ICICIdirect's Derivative Report:
Post a flat start, the Nifty
saw decent buying and finally surpassed the crucial level of 8200 on the back of fresh long accumulations. With banking leading the chart, the index ended 82 points higher. Nifty futures premium settled at 35 point. India VIX fell 4.9 percent to 16.9.
FIIs sold Rs 434 crore while DIIs bought Rs 677 crore in the cash segment. FIIs bought Rs 659 crore in index futures and Rs 481 crore in index options. In stock futures, they bought Rs 371 crore.
The highest Put base is at the 8000 strike with 74 lakh shares while the highest Call base is at the 8300 strike with 43 lakh shares. The 8400 and 8600 Call strikes saw additions of 3.6 and 1.4 lakh shares, respectively while the 8200 and 8300 Put strikes saw additions of 3.1 and 1.8 lakh shares, respectively.Nifty Future:
The Nifty is likely to open positive on the back of mixed global cues. Sell Nifty in the range of 8290-8300 for targets of 8240, stop loss: 8320.Bank Nifty Future
: Aggressive short covering was seen just a day prior to the weekly contract expiry. The open interest base has tilted towards the lower band and the index has finally managed to end well above 18700 indicating the current leg of short covering is likely to continue. Buy Bank Nifty in the range of 18500-18550, targets: 18650-18800, stop loss: 18430.Disclaimer
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