Nifty Corrected Till Previous Day Low, Bulls Still In Control

Indian Market Outlook:

Nifty corrected sharply yesterday after opening gap up. Nifty opened at 8829 and after making a high of 8832 it corrected sharply by 78 points till 8754 in the first half of trading yesterday. It broke its Tuesday’s low of 8765 by 11 points and traded in a range of 50 points for the entire second half to close at 8768. The US ADP Employment data was announced yesterday which stood at 155K, below the expectation of 165K. The Non-farm employment data is expected on Friday which would add to the clarity about US rate hike timings. This data along with US Presidential Elections are the two major events which the Global Investors are keenly monitoring for the market directions.

Top 5 performing sectors as per Dynamic Levels yesterday were – Sugar, Auto – Tyres & Tubes, Beverage and Media.

Nifty Futures is expected to open at 8791 as per SGX Nifty at 8:30 am IST, which is 23 points above its previous close of 8768.

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. 243 Cr and DII sold shares worth Rs. 350 Cr. A combined sell of Rs. 107 Cr. For this expiry, FII and DII together are buyers worth Rs. 829 Cr.

In Index Options, last trading day, FII have sold 10311 contracts, below its 1 year average of 18280 contracts. Pro have sold 24108 contracts, below its 1 year average of 27670 contracts. Combined there has been a net sell of 34419 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net buyers of 12564 contracts.

In Index Futures, last trading day, FII have bought 2639 contracts, below its 1 year average of 9706 contracts. Pro have sold 6236 contracts, above its 1 year average of 4903 contracts. Combined there has been a net sell of 3597 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 32824 contracts.

International Market Morning Update:

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S&P 500 Futures is still trading in a very small range of 2170 to 2132 and is expected to stay in this range till the Non-farm data expected on Friday. The ADP Employment data was announced yesterday, which was below expectation.

Dax, in the European markets traded with strength yesterday. It retested its previous day’s high of 10637 by making a high of 10614 yesterday before closing at 10590.

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

Nikkei after opening gap up today is trading 0.56% above its previous close displaying strength in the Asian markets.

List of Top Gainers and Losers between 5th Oct 2016

 

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Dynamic Sector Performance

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The consistent buying is seen in chemical and Auto tyre and tubes sector. Faster return is expected if investment to be made in these sectors.

Stocks Near Support

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Result Calendar

 

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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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