Indian Market Outlook:
Nifty saw last hour of selling yesterday on the backdrop of
weekly Bank Nifty expiry which pulled down banking stocks. The trigger being HDFC bank results, showing concerns about increase in NPA. ITC results came in after
market hours and have also disappointed expectations. The stock could be down by 1 to 2% in today’s trading as well. The overall range of Nifty in the last several
trading sessions is 120 points which is very narrow. One can expect a range expansion in the coming days as the next week will mark the options expiry for the month of
July. The support for Nifty is at 8485 and the resistance stands between 8590 – 8605.
The top 5 gainers for Thursday were ACC, ULTRACEMCO. AMBUJACEM, INDUSINDBK and ASIANPAINT.
Nifty is expected to open at 8525 as per SGX Nifty at 8:15 am IST, which is 6 points above its yesterday’s close.
Open Interest Futures & Options Index Update
On 21st of July, FII & Pro have bought 107925 shares combined which is below the average of 705075.
The total for the July expiry from the 1st July to 21st July is buy 5548650 shares, which indicates that big players are building long positions in market.
On 21st of July, FII & Pro have sold 3672225 shares combined, above average of 2920650.
The total for the July expiry from the 1st July to 20th July is 493575 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. 420 Cr and DII have sold shares worth Rs. 372 Cr. Combined, net buying worth Rs. 48 cr was seen.
Since 1st July 2016, FII have bought Rs.5964 crores worth shares where as DII have sold shares worth Rs.4124 crores in the cash segment.
FII and DII combined have a net buy worth Rs. 1840 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. 1840 Cr since 1st July 2016. The immediate target for Nifty as per Dynamic Levels is 8648.48.
International Market Outlook: Yesterday, in the ECB credit policy, the European Central Bank chief Mario Draghi kept the stimulus
unchanged while promising to deliver more stimulus if required. The Bank of Japan chief downplayed talks of any stimulus increase in the upcoming credit policy due on
29th July 2016. Both factors combined led to negative sentiments which resulted in global markets falling by 0.2 to 0.5%.
Today morning in Asia, Nikkei is down by 0.90%.
Stocks to watch out for Friday, 22nd July, 2016
|Sectoral Index Performance for last trading day and last 1 week|
|Symbol||1D (%)||1W (%)|
|NIFTY FMCG INDEX||0.19||-0.15|
|NIFTY IT INDEX||0.07||0.52|
|NIFTY MEDIA INDEX||-0.53||-1.29|
|NIFTY AUTO INDEX||-0.77||0.05|
|NIFTY METAL INDEX||-0.78||-1.29|
|NIFTY PHARMA INDEX||-0.88||1.83|
|NIFTY ENERGY INDEX||-1.04||0.4|
|NIFTY REALTY INDEX||-1.09||-0.17|
|NIFTY FINANCE INDEX||-1.17||-1.49|
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