- US equity markets were down in range 0.16% to 0.72%
- European equity markets also settled lower in range 0.25% to 0.56%
- Majority of Asian equity markets are trading in red
- SGX Nifty is little changed (as on 8:30AM)
The benchmark Nifty index closed on a positive note, settled above 18800 levels after adding 61 points to its previous closing values after highly volatile trading session.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Nifty Overview & Outlook
The benchmark Nifty index closed on a positive note, settled above 18800 levels after adding 61 points to its previous closing values after highly volatile trading session.
Broader market performed in line with the benchmark as Mid & Small cap index were up over 0.50% each. The market breadth was skewed in favor of bulls as nearly 1.5 advances were recorded for every declining share at NSE.
Majority of sectoral indices tracked at NSE settled in green. Nifty Auto, IT, Metal, and Realty Index settled higher in range 0.49% to 0.78% each. On the other hand, Nifty Media and Healthcare index witnessed some selling pressure, down 1.26% and 0.26% respectivly.
Going ahead, we reiterate our bullish view on the Nifty and suggest traders to maintain buy on dips trading strategy till it is holding above 18400 levels on closing basis.
Derivatives Overview & Outlook
Yeterday, Nifty futures shed around 1% of open interest as long unwinding whereas Banknifty and Finnfity futures added around 1% & 11% of open interest respectively as short buildup.
On sectoral front, short buildup was seen among Infra and Oil & Gas stocks whereas some long buildup was seen among Finance and Pharma stocks.
On options front, call writing was seen at multiple strikes and maximum positions are at 18700 PE and 19000 CE closely followed by 18800 CE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 1031 Cr in the cash segment, sold stocks futures worth Rs 1883 Cr and also sold index futures worth Rs 1325 Cr. DIIs too were net sellers in the cash segment to the tune of Rs 365 Cr.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty – Resistances 18950-19025; Supports 18800-18740
Banknifty – Resistances 44150-44550; Supports 43650-42400
Finnifty – Resistances 19600-19660; Supports 19400-19300
Disclosure
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Globe Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. Rolex Finvest Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited and Lakshya Impex Private Limited are associates of GCML.
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