Nifty likely to witness further buying: Dynamic Levels
In the current expiry, FII and PRO in combined have a buy position of 228158 contracts in Index Options which indicates further buying in the Index, says Dynamic Levels.
Dynamic Levels' Market Outlook:
Huge Buy In Index Options By FII And PRO
Yesterday, the Indian Benchmark index Nifty witnessed a sharp rally and zoomed by 1.81 percent. The index opened at 10011 and gave sharp buying of 127 points after making a low of 9977 to finally close the index at 10096.
In the current expiry, FII and PRO in combined have a buy position of 228158 contracts in Index Options which indicates further buying in the Index.
Indian rupee strengthened for fourth sessions to close at a one week high against the US dollar. The rupee closed at 65.05 against US dollar up by 0.18 percent.
The small cap Index too witnessed a steep surge by 1.18 percent from its previous day close. The index open at 7903 and closed at 7940 after making a low of 7858.
Among the major sectors, Metals and Mining was in top performers last day. Sun Flag Iron was the outperformer in the sector, which made an all time high of Rs.83.40. Among the minor sectors, telecom was in top performers' list. Sterlite Technologies was the outperformer in the sector, which made an all time high of Rs.274.50.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.