Nifty Overview & Outlook

The benchmark Nifty index witnessed a range bound trading session and ended the day on a negative note at 19733 levels, down 20 points from its previous closing values.

Small cap index outperformed the broader market as it was up by 0.68% while Midcap index ended on a flat to negative note.

Performance on the sectoral front was mix. Amongst them, Nifty IT Index was at the top of the tally, rose over 1%. On the other hand, Realty index led the decline, fell 1.77%.

Going ahead, we reiterate our short term sideways view on Nifty index and suggest traders to maintain buy on dips trading strategy till index is holding above 19500 levels on closing basis. Medium term and long term trend are still positive.

Derivatives Overview & Outlook

Yesterday, long unwinding was seen in Nifty futures as open interest decreased by 1.3%. On the other hand, short build up was observed in Banknifty futures and Finnifty futures with an increase in open interest by 1.3% and 20.1 % respectively.

On the sectoral front, fresh long buildup was seen among Metals, Power and Textile stocks, fresh short build up was seen among Capital Goods, Infrastructure, Media and Realty shares while short covering was seen among Chemicals and Technology shares.

On options front, call writing was seen at multiple strikes and maximum positions are at 19800 CE and 19600 PE.

Institutional Trading Activity

Yesterday, FIIs sold stocks worth Rs 93 Cr in the cash segment, sold stocks futures and index futures worth Rs. 858 Cr and Rs 45 Cr respectively. DIIs were net buyer in the cash segment to the tune of Rs 1036 Cr.

Nifty Futures, Banknifty Futures and Finnifty Key Levels

Nifty – Resistances 19880-19960; Supports 19635-19565

Banknifty – Resistances 46080-46210; Supports 45490-45400

Finnifty – Resistances 20500-20560; Supports 20260-20180

F&O stocks in ban today: HINDCOPPER,IBULHSGFIN, PEL

Important Results Today: ABCAPITAL, AMBUJACEM, AWL, FSL, GODREJPROP, GJGAS, HINDPETRO, INDIGO, METROPOLIS, TITAN

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