Nifty to open gap down by 26 points at 9858

niftyDynamic Levels’ Market Outlook:

Market expected to rally further, metal And FMCG sector to zoom.

 

Indian Market Outlook:

Indian Benchmark Index Nifty opened at 9860 and closed at 9884 after making low of 9851. The Index ended by 88 points higher from its previous close of 9796.

Bank Nifty opened at 24253 and closed at 24309 after making a low of 24241. The Index was up by 180 points from its previous close of 24129.

The Cash Market Benchmark Index Small Cap opened at 7585 and closed at 7656 after making a high of 7661. The Index was up by 134 from its previous close of 7522.

Nifty to open gap down by 26 points at 9858 against yesterday’s close of 9884.40 as per SGX Nifty.

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Market Opening Bell

NIFTY FUTURE DOWN 36.70 @ 9890.00
BANKNIFTY FUTURE DOWN 74.80 @ 24398.40
SENSEX DOWN 47.11 @ 31750.73
INR @ 63.98

 

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NIFTY MARKET UPDATE NEWS BY MM

Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in a range of 9640-9650 for targets of 9590-9570, stop loss: 9670, says ICICIdirect.

nifty-updateNifty

With 9600 acting as a strong support for the past two days, the Nifty managed to end positive. IT and metals witnessed long liquidation whereas banking and a few other heavyweights provided support. Nifty futures ended at a premium of 5 points. India VIX fell 0.2 percent, ending at 11.7.

FIIs bought Rs 1049 crore while DIIs sold Rs 940 crore in the cash segment. FIIs bought Rs 1130 crore in Index futures and sold Rs 31 crore in index options. In stock futures, they sold Rs 1072 crore.

The highest Put base is at the 9400 strike with 57 lakh shares while the highest Call base is at the 9700 strike with 44 lakh shares. The 9600 and 9700 Call strikes saw additions of 4.3 and 1.9 lakh shares, respectively, while the 9500 and 9400 Put strikes saw additions of 6.2 and 7.6 lakh shares, respectively.

Nifty Bank

The index continued to trade in a range but a sharp move towards 23350 was seen in the second half. Private sector banks continued to do well whereas PSU banks remained under pressure. Looking at the activity in 24000 strike Call, we feel the index is likely to surpass this level.

Nifty Future:

The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in a range of 9640-9650 for targets of 9590-9570, stop loss: 9670.

Nifty Bank Future: The index continued to trade in a range but a sharp move towards 23350 was seen in the second half. Private sector banks continued to do well whereas PSU banks remained under pressure. Looking at the activity in 24000 strike Call, we feel the index is likely to surpass this level. Buy Nifty Bank in the range of 23150-23200, targets: 23340-23450, stop loss: 23080.

The index continued to trade in a range but a sharp move towards 23350 was seen in the second half. Private sector banks continued to do well whereas PSU banks remained under pressure. Looking at the activity in 24000 strike Call, we feel the index is likely to surpass this level. Buy Nifty Bank in the range of 23150-23200, targets: 23340-23450, stop loss: 23080.

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