Tuesday, 6 June 2017

Nifty to open flat led by mixed global cues: ICICIdirect

Nifty is likely to open flat on the back of mixed global cues. Buy Nifty in range of 9665-9675 for targets of 9725-9745, stop loss: 9643, according to ICICIdirect.

Nifty

The Nifty approached the highest Call base level of 9700 for the first time in the series. However, on the back of selling in a few midcap stocks, the index ended only 22 points higher. Nifty futures ended at a premium of 11 point. India VIX rose 1.9 percent, ending at 11.

FIIs bought Rs 477 crore while DIIs bought Rs 14 crore in the cash segment. FIIs bought Rs 195 crore in index futures and Rs 804 crore in index options. In stock futures, they bought Rs 477 crore.

The highest Put base is at the 9500 strike with 64 lakh shares while the highest Call base is at the 9700 strike with 47 lakh shares. The 9800 and 9900 Call strikes saw additions of 2.8 and 3.3 lakh shares, respectively, while the 9700 and 9600 Put strikes saw additions of 5.5 and 10.6 lakh shares, respectively.

Nifty Bank

Slowly and steadily, the index moved above 23400 in the previous trade. As tomorrow the RBI unveils its monetary policy, we may see a trigger in volatility. However, cash based buying can be seen by FIIs, which will take the index higher. A close above 23500 would open the gates for another 300-400 points upside.

Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Buy Nifty in range of 9665-9675 for targets of 9725-9745, stop loss: 9643.

Nifty Bank Future: Slowly and steadily, the index moved above 23400 in the previous trade. As tomorrow the RBI unveils its monetary policy, we may see a trigger in volatility. However, cash based buying can be seen by FIIs, which will take the index higher. A close above 23500 would open the gates for another 300-400 points upside. Buy Nifty Bank in the range of 23270-23320, targets: 23400-23500, stop loss: 23190.

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: