Nifty Holds 8600, Fed keeps Rates Unchanged

Indian Market Outlook:

Nifty is clearly seeing profit booking at 8650 levels and support stands at 8570. Markets can be volatile as today is the last trading day of the F&O July expiry. Yesterday, Nifty entered the penultimate day before the expiry, with strong momentum in the morning session making a high of 8665, thereby a sharp profit booking was seen as Nifty broke previous day low of 8585, after trading in a narrow band and closing at 8615.

The Top 5 gainers are Infratel, ICICI Bank, Zeel, Maruti and Adani Ports.

Nifty is expected to open at 8620 as per SGX Nifty at 8:00 am IST, which is 10 points above the previous close of 8610.

Open Interest Futures & Options Index Update

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On 27th of July, FII & Pro have bought 483750 shares combined which is below the average of 705075.

The total for the July expiry from the 1st July to 27th July is buy 7140375 shares, which indicates that big players have built long positions in market.

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On 27th of July, FII & Pro have bought 2426175 shares combined which is below the average of 2920650.

The total for the July expiry from the 1st July to 27th July is 4189800 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. 405 Cr and DII have sold shares worth Rs. 152 Cr. Combined, net buying worth Rs. 252 cr was seen.

Since 1st July 2016, FII have bought Rs.8369 crores worth shares where as DII have sold shares worth Rs.5128 crores in the cash segment. FII and DII combined have a net buy worth Rs. 3241 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 long position in index options. In the cash segment FII and DII combined are net buyers of Rs. 2988 Cr since 1st July 2016.

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International Market Outlook: Yesterday night US Fed met for the concision of its July meeting and they have upgraded the economic outlook and kept the door open for interest rates increase in the later part of the year. However the inflation target of 2 percent (currently stands at 1%) is unable to be met as Lower crude prices will keep inflation in check and this rates hikes may be delayed to December.

 Today morning Asian markets are trading in the negative territory with Japan’s Nikkei down by 0.69% from its yesterday’s close. The markets are expected to trade in a range as they await the Bank of Japan’s policy decision due tomorrow morning.

Stocks to watch out for Thursday, 28th July, 2016

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Sectoral Index Performance for last trading day and last 1 week
Symbol1D (%)1W (%)
NIFTY MEDIA INDEX1.224.19
NIFTY FINANCE INDEX0.932.5
NIFTY METAL INDEX0.933.11
BANK NIFTY0.851.86
NIFTY AUTO INDEX0.811.33
NIFTY IT INDEX0.471.45
NIFTY0.291.24
NIFTY ENERGY INDEX-0.262.01
NIFTY REALTY INDEX-0.270.66
NIFTY FMCG INDEX-0.7-0.43
NIFTY PHARMA INDEX-1.04-2.12
quarterly_results

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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