Nifty Overview & Outlook

The benchmark Nifty index ended on a flat note at 19680 levels with marginal gains of 8 points to its previous closing values after highly volatile trading session.

Nifty Midcap outperformed the benchmark as it was up by 0.40% while Small-cap index settled on a flat to negative note; resultant, flat market breadth.

Majority of sectoral indices tracked at NSE settled in green. Amongst them, Nifty Metal index was at the top of the tally, soared nearly 3% followed by Media index that was up 1.51%. On the other hand, Nifty PSU Bank and FMCG witnessed some selling pressure down nearly 1.5% & 1% respectively.

Technically, Nifty index is trading in a range for past couple of sessions. Going ahead, we reiterate our short term sideways view on Nifty index till it is trading in 19500-19900 levels.

Derivatives Overview & Outlook

Yesterday, no meaningful activity was seen among Nifty and Banknifty futures on the price front whereas on open interest front Nifty futures added around 3% of open interest and Banknifty futures shed around 7% of open interest. Finnifty future shed around 44% of open interest as long unwinding.

On the sectoral front, long buildup was seen among Infra, Metals, Oil & Gas and Textile stocks whereas some short buildup was seen among Chemicals and Realty stocks.

On options front, call writing was seen at multiple strikes along with put writing at multiple strikes and maximum positions are at 19800 CE and 19500 PE.

Institutional Trading Activity

Yesterday, FIIs bought stocks worth Rs 1089 Cr in the cash segment, bought stocks futures worth rs 2267 Cr and sold index futures worth Rs 1060 Cr. DIIs were net seller in the cash segment to the tune of Rs 334 Cr.

Nifty Futures, Banknifty Futures and Finnifty Key Levels

Nifty – Resistances 19850-19930; Supports 19560-19490

Banknifty – Resistances 46220-46350; Supports 45550-45430

Finnifty – Resistances 20640-20710; Supports 20330-20250

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

Important Results Today: AXISBANK, BAJFINANCE, BPCL, CIPLA, COLPAL, DEEPAKFERT, DRREDDY, KAJARICER, OFSS, PNB, RECLTD, TATACONSUM, TECHM

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