Oil steadied near the lowest level since early June with the focus on how much OPEC+ will increase output quotas this weekend. Brent crude traded below $67 a barrel, while West Texas Intermediate was near $65.
The Organization of the Petroleum Exporting Countries and its allies are expected to agree to a fourth monthly major supply increase at a meeting on Sunday, according to a Bloomberg survey, as leader Saudi Arabia continues its bid to reclaim market share.
Global Stock Market Today
Derivatives Overview & Outlook
Yesterday, Finnifty futures added 7% of open interest as short buildup along with some long unwinding in Nifty futures that shed around 2% of open interest while Midcapnifty futures added 4% of open interest as long buildup, and no meaningful activity was seen in Banknifty futures on open interest as well as on price front.
On sectoral front, Auto, Metal and FMCG stocks witnessed maximum addition of short positions and some long buildup was seen among Chemical, Technology and Power stocks.
On options front, call writing along with put unwinding was seen at multiple strikes. Maximum positions are at 25000 PE followed by 25500 PE and 26500 CE followed by 26000 CE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 831 Cr in the cash segment, sold stocks futures worth Rs 3491 Cr also sold index futures worth Rs 903 Cr. DIIs were net buyers in the cash segment to the tune of Rs 3497 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25720-25800; Supports 25520-25450
Banknifty – Resistances 57800-58000; Supports 57200-57000
Finnifty – Resistances 27400- 27500; Supports 27200-27100
F&O Security in Ban Today: RBLBANK
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