Nifty Trading At 8800, Range Bound Trading Day Expected

Indian Market Outlook:

Indian benchmark traded in a narrow range in trading yesterday, limiting its movement to 50 points with a high of 8848 and low of 8748 within Friday’s high and low of 8878 and 8769 respectively. The low range movement is expected as India and all emerging markets await US Fed rate decision on 21st night at 11.30 pm IST. The effect will be seen on Thursday’s trading. Nifty trading range for the September series has been 8700-9000. Last week the support of 8720 was tested three times in three consecutive trading sessions highlighting the importance of this level. FII data in the cash and F&O segment have been mixed for the past few trading sessions which is unable to give clear trend of Nifty. Once Fed clears the uncertainty in the policy meet due tomorrow, 21st September, 11:30 pm IST, then the start of a new trend becomes a possibility.

Nifty Futures is expected to open at 8802 as per SGX Nifty at 8:30 am IST, which is 30 points below its previous close of 8832.

Open Interest Index F&O and Cash Segment Activity

Open Interest Index F&O and Cash Segment Activity

In cash segment, Last trading day, FII have bought shares worth Rs. 205 Cr and DII sold shares worth Rs. 252 Cr. A combined sell of Rs. 47 Cr. For this expiry, FII and DII together are buyers worth Rs. 2662 Cr. In Index Options, last trading day, FII have sold 9070 contracts, below its 1 year average of 18280 contracts. Pro have bought 369 contracts, below its 1 year average of 27670 contracts. Combined there has been a net sell of 8701 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net buyers of 21183 contracts.

In Index Futures, last trading day, FII have sold 6280 contracts, below its 1 year average of 9706 contracts. Pro have bought 853 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 5427 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net buyers of 56719 contracts.

International Market Morning Update

International Market Morning Update: International markets remain in the trading range with the German Index Dax showing positive movement for most part of the day and at one point was up 100 points before giving most of the gains as correction set in but closed positive for the day.

The US Index S&P futures after making a high of 2146 corrected downwards to 2128 before recovering to close at 2134, a range bound day of trading. In today trading Japan Nikkei is closed for a holiday.

Other Emerging Asian markets too have remained in a trading range yesterday with a positive bias.

List of Top gainers and Losers on 19th Sep 2016

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*Shares are Multibagger shares as per Dynamic Levels

Dynamic Sector Performance

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The Percentage denotes Sector wise performance.

  • Sugar stocks rallied for the 2nd Day zoomed 4.64%. Triveni Engineering up by 12.83%, Dalmia Bharat Sugar rose 10.29%.
  • Packaging stock surprised by rising 4.34% intraday. Time techno rose 12.12% and Jindal poly was up by 6.39%.
  • In Tyres and tubes MRF rose 6.64% and CEAT was up by 6.29%.

Stocks near Support

 

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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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