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Mar 20, 2017 08:42 AM IST | Source: Moneycontrol.com

Nifty may open on flat to negative note led by mixed global cues: ICICIdirect

According to ICICIdirect, Nifty is likely to open flat to negative on the back of mixed global cues.

Nifty may open on flat to negative note led by mixed global cues: ICICIdirect

ICICIdirect's Derivative Report:

Nifty

The Nifty saw a muted performance due to profit booking on the higher side as it witnessed closure of open interest for the first time during the week. With stock specific action it ended only 5 points higher. Nifty futures settled at a premium of 12 points. India VIX fell 0.5 percent and ended at 11.8.

FIIs bought Rs 1533 crore while DIIs sold Rs 712 crore in the cash segment. FIIs sold Rs 137 crore in index futures and bought Rs 834 crore in index options. In stock futures, they sold Rs 425 crore.

The highest Put base is at the 8800 strike with 60 lakh shares while the highest Call base is at the 9200 strike with 58 lakh shares. The 9000 and 9100 Call strikes saw reductions of 2.7 and 3.4 lakh shares, respectively, while 9100 and 9200 Put strikes saw additions of 6.7 and 6.4 lakh shares, respectively.

Nifty Bank

The index continued to trade in a range above 21300 but finally ended marginally lower on the back of profit booking. On the option front, 21000 strike Put added decent shares in open interest indicating decent support.

Nifty Future: The Nifty is likely to open flat to negative on the back of mixed global cues. Sell Nifty in the range of 9190-9200 for targets of 9140-9120, stop loss: 9220.

Nifty Bank Future: The index continued to trade in a range above 21300 but finally ended marginally lower on the back of profit booking. On the option front, 21000 strike Put added decent shares in open interest indicating decent support. Buy Nifty Bank in the range of 21050-21100, targets: 21200-21300, stop loss: 20080.

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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