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Tuesday, 1 August 2017

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

Nifty is likely to open flat on the back of mixed global cues. Buy Nifty in the range of 10070-10080 for target of 10130, stop loss: 10050, says ICICIdirect.

Future trading tipsNifty

After a steady start, the Nifty witnessed more gains and ended near the highest point of the day. With participation by almost all sectors (except FMCG and pharma), the index ended 60 points higher. Nifty futures ended at a premium of 26 points. India VIX rose 7.2 percent and ended at 11.9.

FIIs sold Rs 1197 crore while DIIs bought Rs 1768 crore in the cash segment. FIIs sold Rs 426 crore in index futures and bought Rs 1281 crore in index options. In stock futures, they bought Rs 202 crore.

The highest Put base is at the 10000 strike with 44 lakh shares while the highest Call base is at the 10500 strike with 44 lakh shares. The 10400 and 10500 Call strikes saw additions of 1.6 and 1.4 lakh shares, respectively, while the 9900 and 10000 Put strike saw additions of 8.0 and 7.1 lakh shares, respectively.

Nifty Bank

A sharp move was seen on upside where on the back of fresh long accumulations, the index ended well above 25100. As the index moved higher option OI has shifted to OTM strike Calls whereas activity remained high in 25000 strike Put.

Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Buy Nifty in the range of 10070-10080 for target of 10130, stop loss: 10050.

Nifty Bank Future: A sharp move was seen on upside where on the back of
fresh long accumulations, the index ended well above 25100. As the index
moved higher option OI has shifted to OTM strike Calls whereas activity
remained high in 25000 strike Put. Buy Nifty Bank in the range of 24980-25030, target: 25170-25270, stop loss: 24900.

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