Nifty Outlook

Derivatives Overview & Outlook

Yesterday, both Nifty & Banknifty futures shed around 8% & 7.5% of open interest respectively as short covering.

On the sectoral front, short covering was seen among Banking and Metal stocks whereas some short buildup was seen among Auto and Realty stocks.

On options front, put writing was seen at multiple strikes along along with call buying (unwinding by writers) at multiple strikes and maximum positions at 17800 PE and 18200 CE.

FII & DII Trading Activity

Yesterday, FIIs bought stocks worth Rs 1305 Cr in the cash segment, bought stocks futures worth Rs 1994 Cr and also bought index futures worth Rs 3774 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 205 Cr.

Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 18025-18100; Supports 17850-17780

Banknifty Futures – Resistances 41950-42250; Supports 41400-41200

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