Nifty To Open Flat, Buy Trend Is Intact

Indian Market Outlook:

India benchmark Index Nifty did not show any clear movement last week after testing 8800 levels, it corrected by 100 points on low volumes to close at 8715. This week being a truncated week with two successive holidays might see range bound movement today. As the next trading day would be Thursday, 13 October. Oil and Gas was the star performer last week with the increase in crude prices, Reliance gave a weekly closing above 1100 which is very positive. Banking shares saw small profit booking after a rate cut and some under performance was witnessed despite holding on to the support of 19500. Small cap index continues to trade near all time high recovering sharply after the surgical strikes done by Indian army where it fell below 6000 levels. The sharp pullback upwards clearly indicates a uptrend in the Indian markets.

Nifty Futures is expected to open at 8742 as per SGX Nifty at 8:30 am IST, which is 22 points above its previous close of 8720.

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. 56.25 Cr and DII bought shares worth Rs. 726 Cr. A combined buy of Rs. 782 Cr. For this expiry, FII and DII together are buyers worth Rs. 1841 Cr.

In Index Options, last trading day, FII have sold 22194 contracts, above its 1 year average of 18280 contracts. Pro have sold 14982 contracts, below its 1 year average of 27670 contracts. Combined there has been a net sell of 37176 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 24357 contracts.

In Index Futures, last trading day, FII have sold 13820 contracts, above its 1 year average of 9706 contracts. Pro have bought 4307 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 9513 contracts above its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 41976 contracts.

International Market Morning Update:

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International markets saw an uptick in later half of the trading session on Friday, after being sharply down in early trading. US Non Farm Payroll which is the job data for the month of September came in at 156000 which was below expectations and reduced the probability of a November interest rate hike by US Fed.

US benchmark Index S&P futures is trading in a range of 30 points of 2140-2170 with the next trigger being US elections which is on November 8. German Dax is also trading in a range with no major triggers.

Nikkei after a continued rally of 4 days, has corrected first time today by only 0.18% from previous close to currently trade at 16869.

List of Top Gainers and Losers between 7th 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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