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Jul 14, 2017 08:37 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 9910-9920 for target of 9860-9840, stop loss: 9940, according to ICICIdirect.

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

ICICIdirect's Derivative Report:

Nifty

Benchmark indices continued their positive journey for a fourth day in a row and ended near 9900, adding 76 points. Nifty futures ended at a discount of 5 points. India VIX rose 2.4 percent and ended at 11.3.

FIIs sold Rs 59 crore while DIIs bought Rs 279 crore in the cash segment. FIIs sold Rs 620 crore in index futures and bought Rs 2364 crore in index options. In stock futures, they bought Rs 1192 crore.

The highest Put base is at the 9600 strike with 63 lakh shares while the highest Call base is at the 9900 strike with 40 lakh shares. The 9700 and 9600 Call strikes saw reduction of 9.3 and 2.7 lakh shares, respectively, while the 9800 and 9900 Put strike saw additions of 11.3 and 13.6 lakh shares, respectively.

Nifty Bank

A sharp rally was seen in the index on the weekly expiry day where apart from HDFC Bank all other banks performed well. We feel the ongoing trend is likely to continue, which will take the index towards 24000.

Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 9910-9920 for target of 9860-9840, stop loss: 9940.

Nifty Bank Future: A sharp rally was seen in the index on the weekly expiry day where apart from HDFC Bank all other banks performed well. We feel the ongoing trend is likely to continue, which will take the index towards 24000. Buy Nifty Bank in the range of 23650-23700, target: 23850-24000, stop loss: 23580.

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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