Friday, 4 August 2017

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

According to ICICIdirect, Nifty is likely to open flat on the back of mixed global cues and advises selling the Index in the range of 10075-10085 for target of 10025 with stop loss at 10105.

INTRADAY NSE NIFTY TIPSNifty

With bears taking charge for a second consecutive day, the Nifty ended 70 points lower with all major indices also closing in the red. Nifty futures ended at a premium of 29 points. India VIX fell 1.7 percent and ended at 11.7.

FIIs bought Rs 24 crore while DIIs sold Rs 389 crore in the cash segment. FIIs sold Rs 369 crore in index futures and bought Rs 199 crore in index options. In stock futures, they bought Rs 191 crore.

The highest Put base is at the 10000 strike with 46 lakh shares while the highest Call base is at the 10500 strike with 41 lakh shares. The 10300 and 10500 Call strikes saw additions of 8.7 and 4.7 lakh shares, respectively, while the 10000 and 10100 Put strike saw reductions of 2.1 and 1.6 lakh shares, respectively.

Nifty Bank

Aggressive profit booking was seen in the index where the open interest fell nearly 9 percent. Futures premium has widened to 132 points with OI shifting to 24500 strike Puts indicating a leg of profit booking is likely to extend towards a sizable Put base in coming days.

Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 10075-10085 for target of 10025, stop loss: 10105.

Nifty Bank Future: Aggressive profit booking was seen in the index where the open interest fell nearly 9 percent. Futures premium has widened to 132 points with OI shifting to 24500 strike Puts indicating a leg of profit booking is likely to extend towards a sizable Put base in coming days. Sell Nifty Bank in the range of 24950-25000, target: 24850-24750, stop loss: 25100.

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