Nifty Tests Support Of 8710, Volatility Expected Ahead

Indian Market Outlook:

Indian benchmark Nifty saw third consecutive day of profit booking yesterday, where it touched 8710. Later, buying was seen and Nifty closed at 8725. Banking stocks were top losers. Bank Nifty is trading below 19710 for second consecutive day and now the weekly target as per Dynamic Levels is 19100. FII have started to book profits in their long positions in both cash and F&O segment which can keep the upside capped at 8800 for this expiry.

Nifty Futures is expected to open at 8705 as per SGX Nifty at 8:30 am IST, which is 20 points below its previous close of 8725.

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 sold shares worth Rs. 155.76 Cr and DII bought shares worth Rs. 91 Cr. A combined sell of Rs.65 Cr. For this expiry, FII and DII together are buyers worth Rs. 2704 Cr.

In Index Options, last trading day, FII have sold 38218 contracts, above its 1 year average of 18280 contracts. Pro have bought 6417 contracts, below its 1 year average of 27670 contracts. Combined there has been a net sell of 31801 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 170507 contracts.

In Index Futures, last trading day, FII have sold 6185 contracts, below its 1 year average of 9706 contracts. Pro have bought 1805 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 4380 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net buyers of 58623 contracts.

International Market Morning Update:

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International markets remained volatile as the fight between the bulls and the bears continued. S&P Futures fell to 2134 as the US presidential debate took off and went back to 2154 before retesting 2134 at the start of US cash market opening. It rose again to test 2153 and is currently trading at 2149.

German Dax gave a sharp recovery after testing 10280 which was last week’s low before recovering sharply by 100 points. Dax closed yesterday at 10375.

Today, in Asian market, Japan’s Nikkei is trading lower by 1 percent.

List of Top Gainers and Losers on 27th Sep 2016

 

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Dynamic Sector Performance

 

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The Percentage denotes Sector wise performance.

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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