Nifty index ended flat after volatile trading session, closed shop at 15938 levels, down 28 points.
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Nifty index ended flat after volatile trading sessionon Thursday, closed shop at 15938 levels, down 28 points.
Broader market performance was mix, Mid cap index ended flat while Small cap index was down over 1% leading to fairly weak market breadth.
Majority of sector gauges tracked at NSE settled in red, PSU Bank index was at the bottom of the tally, down over 2% while Oil & Gas, Pharma index outperformed, up 1.34% & 0.7% respectively.
Nifty index settled lower for the third consecutive trading session, it found support around 15850 levels on Thursday, which is a strong trend line support. Due to which 100 points up move was witnessed thereafter in day trade itself. Going ahead, sustenance above 16000-mark is the key for sustainable up move otherwise selling pressure will resume and break below 15850 can take markets towards 15650 in the immediate near term.
Derivatives Overview & Outlook
Yesterday, both Nifty & Banknifty futures added around 5% & 2% of open interest respectively as short buildup.
On sectoral front, short buildup was seen among IT, Metals and Media stocks whereas some long unwinding was seen among Telecom and Realty stocks.
On options front, Nifty will start the new week with maximum positions at 15500 PE and 16000 CE.
FII & DII Trading Activity
Yesterday, FIIs bought stocks worth Rs 309 Cr in the cash segment, sold stocks futures worth Rs 4736 Cr and also sold index futures worth Rs 602 Cr. DIIs were net sellers in the cash segment to the tune of Rs 556 Cr.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty Futures – Resistances 16020-16100; Supports 15850-15780
Banknifty Futures – Resistances 35000-35250; Supports 34600-34300
Earnings Today –
Jindal Steel & Power, Federal Bank, Aditya Birla Money, Deep Diamond India, Den Networks, Integrated Capital Services, Just Dial, Kesoram Industries, Lloyds Metals and Energy, L&T Technology Services, Oberoi Realty, and Opto Circuits (India) will be in focus ahead of quarterly earnings on July 15.
Stock under F&O Ban – Delta Corp
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