Nifty Retests 8550, Global Cues Eyed

Indian Market Outlook:

Indian markets were a sea of red with selling seen in all sectors yesterday. The benchmark Index Nifty fell by 140 points on the back drop of negative exports data which came in from China yesterday morning. After a gap down opening of 70 points, Nifty witnessed continued selling below 8700 to make a low of 8550 before recovering to close at 8581. Banking shares came in for heavy selling yesterday. Bank Nifty closed below 19050 for the first time in two months. This is a bearish sign as bulls are finding it difficult to hold important support levels. FII were sellers yesterday in both cash and F&O space with the selling continuing in the whole October series which suggests they are reducing their long positions. Nifty should hold 8550, failing which, the trend will turn in favor of bears.

Nifty Futures is expected to open at 8685 as per SGX Nifty at 8:30 am IST, which is at its previous close of 8681.

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. 911.53 Cr and DII bought shares worth Rs. 679 Cr. A combined sell of Rs. 232 Cr. For this expiry, FII and DII together are buyers worth Rs. 1531 Cr.

In Index Options, last trading day, FII have sold 55016 contracts, above its 1 year average of 18280 contracts. Pro have sold 74284 contracts, above its 1 year average of 27670 contracts. Combined there has been a net sell of 129300 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net sellers of 153824 contracts.

In Index Futures, last trading day, FII have sold 36342 contracts, above its 1 year average of 9706 contracts. Pro have bought 4305 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 32037 contracts above its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net sellers of 76044 contracts.

International Market Morning Update:

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International markets saw a pullback with SP futures saw a moderate pullback from monthly low of 2107 to close at 2120.The short term trend change levels to sell will 2105 and below that the markets trend will turn to sell.

German Dax which is showing relatively out performances closed with minor losses and Japan Nikkei is trading with minor gains.

In today’s trading Japan’s Nikkei is trading positive by 0.07% from yesterday’s close.

List of Top Gainers and Losers between 13th October 2016

 

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Dynamic Sector Performance – 13th 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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