Tuesday, 29 November 2016

Nifty Dec Futures to open at 8154: Dynamic Levels

According to a report by Dynamic Levels, Nifty Dec Futures is expected to open at 8154 as per SGX Nifty at 8:30 am IST, which is 11 points above its previous close of 8143. 


Indian benchmark Index Nifty saw a sharp upside rally of 90 points from a low of 8078 to make a high of 8148 and finally closed at 8143. The market fears of demonetization and its negative effects on economy seem to have subsided as the broader Indices like Small Cap and Bank Nifty continue outperforming Nifty. After RBI's latest move to curb excess liquidity with the banks, it was expected to put some pressure on the markets especially the banking shares, which may get the worst hit. Irrespective of all the odds, Indian Indices maintained their strength throughout the trading yesterday.

Nifty Futures, if trades convincingly above 8138, its previous week high, the next target as per Dynamic Levels is 8287.

FII have been net sellers on the cash markets but past two days there has been some buying in NSE Small Cap Index which has risen up by 300 points from low of 5408. However, FII have ended the month of November with a net selling in the cash market worth Rs. 17023 Cr, the highest single month sell figures for the year 2016.

Nifty Dec Futures is expected to open at 8154 as per SGX Nifty at 8:30 am IST, which is 11 points above its previous close of 8143.

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