Nifty Consolidates Above 8550, ECB Credit Policy Eyed today

Indian Market Outlook:

Indian benchmark Nifty saw a range bound but positive movement

yesterday. Nifty closed at day high of 8589, a striking distance from previous week high of 8605. The day was marked with outperformance from mid cap and small cap

stocks along with consolidation of IT stocks. European Central Bank is expected to announce its credit policy today after market hours at 5:15 pm IST. Hopes of

continued stimulus in the light of Brexit has become a possibility which should take all global markets higher.

The top 5 gainers for Wednesday were AUROPHARMA, TATAPOWER, COALINDIA, BHEL and GAIL.

Nifty is expected to open at 8584 as per SGX Nifty at 8:15 am IST, which was its yesterday’s close.

Open Interest Futures & Options Index Update

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On 20th of July, FII & Pro have bought 316950 shares combined which is below the average of 705075.

The total for the July expiry from the 1st July to 20th July is 5440725 shares, which indicates that big players are building long positions in market.

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On 20th of July, FII & Pro have bought 659100 shares combined, below average of 2920650, after five days of selling.

The total for the July expiry from the 1st July to 20th July is 4165800 which indicates that a Buy position has been created for the clearing.

FII & DII Cash Buy/Sell Activity

FII_DII_Cash_Buy_Sell

Last trading day, FII have bought shares worth Rs. 215 Cr and DII have sold shares worth Rs. 45 Cr. Combined, net buying worth Rs. 170 cr was seen.

Since 1st July 2016, FII have bought Rs.5544 crores worth shares where as DII have sold shares worth Rs.3751 crores in the cash segment.

FII and DII combined have a net buy worth Rs. 1792 Cr since 1st July 2016.

The combine FII and Pro have seen a continued increase in long position in Index future and an increase of short position in index options. In the cash segment FII

and DII combined are net buyers of Rs. 1792 Cr since 1st July 2016. The immediate target for Nifty as per Dynamic Levels is 8648.

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International Market Outlook: International markets had a positive day yesterday with S&P futures retesting all time high and is

currently hovering at 2168. The bullishness was reflected in European indices with Dax and other indices clocking a gain between 0.5-1.5 percent. Asian markets are

neutral as ECB policy is keenly watched. Nikkei is trading positive this morning with 1.35% up from its yesterday’s close.

Stocks to watch out for Thursday, 21st July, 2016

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Sectoral Index Performance for last trading day and last 1 week
Symbol 1D (%) 1W (%)
NIFTY REALTY INDEX 2.68 0.39
NIFTY PHARMA INDEX 2.39 2.89
NIFTY ENERGY INDEX 1.05 1.5
NIFTY FMCG INDEX 0.54 -0.29
NIFTY 0.44 0.01
BANK NIFTY 0.33 0.55
NIFTY METAL INDEX 0.28 0.31
NIFTY AUTO INDEX 0.21 1.81
NIFTY FINANCE INDEX 0.15 0.43
NIFTY IT INDEX -0.01 -3.52
NIFTY MEDIA INDEX -0.16 -0.46

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