Nifty Overview & Outlook

The benchmark Nifty index ended lower for the third straight day and settled at 18130 levels, down 50 points from its previous closing values after the lackluster trading session.

The Broader market underperformed the benchmark as Midcap and Small cap index were down 0.74% and 0.48% respectively.

Majority of sectoral indices tracked at NSE settled lower. Amongst them, Nifty Realty lost maximum, down over 2% followed by Nifty PSU Bank, Pharma and FMCG index that were down in range 1% to 2%.

Technically, Nifty index ended on a weak note and formed a bearish red candlestick on a daily chart. Going ahead, cross and sustenance below 18100 levels will be a negative development and might take it towards 17900 levels in immediate near term.

Derivatives Overview & Outlook

Yesterday, Nifty, Banknifty and Finnifty futures remained almost unchanged on price front and added around 1%, 3% & 8% of open interest respectively.

All F&O sectors settled lower. Amongst them, Telecom, Cement, Metal and Chemical stocks witnessed maximum addition of long positions.

On options front, call writing (25^th Mar Contract) was seen at multiple strikes and maximum positions are at 18200 CE and 18000 PE.

Institutional Trading Activity

Yesterday, FIIs bought stocks worth Rs 970 Cr in the cash segment, sold stocks futures worth Rs 1140 Cr and bought index futures worth Rs 656 Cr. DIIs were net sellers in the cash segment to the tune of Rs 850 Cr.

Nifty Futures & Bank Nifty Futures Key Levels

Nifty – Resistances 18250-18350; Supports 18100-18000

Banknifty – Resistances 44050-44250; Supports 43600-43400

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