0 Daily News Letter - ShareMarket

Markets opened on a weak note on the back of sharp profit-taking in US Markets which also led to other global markets reacting negatively. The opening range was close to previous session lows from where markets saw slight recovery but still benchmark indices closed in red which happened first time in last 7 sessions. 5680 lev-els are acting as good support and one needs to watch this level for near term sustenance of uptrend. Any close below this level may lead to further retracement of gains. Capital Goods index was the top losing index among BSE sector indices while Realty and Auto outperformed rising more than 1% each. Market breadth remained on negative side.

  • India VIX has further corrected by 1.99% to close at 14.22 levels; near to the bottoms levels of 13.5 it made in last week.
  • Automobile, Oil & Gas, Pharma and Telecom sectors have witnessed some amount of volume participation in today’s trade. Banking and Realty were the only two sectors which ended positive with results to be an-nounced of SBI tomorrow and DLF on Monday.
  • FIIs were net buyers in the cash segment to the tune of | 261 crore. They were,however, sellers in Index futures and stock futures to the tune of approximately | 400 crore each
  • Options : on the Call side, Nifty 6100 Call saw closure of 1 million shares whereas Nifty 5700 and 5800 Call saw addition of 0.55 million shares each. On the Put side, shifting of OI in the Nifty was observed from 5800 Put to 5700 Put

Nifty: The Nifty is likely to open flat to negative on the back of negative global cues. It is likely to trade in the range of 5725-5800. The trading strategy would be to create long positions if the Nifty takes support at around 5735 levels for targets of 5770 and 5790. On the other hand, one can also create short positions if it resists at around 5800 levels
Bank Nifty: The Bank Nifty is likely to trade in the range of 11580-11750


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