Nifty index settled at 18127 levels after a cut of 72 points from its previous closing values after a volatile trading session.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Tracking positive cues from the global peers, benchmark Nifty index opened with a gap on the higher side but failed to hold at the higher levels and finally settled at 18127 levels after a cut of 72 points from its previous closing values after a volatile trading session.
Broader markets underperformed the benchmark as Mid and Small cap index fell 0.53% & 1.61% respectively. Resultant, market breadth was tilted towards the declining side as over 1800 declines were recorded against 430 advances at NSE.
All sectoral indices tracked at NSE settled in red. Nifty Realty was the worst performer; fell 1.42% followed by PSU bank index that fell 1.23%.
Going ahead, we suggest traders to maintain sell on rise trading strategy till index is trading below 18500 spot levels. On the down side, supports are placed at 17900-17800 levels.
Derivatives Overview & Outlook
Yesterday, no significant activity was seen in Nifty & Banknifty futures on open interest front.
Majority of F&O sectors settled lower. Amongst them, Power, Realty and Finance stocks witnessed maximum addition of short positions whereas some long unwinding was seen among Infra and Textile stocks.
On options front, Nifty will start the new weekly contract with maximum positions at 18000 PE and 19000 CE.
FII & DII Trading Activity
Yesterday, FIIs bought stocks worth Rs 929 Cr in the cash segment, bought stocks futures worth Rs 738 Cr and sold index futures worth Rs 651 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2207 Cr.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty Futures – Resistances 18250-18350; Supports 18050-17950
Banknifty Futures – Resistances 42750-43000; Supports 42200-41900
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