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Apr 20, 2017 09:11 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. Buy Nifty in the range of 9100-9110 for targets of 9160-9180, stop loss: 9080, says a report by ICICIdirect.

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

ICICIdirect's Derivative Report:

Nifty

The benchmark index traded in a narrow and tight band of 25 points for a major part of the day. However, late buying helped the index end positive. Nifty futures settled at a premium of 31 points. India VIX fell 1.3 percent and ended at 12.2.

FIIs sold Rs 673 crore while DIIs bought Rs 525 crore in the cash segment. FIIs sold Rs 1027 crore in index futures and bought Rs 807 crore in index options. In stock futures, they bought Rs 270 crore.

The highest Put base is at the 9100 strike with 54 lakh shares while the highest Call base is at the 9200 strike with 50 lakh shares. The 9100 and 9000 Call strikes saw additions of 4.7 and 2.1 lakh shares, respectively, while 9000 and 9100 Put strikes saw additions of 1.6 and 1.3 lakh shares, respectively.

Nifty Bank

A mixed bag of activity in the index was seen with selling in select private sector banks whereas HDFC Bank along with PSUs continued to show some strength. As today is the weekly contract expiry, we may see some trigger in volatility. However, support for the index is near 21500.

Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Buy Nifty in the range of 9100-9110 for targets of 9160-9180, stop loss: 9080.

Nifty Bank Future: A mixed bag of activity in the index was seen with selling in select private sector banks whereas HDFC Bank along with PSUs continued to show some strength. As today is the weekly contract expiry, we may see some trigger in volatility. However, support for the index is near 21500. Buy Nifty Bank in the range of 21480-21530, targets: 21650-21750, stop loss: 21410.

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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