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Benchmark Nifty index ended on a flat note at 25954 spot levels after a lackluster trading session.

Broader markets traded inline with the benchmark as Mid and Small indices too settled on a slightly positive note.

Majority of sectoral indices, tracked at NSE, ended in green. Amongst them, Healthcare, Auto, Pharma, PSU Bank index were the top performers, rose in range 1% to 1.62%. On the other hand, IT index underperformed the peers, down 1.76%.

Nifty index is gradually scaling towards its price targets of 26150-26200 spot levels following congestion zone breakout above 25850 spot levels. However, lack of follow-through momentum is indicating towards a possible retest. Any dip up to 25850 should be taken as a fresh buying opportunity as long as it is trading above 25700-25500 spot zone.

Derivatives Overview & Outlook

Yesterday, all index futures, barring Finnifty, settled on a flat note without any significant change in open interest.

On the sectoral front, Capital Goods, Chemical, Pharma and Power stocks witnessed maximum addition of long positions whereas some short buildup was seen among Chemical and Metal stocks. Some short buildup was seen among Finance, Newage and Technology stocks.

On options front, call writing along with some put addition was seen at multiple OTM strikes. Nifty has maximum positions at 26000 CE followed by 27000 CE and 24500 PE followed by 25900 PE.

Institutional Trading Activity

Yesterday, FIIs bought stocks worth Rs 944 Cr in the cash segment, sold stocks futures worth Rs 761 Cr and bought index futures worth Rs 246 Cr. DIIs were net sellers in the cash segment to the tune of Rs 125 Cr.

Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels

Nifty – Resistances 26200-26300; Supports 25850-25700

Banknifty – Resistances 61000-61300; Supports 60400-60200

Finnifty – Resistances 28400-28500; Supports -28120- 28000

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