Steep selloff in the latter half of the session led Nifty close near the day’s low after a cut of 257 points at 16983 levels.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Nifty Outlook
Steep selloff in the latter half of the session led Nifty close near the day’s low after a cut of 257 points at 16983 levels.
Broader markets too performed in line with benchmark as Mid & Small cap index settled 1.7% lower, due to which market breadth was quite weak.
All sector gauges tracked at NSE settled in red, Realty, Metal & Media index lost maximum, down in range 2.02 to 3.07%.
Nifty index has settled below 17000-mark, this is a sign of weakness indicating decline to continue. Going ahead, decisive fall below 16950 spot levels could take the benchmark towards 16850 in quick succession.
Derivatives Overview & Outlook
Yesterday, Nifty futures added around 3% of open interest as short buildup whereas Banknifty futures shed around 3% of open interest as long unwinding.
Majority of F&O sectors settled lower. Amongst them, Realty, Oil &Gas, Banking and Telecom stocks witnessed maximum addition of short positions.
On options front, call writing was seen at multiple strikes and maximum positions are at 18000 CE followed by 17500 CE and 17000 PE.
FII & DII Trading Activity
Yesterday, FIIs sold stocks worth Rs 4613 Cr in the cash segment, sold stocks futures worth Rs 1659 Cr and also sold index futures worth Rs 1015 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2431 Cr.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty Futures – Resistances 17100-17200; Supports 16850-16750
Banknifty Futures – Resistances 39050-39275; Supports 38370-38100
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