Moneycontrol
you are here: HomeNewsBusiness
Jun 16, 2017 09:12 AM IST | Source: Moneycontrol.com

Nifty to open flat on back of mixed global cues: ICICIdirect

Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 9620-9630 for targets of 9570-9550, stop loss: 9650, says a report by ICICIdirect.

Nifty to open flat on back of mixed global cues: ICICIdirect

ICICIdirect's Derivative Report:

Nifty

The Nifty continued to remain choppy throughout the day and finally ended 40 points lower. Nifty futures ended at a premium of 23 point. India VIX rose 1.3 percent, ending at 11.3.

FIIs sold Rs 645 crore while DIIs bought Rs 855 crore in the cash segment. FIIs sold Rs 578 crore in index futures and bought Rs 927 crore in index options. In stock futures, they sold Rs 1007 crore.

The highest Put base is at the 9500 strike with 73 lakh shares while the highest Call base is at the 9700 strike with 69 lakh shares. The 9600 and 9700 Call strikes saw additions of 5.3 and 9.8 lakh shares, respectively, while the 9600 and 9300 Put strikes saw closures of 5.1 and 2.3 lakh shares, respectively.

Nifty Bank

Nifty Bank index continued to stay under pressure for a major part of the day. However, some pullback was seen towards the end on account of performance of private sector banks but it remained well below the hurdle of 23500. We feel selling in banking stocks is likely to continue.

Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 9620-9630 for targets of 9570-9550, stop loss: 9650.

Nifty Bank Future: Nifty Bank index continued to stay under pressure for a major part of the day. However, some pullback was seen towards the end on account of performance of private sector banks but it remained well below the hurdle of 23500. We feel selling in banking stocks is likely to continue. Sell Nifty Bank in the range of 23500-23550, targets: 23400-23300, stop loss: 23630.

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.
Sections
Follow us on
Available On