Thursday, 9 March 2017

See gap down opening led by weak global cues: ICICIdirect

According to ICICIdirect, Nifty is likely to open gap down on the back of weak global cues. 

Nifty

The Nifty witnessed high volatility where it saw swings on both sides and finally ended another 23 points lower. Nifty futures settled at a premium of 28 points. India VIX rose 1.5% and ended at 14.1.

FIIs bought Rs 3573 crore while DIIs sold Rs 1735 crore in the cash segment. FIIs bought Rs 292 crore in index futures and Rs 477 crore in index options. In stock futures, they sold Rs 1200 crore.

The highest Put base is at the 8800 strike with 42 lakh shares while the highest Call base is at the 9000 strike with 52 lakh shares. The 9200 and 9300 Call strikes saw additions of 5.4 and 3.3 lakh shares, respectively, while 8700 and 8900 Put strikes saw additions of 4.1 and 3.9 lakh shares, respectively.

Nifty Bank 

Despite a sharp fall in the first half of the session, the index witnessed decent support near 20550 from where it rallied nearly 230 points. Long participation in HDFC Bank along with few other midcap banks is likely to provide a cushion to the index near the sizeable Put base of 20500.

Nifty Future: The Nifty is likely to open gap down on the back of weak global cues. Sell Nifty in range of 8960-8970 for targets of 8910-8890, stop loss: 8990.

Nifty Bank Future: Despite a sharp fall in the first half of the session, the index witnessed decent support near 20550 from where it rallied nearly 230 points. Long participation in HDFC Bank along with few other midcap banks is likely to provide a cushion to the index near the sizeable Put base of 20500. Buy Nifty Bank in the range of 20530-20580, targets: 20680-20780, stop loss: 20450.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
www.Bigprofitbuzz.com




No comments: