Nifty index settled near the day’s top after lackluster trading session as steep buying was witnessed in last hour of trade that helped the benchmark index close shop at 18608 levels, up 110 points.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Nifty Outlook
Nifty index settled near the day’s top after lackluster trading session as steep buying was witnessed in last hour of trade that helped the benchmark index close shop at 18608 levels, up 110 points.
Broader market performance was in line with benchmark as Mid & Small cap index gained 0.4% each leading to positive market breadth.
Sector performance was mix, PSU Bank index gained maximum, up 3.8%, IT index also performed quite well, up 1.10% while Realty index was at the bottom of the tally, down 0.8%.
Nifty index is well placed on charts, indicating up side move to continue ahead as well. US Fed will declare its rates decision today after market hours hence, its impact will be witnessed in the opening move of the next trading session.
Derivatives Overview & Outlook
Yesterday, Nifty futures shed around 1% of open interest as short covering whereas Banknifty future added around 6% of open interest as long positions.
On the sectoral front, long buildup was seen among Chemicals, Capital Goods and Infra stocks whereas some short buildup was seen among Pharma and Oil & Gas stocks.
On options front, put writing was seen at multiple strikes along with call buying (unwinding by writers) at 18600 strikes and maximum positions are at 19000 CE closely followed by 18600 CE and 18600 PE.
FII & DII Trading Activity
Yesterday, FIIs bought stocks worth Rs 620 Cr in the cash segment, sold stocks futures worth Rs 1674 Cr and bought index futures worth Rs 557 Cr. DIIs were net buyers in the cash segment to the tune of Rs 37 Cr.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty Futures – Resistances 18775-18850; Supports 18650-18570
Banknifty Futures – Resistances 44250-44500; Supports 43900-43700
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