Benchmark Nifty index settled lower at 17758 levels after a cut of 200 points from its previous closing values.
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Nifty Outlook
Benchmark Nifty index settled lower at 17758 levels after a cut of 200 points from its previous closing values.
Broader markets too performed inline with benchmark as Mid and Small Cap index ended lower over 1% each.
Barring IT, all sectoral indices settled lower. PSU Bank index was at the bottom of the tally, fell 2.66% followed by Realty and PVT Bank index that fell nearly 2% each.
Nifty index witnessed profit taking after facing resistance near 18000 levels. Going ahead, 17600-17500 is an important support on the down side whereas 18000 will act as immediate hurdle on the higher side.
Derivatives Overview & Outlook
Last week, both Nifty & Banknifty futures shed around half a percent of open interest each as long unwinding.
All F&O sectors settled lower. Amongst them, Telecom, Media and Capital Goods stocks witnessed additions of short positions where most of the indices were down on profit booking.
On options front, call writing was seen at multiple strikes and maximum positions are at 18000 CE & 17000 PE.
FII & DII Trading Activity
On Friday, FIIs bought stocks worth Rs 23139 Cr in the cash segment, sold stocks futures worth Rs 2504 Cr and also sold index futures worth Rs 3067 Cr. DIIs were net sellers in the cash segment to the tune of Rs 1808 Cr during the week.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty Futures – Resistances 17830-17950; Supports 17680-17600
Banknifty Futures – Resistances 39350-39650; Supports 38690-38350
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