Friday, 7 July 2017

Nifty to open flat on back of mixed global cues: ICICIdirect

Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 9685-9695 for target of 9635-9620, stop loss: 9715, says a report by ICICIdirect.

nse intraday trading tipsNifty

Supported by most heavyweights, the Nifty regained 9700. However, sustaining above and moving above 9700 was difficult. On the back of selling towards the end, the index ended only 37 points higher. Nifty futures ended at a discount of 2 points. India VIX fell 1.5 percent and closed at 10.9.

FIIs sold Rs 15 crore while DIIs bought Rs 316 crore in the cash segment. FIIs sold Rs 544 crore in index futures and bought Rs 1516 crore in index options. In stock futures, they bought Rs 896 crore.

The highest Put base is at the 9500 strike with 65 lakh shares while the highest Call base is at the 9700 strike with 37 lakh shares. The 9500 and 9600 Call strikes saw reductions of 2.7 and 1.2 lakh shares, respectively, while the 9700 and 9600 Put strike saw additions of 6.4 and 8.4 lakh shares respectively.

Nifty Bank

Nifty Bank moved out of its narrow consolidation range in the last session but failed to sustain above 23500. Recovery in PSU banking helped the index to move towards these levels. Ongoing fresh long additions are likely to keep the momentum in the banking index. Declines should be utilised for buying.

Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 9685-9695 for target of 9635-9620, stop loss: 9715.

Nifty Bank Future: Nifty Bank moved out of its narrow consolidation range in the last session but failed to sustain above 23500. Recovery in PSU banking helped the index to move towards these levels. Ongoing fresh long additions are likely to keep the momentum in the banking index. Declines should be utilised for buying. Buy Nifty Bank in the range of 23300-23350, target: 23500-23600, stop loss: 23220.

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: