0 Daily News Letter - ShareMarket

Nifty (5665.60 +1.30)

After opening marginally in green, Index kept holding within the prevailing range and closed almost unchanged in the end. In first half of the session, it retested previous dya high zone i.e. 5700 level but failed to breach the same and slipped to the 5645 level in the end. Though the market breadth was flat in the initial stage it gradually slipped in the red as the day progressed and closed on the declining side. In line with lacklustre move on broader front, sectorial indices too failed to prompt any major move and majority ended flat in the end. As we have mentioned earlier, this prolonged consolidation may end in near term & considering the current formation on intraday basis; next two sessions would be decisive for the subsequent
directional move.

At the National Stock Exchange the advances were 562 and declines were 939 whereas at the Bombay Stock Exchange advances were 1234 and declines were 1604. On Monday, Bank Nifty lost 0.32% to close at 11472.15; CNX-IT gained 0.12% to close at 6032.45.

  • FIIs were net sellers in the cash segment to the tune of | 77 crore. They were also net sellers in stock futures and index futures to the tune of | 31 crore and | 121 crore, respectively. They, however, bought options worth | 1172 crore in the index options segment
  • India VIX moved up from 14.21 to 15.12 (up 6.40%)
  • Options : On the Call side, Nifty 6000 Call added 0.66 million shares followed by 5800 and 5900 Call, which added 0.45 million shares. On the Put side, Nifty 5200 and 5400 Put added 0.7 million shares followed by 5300 Put, which added 0.55 million shares

Nifty: The Nifty is likely to open flat on the back of flattish Asian cues. It is likely to trade in the range of 5665-5740. The trading strategy would be to create short positions if the Nifty resists at around 5730 levels for targets of 5695 and 5675. On the other hand, one can also create long positions if it takes support at around 5665 levels
Bank Nifty: The Bank Nifty is likely to trade in the range of 11500-11800


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