Nifty index ended lower after a volatile trading session, closed shop at 17721, down 43 points.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Broader markets settled on flat to negative note, Mid cap index was flat while Small cap index lost 0.71%, leading to extremely weak market breadth.
Nifty Realty performed well today by ending almost with 1% gains. On the other hand, Nifty FMCG and AUTO index leads the decline, ended lower by more than 1% each.
Nifty index is trading in a narrow range i.e. 17600 – 17900 range for past couple of sessions. Going ahead, 17925 is the next immediate resistance on the higher side, once that is taken out we can expect a sharp move up to 18100 and higher levels in short term.
Derivatives Overview & Outlook
Yesterday, both Nifty and Banknifty futures remained almost unchanged on the price front whereas on open interest front Nifty futures added around 2% of open interest and Banknifty futures shed around 3% of open interest.
On the sectoral front, short buildup was seen among Auto, Chemicals and Pharma stocks whereas some long buildup was seen among Cement and Oil & Gas stocks.
On options front, call writing was seen at multiple strikes and maximum positions are at 18000 CE and 17000 PE closely followed by 17500 PE.
FII & DII Trading Activity
Yesterday, FIIs further sold stocks worth Rs 2560 Cr in the cash segment, sold stocks futures worth Rs 240 Cr and bought index futures worth Rs 89 Cr. DIIs were net buyers in the cash segment to the tune of Rs 840 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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