Indian Market Outlook:
Nifty had a negative day yesterday as Rajya Sabha debated GST. Anxiety regarding passage of the bill was seen yesterday as the sell off gained momentum in the last 30 minutes of trading. FII and Pros combined have been sellers of options in this clearing and yesterday above average selling was witnessed. Today the gap up opening if not sustained for 15 minutes post opening can lead to profit booking. Yesterday’s low of 8568 becomes critical, the resistance of 8650 should remain an important level for today as well.
Top 5 gainers were HCL Tech, Infratel, Asian Paint, Cipla and Bosch Ltd. Nifty Futures is expected to open at 8625 as per SGX Nifty at 8:30 am IST, which is 50 points above its previous close of 8660.
Open Interest Futures & Options Index Update
On 3rd August 2016, FII & have bought 335775 shares combined, below average of 705075. The total for the August expiry from the 29th July to 3rd August was 1108725 shares which indicates that Buy positions are still created.
On 3rd August 2016, FII & have sold 7081950 shares combined, which is above average of 2920650.The total for the August expiry from the 29th July to 3rd August was sell of 13646550 shares which indicates that Sell positions are created for the clearing.
FII & DII Cash Buy/Sell Activity
Last trading day, FII’s have bought shares worth Rs.578 Cr and DII have sold shares worth Rs. 801 Cr. Combined, net selling worth Rs. 223 cr was seen. Since 29th July 2016, FII have bought Rs.1826 crore worth shares where as DII have sold shares worth Rs. 1450 crores in the cash segment.
FII and DII combined have a net buy worth Rs. 377 cr since 29th July 2016. The combine FII and Pro have seen a continued increase in long position in Index future and a increase of short position in index options. In the cash segment FII and DII combined are net buyers of Rs. 599 Cr since 29th July 2016.
International Market Outlook: US markets gave a sharp reversal after yesterday low of 2145 to above 2160 today morning. The bullishness can be attributed to credit policy of Bank of England which is going to announce its policy decision after market hours today. Analysts expect a rate cut which is factored in. The German Index DAX was mildly positive recovering 80 points from yesterday’s low. The Asian markets are eagerly awaiting Bank of England credit policy with Japan Nikkei trading negative 0.39%.
These stocks were traded in buy momentum in last week, any correction in these stocks can be a good opportunity to Buy.
Research Team – Tel: 033-30010001, write to us at firstname.lastname@example.org 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.