Indian Market Outlook: Indian benchmark Nifty is in a buy mode with strong support seen at 8550 levels. It has seen sharp buying from these levels for the past two weeks. The upside resistance of 8750 is also the level it has reversed over the past two weeks. On Friday State bank of India came up with its numbers and the stock gave an upside closing with gains of 8%. Bank Nifty recovered sharply after the results to close at 18960, a flat weekly closing. The inflation numbers will be announced today which will set the tone of the market going forward..
Top 5 gainers for yesterday were State Bank Of India, Axis Bank, Yes Bank, Hindalco and Tata Motors.
Nifty Futures is expected to open at 8712 as per SGX Nifty at 8:05 am IST, which is 40 points above its previous close of 8672
Open Interest Index Futures
On 12th August of 2016, FII & Pro have sold 318975 shares combined, below average of 705075.
The total for the August expiry from the 29th July was 2631975 shares which indicates that Buy positions are still created in Index Futures.
Open Interest Index Options
On 12th August of 2016, FII & Pro have bought 7720350 shares combined, which is above the average of 2920650.
The total for the August expiry from the 29th was sell of 8242575 shares which indicates that Sell positions are created for the clearing in Index Options.
FII & DII Cash Buy/Sell Activity
Last trading day, FII’s have bought shares worth Rs.1204 Cr and DII have sold shares worth Rs. 392 Cr. Combined, net buying worth Rs. 812 cr was seen.
Since 29th July 2016, FII have bought Rs.6346 crore worth shares where as DII have sold shares worth Rs. 4608 crores in the cash segment. FII and DII combined have a net buy worth Rs. 1738 cr since 29th July 2016.
The combined FII and Pro have seen a marginal decrease 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. 1738 Cr since 29th July 2016.
International Market Morning Update: International markets were mildly positive yesterday with US S&P Futures making a new high of 2191 but closed at 2185. A slow up move has been seen over the past few weeks with the major support at 2141. Above this level the trend of S&P Index will remain a buy.
German Dax was flat and is facing resistance at 10750 levels. Japan’s Nikkei is trading below two day low in a negative zone with a net change of -0.25% from yesterday’s close.
Index performance for last 1 week
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.