Nifty Overview & Outlook

The benchmark Nifty index opened with gap on higher side and settled higher above 19500 levels after adding 135 points to its previous closing values.

Broader markets perform in line with the benchmark as Mid and Small cap index were up by 0.79% and 0.76% respectively. Market breadth was heavily inclined towards the advancing side as nearly 2 advances were recorded for every declining share at NSE.

Majority of sectoral indices tracked at NSE settled in green. Nifty IT and Pvt Bank were at the top of the tally, gained 1.55% and 1.25% respectively followed by Consumer Durable and Pharma index that rose 1% each. On the other hand, PSU Bank index were the worst performer down 0.70%.

Going ahead, we reiterate our sideways to negative view on Nifty index till it is trading below 19800 levels on closing basis.

Derivatives Overview & Outlook

On Friday, long build-up was seen in Nifty futures with rise in open interest by 3.6%. Short covering was seen in Banknifty futures and Finnifty futures with decrease in open interest by 2.1% and 13.9% respectively.

Majority of F&O sectors settled higher. Amongst them, Capital Goods, Finance and Media stocks witnessed maximum addition of long positions whereas some short buildup was seen in Oil & Gas and Textile shares.

On options front, put writing was seen at multiple strikes and maximum positions are at 19600 CE and 19400 PE.

Institutional Trading Activity

Last week, FIIs sold stocks worth Rs 2589 Cr in the cash segment, sold stocks futures and index futures worth Rs. 6195 Cr and Rs 3972 Cr respectively. DIIs were net buyer in the cash segment to the tune of Rs 5618 Cr during the week.

Nifty Futures, Banknifty Futures and Finnifty Key Levels

Nifty – Resistances 19615-19680; Supports 19380-19335

Banknifty – Resistances 45160-45370; Supports 44450-44280

Finnifty – Resistances 20190-20240; Supports 19880-19810

F&O stocks in ban today: GNFC, HINDCOPPER, IBULHSGFIN, PEL

Important Results Today: BARBEQUE, EMAMILTD, GLAND, GNFC, GODREJCP, INDIACEM, OLECTRA, POLICYBZR, RAMCOCEM, TATACHEM, TORNTPHARM, UJJIVAN, WHIRLPOOL

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