Indian Market Outlook:
Indian benchmark Nifty gave a steady and positive move yesterday to close 0.2 percent in the green despite banking stocks showing weakness throughout the day. FII have been in the profit booking mode since the past few days after a flurry of buying in the beginning of the September series. They were also net sellers in both cash and F&O segment. Nifty, in order to move up, requires FII participation and in this context the next few days will be very critical. The important support for Nifty stands at 8700, falling below this level, the next support stands at 8520. On the upside, resistance could be faced at 9000.
Nifty Futures is expected to open at 8812 as per SGX Nifty at 8:30 am IST, which is 30 points above its previous close of 8782.
Open Interest Index Futures
On 15th September 2016, FII & Pro have sold 639750 shares combined, below its 1 year average of 705075.
The total for the September expiry from the 26th August is 4102500 shares in Index Futures.
Open Interest Index Options
On 15th September 2016, FII & Pro have sold 1482675 shares combined, below its 1 year average of 2920650.
The total for the September expiry from the 26th August is 293325 shares in Index Options.
FII & DII Cash Buy/Sell Activity
Last trading day, FII’s have bought Rs. 345 Cr shares and DII have sold shares worth Rs. 457 Cr. Combined, net selling worth Rs. 111 cr was seen.For the September expiry FII and DII are net buyers worth 2262 Cr.
The combined FII and Pro have seen decrease in long position in Index future and increase long position in index options. In the cash segment FII and DII combined are net buyers of Rs. 2262 Cr for the September expiry.
International Market Outlook: International markets showed a strong up tick with US Futures Index S&P rising handsomely and making a high of 2148 from lows of 2120. The move was backed by weaker than expected retail sales data and factory data, which have reduced the probability of rate hike for the September policy meet of the Fed due next week.
Though S&P Futures is trading in a broad range of 2110-2160, holding on to the support of 2110 level is in itself a sign of strength for the markets.
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.