to 19th July is 3506700 which indicates that a Buy position has been created for the clearing.

FII & DII Cash Buy/Sell Activity

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Last trading day, FII have bought shares worth Rs. 549 Cr and DII have sold shares worth Rs. 377 Cr. Combined, net buying worth Rs. 171 cr was seen.

Since 1st July 2016, FII have bought Rs.5329 crores worth shares where as DII have sold shares worth Rs.3706 crores in the cash segment.

FII and DII combined have a net buy worth Rs. 1623 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. 1623 Cr since 1st July 2016. Nifty future has corrected from 8600 levels for the third time acting as a strong resistance.

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International Market Outlook: International markets have moved into a trading zone where S&P futures is trading between 2165 and 2150 over past three trading session. The consolidation move gives the bulls the big advantage as there is consolidation above previous all time high of 2135. The European indices closed in the red, however, recouping some losses at closing. Asian markets today morning are positive.

Stocks to watch out for Wednesday, 20th July, 2016

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Sectoral Index Performance for last trading day and last 1 week
Symbol1D (%)1W (%)
NIFTY ENERGY INDEX1.550.71
NIFTY MEDIA INDEX1.11.26
NIFTY PHARMA INDEX0.780.06
NIFTY METAL INDEX0.470.4
NIFTY AUTO INDEX0.372.1
NIFTY IT INDEX0.29-3.25
NIFTY0.230.11
BANK NIFTY-0.11.54
NIFTY FINANCE INDEX-0.121.18
NIFTY REALTY INDEX-0.49-2.54
NIFTY FMCG INDEX-0.61-0.43

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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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