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Oct 12, 2017 09:21 AM IST | Source: Moneycontrol.com

Markets likely to move up: Dynamic Levels

Market to be in buy zone, unless Nifty & Small Cap trades below previous day's low while if a Nifty and Small Cap trade below its previous day’s low of 9956 and 7797, then further selling may be seen in the market, says Dynamic Levels.

Markets likely to move up: Dynamic Levels

Dynamic Levels' Market Outlook:

Market to be in buy zone, unless Nifty & Small Cap trades below previous day's low. Yesterday, the Indian market witnessed heavy selling from 13.10. The Benchmark Index Nifty made a previous day low of 9956 after making a high of 10067 and finally closed at 9985.

The Small Cap Index also fell by 213 points from its high of 8010 and made a low of 7797. The Index finally closed at 7848. The FII and PRO in combined have sold 52272 contracts in Index Options. However in the current expiry they have a buy position of 72468 contracts.

If a Nifty and Small Cap trade below its previous day’s low of 9956 and 7797, then further selling may be seen in the market.

Among the major sectors, chemicals, metals and mining and energy oil and gas were up by more than 1.5 percent from their day’s low. Among the minor sectors, carbon, telecom and sugar showed buying from day’s low.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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