Benchmark Nifty Index opened with gap on higher side, failed to sustain at higher levels, and settled on flat note at 18035 levels after adding just 20 point to the previous closing values.
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Benchmark Nifty Index opened with gap on higher side, failed to sustain at higher levels and it kept sliding lower in a gradual manner. It settled on a flat note at 18035 levels after adding just 20 point to the previous closing values.
Performance on the sectoral front was mix. Nifty IT, Realty and Metal index were at the top of the tally, gained 1.63%, 1.33% & 1.23% respectively.
Going ahead, we reiterate our bullish view on Nifty index till it is holding above 17900 levels and expect it to test 18200 levels in near term.
Derivatives Overview & Outlook
Yesterday, no significant activity was seen among Nifty and Banknifty futures on the price front whereas on open interest front Nifty futures remained almost unchanged while Banknifty futures added around 6% of open interest.
On sectoral front, long buildup was seen among Oil & Gas, IT and Capital Good stocks whereas some short buildup was seen among Finance and Telecom stocks.
On options front, Nifty will start the final expiry week of February series with maximum positions at 18000 PE and 18100 CE.
FII & DII Trading Activity
Yesterday, FIIs bought stocks worth Rs 1571 Cr in the cash segment, bought stocks futures worth Rs 873 Cr and sold index futures worth Rs 351 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 1577 Cr.
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