0 Daily News Letter - Share Market

Nifty (5649.50 -13.95)

In today’s session, index failed to trigger any directional move despite expiration of F&O contracts. It finally closed marginally on negative note with almost flat market breadth to conclude the session. The movement remained mixed on sectorial front as defensive pack like FMCG and Consumer durable gained more than a percent each while Oil & Gas and IT ended at the bottom. From the past few sessions, global markets are witnessing profit taking while our markets has ignored those cues due to impending expiry but now as it over today; we might see some profit taking in the next session. Accordingly, one should book partial profit and keep on trailing your stop losses but shorting is still not advisable as the overall trend is up.

At the National Stock Exchange the advances were 753 and declines were 747 whereas at the Bombay Stock Exchange advances were 1516 and declines were 1336. On Thursday, Bank Nifty lost 0.07% to close at 11419.45; CNX-IT lost 1.00% to close at 6285.20.

FIIs were net sellers in the stock futures segment to the tune of | 187 crore. They were, however, net buyers in the cash segment and index futures segment to the tune of | 400 crore and | 372 crore, respectively
Options : on the Call side, 5700 Call added 1 million shares. On the Put side, 5200 and 5300 Put added 1.4 million shares and 2.3 million shares, respectively. In the options space, on the Call side, highest OI is seen at the 5700 and 5800 Call with 4.4 million shares each while on the Put side highestOI is seen at the 5400 Put and 5500 Put with 2.9 million shares each.

Nifty: The Nifty is likely to open positive on the back of positive global cues. It is likely to trade in the range of 5630-5720. The trading strategy would be to create long positions if the Nifty takes support at around 5644 levels for targets of 5685 and 5710. On the other hand, one can also create short positions if it resists at around 5720 levels
Bank Nifty: The Bank Nifty is likely to trade in the range of 11450-11650

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