Nifty opened down 30 point and traded in a narrow range throughout the day. Benchmark Nifty index settled lower at 17764 levels, down 89 points from its previous closing values.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Broader markets outperformed the benchmark as Mid and Small cap index rose 0.74 and 0.54% respectively.
On the sectoral front, Metal index was worst performer, fell 2.20% followed by Energy and IT that was down 0.71% & 0.61% respectively. On the other hand, Realty and FMCG index settled in green, up 0.52% and 0.56% respectively.
Technically, Nifty’s support is shifting upwards forming higher lows and higher highs formation. Going ahead, crossover and sustenance above 17925-mark, will open the doors for further up move till 18180 and higher levels in immediate near term.
Derivatives Overview & Outlook
Yesterday, Nifty futures & Banknifty futures added around 3.5% & 8.5% of open interest respectively as short buildup.
On the sectoral front, long buildup was seen among Telecom, Pharma, Chemicals and Oil & Gas stocks whereas short buildup was seen among Metal stocks.
On options front, call writing was seen at multiple strikes and maximum positions are at 18000 CE and 17600 PE closely followed by 17000 PE.
FII & DII Trading Activity
Yesterday, FIIs further sold stocks worth Rs 1218 Cr in the cash segment, sold stocks futures worth Rs 65 Cr and also sold index futures worth Rs 2192 Cr. DIIs were net buyers in the cash segment to the tune of Rs 1203 Cr.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty Futures – Resistances 17880-17930; Supports 17740-17640
Banknifty Futures – Resistances 41875-42250; Supports 41150-40760
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