Nifty To Open Below 8700, Weak Global Cues Support Bears

Indian Market Outlook:

Indian markets after two days of holiday, restores trading today with the SGX Nifty indicating a downward bias and a gap down opening of 78 points. The benchmark Index Bank Nifty is showing considerable weakness and had closed at 19379 on Monday, which is 300 points near range low of 19079. After the gap down opening today, Nifty and Bank Nifty need to take support of the low levels made in first 15 minutes of trading today, as bulls might try to reclaim the lost ground. Nifty’s upside resistance remains at 8800 and major support stands at 8568. NSE Small Cap Index is trading at 6370 levels, near all time high of 6450 showing positive bias.

Nifty Futures is expected to open at 8667 as per SGX Nifty at 8:30 am IST, which is 78 points below its previous close of 8745.

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. 547.26 Cr and DII bought shares worth Rs. 469 Cr. A combined buy of Rs. 1763 Cr. For this expiry, FII and DII together are buyers worth Rs. 1763 Cr.

In Index Options, last trading day, FII have bought 13362 contracts, below its 1 year average of 18280 contracts. Pro have sold 13529 contracts, below its 1 year average of 27670 contracts. Combined there has been a net sell of 167 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 24524 contracts.

In Index Futures, last trading day, FII have sold 2322 contracts, below its 1 year average of 9706 contracts. Pro have bought 291 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 2031 contracts above its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 44007 contracts.

International Market Morning Update:

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International markets were in corrective mode since past few days with US Index S&P Futures trading downwards below the support of 2141 with a negative bias. The big support stands at 2107, below that the short term trend will turn to sell. German Dax is negative with a correction of 200 points from recent high.

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.

In today’s trading Japan’s Nikkei is down by 100 points and S&P futures down by 15 points at 2115 indicating a downward bias with Weak Chinese trade data in focus.

List of Top Gainers and Losers between 10th October 2016

 

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Dynamic Sector Performance – 10th October 2016

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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 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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