- US equity markets ended mix, Nasdaq ended on a flat to negative note while Dow Jones was up by 0.80%
- European equity markets also settled on a mix note
- Majority of Asian equity markets are trading in green
- SGX Nifty is little changed (as on 8:30 AM)
The benchmark Nifty index extended gains for the third straight trading session, settled at its all-time highs i.e. 18972 levels after adding over 150 points to its previous closing values.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Nifty Overview & Outlook
The benchmark Nifty index extended gains for the third straight trading session, settled at its all-time highs i.e. 18972 levels after adding over 150 points to its previous closing values.
Midcap index performed in line with the benchmark while Small cap index underperformed the benchmark as it was up by 0.37%; resultant, market breadth was almost flat.
All the sectoral indices, barring Nifty Media, tracked at NSE settled in the green. Amongst them, Nifty Pharma & Metal was at the top of the tally rose nearly 1.50% followed by Healthcare and Auto index that were up 1.06% and 0.75% respectively.
Technically, Nifty witnessed breakout from its congestion zone (18500-18900 levels) and settled at its all-time highest levels. Going ahead we reiterate our bullish view on the Nifty index and we suggest traders to maintain buy on dips trading strategy till it is holding above 18650 levels on a closing basis.
Derivatives Overview & Outlook
On Wednesday, Nifty and Banknifty futures shed around 19% & 23% of open interest respectively as short covering on expiry day whereas Finnifty futures added around 28% of open interest as fresh long buildup.
Nifty futures rolled 76% of open interest into next contracts which was higher than the previous month’s rollover of 70% while Banknifty futures rolled 79% of open interest into next contracts which was in-line with previous month’s rollover of 78%.
On options front, Nifty will start the new weekly contract with maximum positions at 18900 PE and 19500 CE.
Institutional Trading Activity
During the week, FIIs bought stocks worth Rs 13832 Cr in the cash segment, bought stocks futures worth Rs 1611 Cr and also bought index futures worth Rs 2276 Cr. DIIs were net sellers in the cash segment to the tune of Rs 2762 Cr during the week.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty – Resistances 19075-19150; Supports 18900-18840
Banknifty – Resistances 44550-44800; Supports 44150-43900
Finnifty – Resistances 19900-20000; Supports 19700-19600
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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