Nifty index settled near the day’s low at 18812 levels, up 54 points from its previous closing point.
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Important news updates from the domestic front
Post gap up opening, Nifty index settled near the day’s low at 18812 levels, up 54 points from its previous closing point.
Broader markets outperformed the benchmark as Mid & Small cap index were up 0.86% and 0.4% respectively, leading to extremely positive market breadth.
Majority of sector gauges tracked at NSE settled in green, IT, Media, PSU Bank index gained maximum, up over 2% each while Auto, FMCG, Pvt Bank index underperformed.
We reiterate our view, Nifty is well placed on long term as well as short term charts, hence, dips can be utilized to take fresh long positions.
Derivatives Overview & Outlook
Yesterday, no significant activity was seen in Nifty and Banknifty futures on price as well as on open interest front.
Majority of F&O sectors settled higher. Amongst them, IT, Media and Metal stocks witnessed maximum addition of long positions.
On options front, Nifty’s new weekly contract will start with maximum positions at 18800 PE and 19000 CE.
FII & DII Trading Activity
Yesterday, FIIs sold stocks worth Rs 1566 Cr in the cash segment, bought stocks futures worth Rs 941 Cr and sold index futures worth Rs 526 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2665 Cr.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty Futures – Resistances 19000-19100; Supports 18830-18760
Banknifty Futures – Resistances 43700-44000; Supports 43280-43100
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