Nifty To Open Gap Up, Yellen Projects Slow Rate Hikes

Indian Market Outlook:

Indian benchmark Nifty is expected to open gap up as US Federal Reserve Chief Janet Yellen was Dovish in her assessment of short term rates hikes. Major global markets have rallied in the aftermath of the Federal Reserve’s comment. Nifty has been in a trading range between 8900-8720 in the past few trading sessions and today there is a possibility that the index would retest the range on the upside. FII’s have been buyers in cash markets even though some profit booking has been witnessed in past few trading sessions but data is clearly a buy over the last three months.

Nifty Futures is expected to open at 8881 as per SGX Nifty at 8:30 am IST, which is 70 points above its previous close of 8809.

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. 183.85 Cr and DII sold shares worth Rs. 231 Cr. A combined sell of Rs. 47 Cr. For this expiry, FII and DII together are buyers worth Rs. 2246 Cr.

In Index Options, last trading day, FII have sold 27302 contracts, above its 1 year average of 18280 contracts. Pro have bought 8032 contracts, below its 1 year average of 27670 contracts. Combined there has been a net sell of 19270 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 35783 contracts. In Index Futures, last trading day, FII have bought 6360 contracts, below its 1 year average of 9706 contracts. Pro have sold 486 contracts, below its 1 year average of 4903 contracts. Combined there has been a net buy of 5874 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net buyers of 67904 contracts.

International Market Morning Update

International Market Morning Update: International markets continued their positive bias even as US index S&P futures moved up by 30 points to make a high a of 2157 after Janet Yellen’s press conference. The uptrend in European markets also continued as German Dax closed near day high of 10520.

The German Dax too was range bound in trading yesterday. The range of Dax in the last few trading sessions has been at 10450-10260 which is narrow and a breakout of either side is expected tonight.

Asian markets are trading in the green today with Japan’s Nikkei closed today.

List of Top gainers and Losers on 21st Sep 2016

 

 

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Dynamic Sector Performance

 

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The Percentage denotes Sector wise performance.

  • Textile sector was top performer with 1.33% up move
  • FMGC-Packaging rose 0.83%
  • Profit Booking was seen in FMCG- Sugar and Auto- Automobiles And Auto Parts

Stocks Near Support

 

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DISCLAIMER

Research Team – Tel: 033-30010001, write to us at [email protected] 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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