Wednesday, 15 July 2015

Nifty may open on positive note: ICICIdirect


Nifty is likely to open positive on the back of positive global cues. It is likely to trade in the range of 8420-8520, says a report by ICICIdirect.

The Nifty remained lacklustre throughout the day on the back of retail inflation data, crippling rate cut hopes. Nifty future premium fell and settled at 12 points. India VIX fell 1.6 percent to settle at 16.01.

FIIs bought Rs 270 crore while DIIs sold Rs 131 crore in the cash segment. FIIs bought Rs 889 crore in index futures and Rs 912 crore in index options. In stock futures, they sold Rs 428 crore.

The highest Put base is at the 8300 strike with 55 lakh shares while the highest Call base is at the 8500 strike with 47 lakh shares. The 8500 and 8400 Calls saw reductions of 1.1 and 4 lakh shares, respectively. The 8500 and 8400 Put strikes saw additions of 1.3 and 4.1 lakh shares, respectively.

Nifty Future: The Nifty is likely to open positive on the back of positive global cues. It is likely to trade in the range of 8420-8520. Buy Nifty in the range of 8440-8450 for targets of 8480-8500 and stop loss at 8425.

Bank Nifty Future: The index has been facing difficulty in surpassing the highest Call base of 19000. However, activity in the OTM Put is also intact while 18500 is likely to act as a strong support. However, any close above 19000 would open the gates for higher targets. Buy Bank Nifty in the range of 18690-18730 for targets at 18850-19000 and stop loss at 18630.

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2 comments:

Allianceresearch Jabalpur said...

Buy Bank Nifty Fut above 18906 TGT 18942 & 18988 SL 18861-

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