Nifty Overview & Outlook

The benchmark Nifty index extended losses for the second consecutive trading session and settled below 19700 levels, down 72 points from its previous closing values after highly volatile trading session.

Broader market outperformed the benchmark as Midcap & Small cap index ended on a flat to positive note against 0.37% decline of frontline index; resultant, flat market breadth.

Performance on the sectoral front was mix. Amongst them, Nifty Healthcare and Pharma was the top performer, rose nearly 0.5% each. On the other hand, Nifty FMCG index was at the bottom of the tally, down 1.72% followed by Nifty Metal and Oil & Gas index that were down 0.7% each.

Technically, Nifty index closed below important psychological support i.e. 19700 levels. The immediate support for Nifty index is placed around 19500 levels and resistance is still around 19900 levels. Going ahead, we expect it to move sideways in near term till it is trading in 19500-19900 levels.

Derivatives Overview & Outlook

Yesterday, short buildup was seen in Nifty future and Finnifty future as both added around 1% and 12% respectively, Banknifty future decreased 8% of open interest as long unwinding.

On the sectoral front, fresh long buildup was seen among Capital Good, Finance, Media and Infra stocks whereas some short buildup was seen in Banking, Metals, Oil & Gas shares.

On options front, call writing was seen at multiple strikes and maximum positions are at 19800 CE and 19700 PE.

Institutional Trading Activity

Yesterday, FIIs sold stocks worth Rs 83 Cr in the cash segment, bought stocks futures and index futures worth Rs 1098 Cr and 316 Cr respectively. DIIs were net buyer in the cash segment to the tune of Rs 935 Cr.

Nifty Futures, Banknifty Futures and Finnifty Key Levels

Nifty – Resistances 19850-19930; Supports 19555-19480

Banknifty – Resistances 46330-46500; Supports 45530-45400

Finnifty – Resistances 20630-20690; Supports 20360-20290

F&O ban list today: CANBK, DELTACORP, IBUHSGFIN, PNB, RBLBANK

Important Results Today: ASIANPAINT, BAJAJ-AUTO, CEATLTD, DELTACORP, DIXON, JUBLFOOD, KPITTECH, LT, SBILIFE, TATAMOTORS, UTIAMC

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