Nifty index settled at the day's top at 16049 levels, up 110 points after trading in a narrow range in the first half of the session.
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Nifty index settled at the day’s top at 16049 levels, up 110 points after trading in a narrow range in the first half of the session.
Broader markets performance was mix, Mid cap index settled higher by 0.77% while Small cap index ended on flattish note, up 0.34%.
Majority of sectoral gauges tracked at NSE settled in green, Auto, FMCG, Consumer Durables index gained maximum, up in range 1.4 to 2% while Metal index was at the bottom of the tally, down 0.8%.
Nifty index has once again entered trading range (15600-16250) in which it was stuck earlier as well, strong breakout and sustenance above these levels is a must for next sustainable up move.
Derivatives Overview & Outlook
On Friday, Nifty futures shed around 1% of open interest as short covering whereas Banknifty futures remained almost unchanged on the price front and added around 2% of open interest.
On sectoral front, long buildup was seen among Auto, Capital Goods and Pharma stocks whereas some short buildup was seen among Metal stocks.
On options front, put writing was seen at multiple strikes along with call writing at 16600 strike and maximum positions are at 16000 PE and 16600 CE.
FII & DII Trading Activity
Last week, FIIs sold stocks worth Rs 5105 Cr in the cash segment, sold stocks futures worth Rs 1785 Cr and also sold index futures worth Rs 3833 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2146 Cr during the week.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty Futures – Resistances 16150-16250; Supports 15950-15850
Banknifty Futures – Resistances 35100-35350; Supports 34500-34300
Earnings Today –
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