India and the 27-nation European Union bloc will start the tenth round of negotiations for a proposed free trade agreement from Monday in Brussels amid Trump tariff threats, according to an official.
The talks are expected to focus on resolving remaining issues so that the agreement can be finalised by the end of this year.
Global Stock Market Today
Nifty Overview & Outlook
Benchmark Nifty index settled on a flat note at 22553 levels after lackluster trading session.
Performance on the broader front was mix. Small cap index outperformed the benchmark as it gained 0.67%, on the other hand, Mid cap index underperformed, fell 0.44%.
Majority of sectoral indices, tracked at NSE, ended in red. Amongst them, Consumer Durables and Realty index were the worst performer, fell over 1% each. On the other hand, Media and Oil & Gas stocks provided the needed support to the bulls, gained 1.83% & 0.55% respectively.
Technically, Nifty index has formed a bullish candlestick formation on weekly charts, however, its last trading price was tad below the resistance level of 22550 spot. Cross and sustenance above the same will be a positive development. On the down side, 22000-21960 zone will act as immediate supports, positional supports are still placed around 21800-21680 levels.
Derivatives Overview & Outlook
Last Friday, Midcapnifty futures was down on long unwinding as it shed 1.5% of open interest. On the other hand, no significant change was seen among Nifty, Finnifty and Banknifty futures on price as well as on open interest front.
Majority of F&O sectors settled lower. Amongst them, Capital Goods and Metal stocks witnessed addition of some long positions while majority were down on short buildup.
On option front, call writing along with some put writing was seen at multiple strikes. Maximum positions are at 21500 PE followed by 22300 PE and 23100 CE followed by 22800 CE.
Institutional Trading Activity
Last week, FIIs sold stocks worth Rs 14762 Cr in the cash segment, bought stocks futures worth Rs 6134 Cr also bought index futures worth Rs 1986 Cr. DIIs were net buyers in the cash segment to the tune of Rs 20951 Cr during the week.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
Nifty – Resistances 22720-22800; Supports 22520-22450
Banknifty – Resistances 48900-49100; Supports 48400-48200
Finnifty – Resistances 23300- 23380; Supports 23120-23080
F&O Security in Ban Today: MANAPPURAM & HINDCOPPER.
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