Nifty Regains Pace. All Eyes On Patel’s 1st RBI Policy

Indian Market Outlook:

Nifty witnessed a sharp rally from a low of 8562 to 8788 in last two days. Nifty regained its strength after the Pakistan’s advisor to PM commented yesterday that they want to reduce tensions at the border. All eyes are now on the RBI policy to be announced today, scheduled at 2:30 pm IST. This would be the first monetary policy under the supervision of new RBI chief, Urjit Patel. Rate sensitive sectors like Financial Services and NBFCs rallied yesterday showing expectations of rate cut on the cards. Any rate cut would be positively welcomed by the markets whereas a status quo policy may disappoint markets. US Non-Farm payrolls data is to be announced later this week on Friday. Investors would keenly watch these figures to get further clarity on the US rate hike timings.

Top 5 performing sectors as per Dynamic Levels yesterday were – Chemicals, Media & Entertainment, Financial Services, Fertilizers and Textiles & Apparels.

Nifty Futures is expected to open at 8780 as per SGX Nifty at 8:30 am IST, which is 5 points below its previous close of 8785.

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. 34.2 Cr and DII bought shares worth Rs. 198 Cr. A combined buy of Rs. 232 Cr. For this expiry, FII and DII together are buyers worth Rs. 764 Cr.

In Index Options, last trading day, FII have sold 9124 contracts, below its 1 year average of 18280 contracts. Pro have bought 54490 contracts, above its 1 year average of 27670 contracts. Combined there has been a net buy of 45366 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net buyers of 28944 contracts.

In Index Futures, last trading day, FII have sold 2408 contracts, below its 1 year average of 9706 contracts. Pro have sold 8385 contracts, above its 1 year average of 4903 contracts. Combined there has been a net sell of 10793 contracts above its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 31927 contracts.

International Market Morning Update:

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International markets have been holding strong since last few weeks. S&P 500 Futures has been trading in a range of 2132 to 2172 with a positive bias. Currently S&P is trading at 2154. American Markets keenly await the Nonfarm payrolls due on Friday this week. Further clarity around the US interest rate hike timings would be clear from the FOMC meeting minutes due next week Wednesday.

Dax, in the European markets would open after a holiday for Unification Day yesterday.

Chinese markets are closed for the day on account of their National day.

Nikkei in Japan is trading 0.88% above its previous close displaying strength in the Asian markets.

List of Top Gainers and Losers between 3rd Oct 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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