Moneycontrol
you are here: HomeNewsBusiness
Apr 19, 2017 08:43 AM IST | Source: Moneycontrol.com

See flat opening led by mixed global cues: ICICIdirect

Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 9148-9158 for targets of 9098-9078, stop loss: 9178, says a report by ICICIdirect.

See flat opening led by mixed global cues: ICICIdirect

ICICIdirect's Derivative Report:

Nifty

The Nifty moved 70 points higher in the first half. However, sustaining above 9200 was difficult. The index saw a sharp fall towards 9100. After retracing almost 150 points from the high, it ended 40 points lower. Nifty futures settled at a premium of 18 points. India VIX rose 4.1 percent and ended at 12.4.

FIIs sold Rs 931 crore while DIIs bought Rs 878 crore in the cash segment. FIIs sold Rs 245 crore in index futures and bought Rs 1393 crore in index options. In stock futures, they bought Rs 160 crore.

The highest Put base is at the 9100 strike with 53 lakh shares while the highest Call base is at the 9200 strike with 52 lakh shares. The 9100 and 9200 Call strikes saw additions of 9.3 and 2.5 lakh shares respectively, while 8900 and 8800 Put strikes saw additions of 3.4 and 2.3 lakh shares, respectively.

Nifty Bank

Despite sharp reversal in Nifty, the Nifty Bank remained almost flat on the back of strong performance by HDFC Bank. However, other private sector leaders saw sharp reversal from the high. Still, looking at the overall options data we feel the index is likely to get arrested near 21500.

Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 9148-9158 for targets of 9098-9078, stop loss: 9178.

Nifty Bank Future: Despite sharp reversal in Nifty, the Nifty Bank remained almost flat on the back of strong performance by HDFC Bank. However, other private sector leaders saw sharp reversal from the high. Still, looking at the overall options data we feel the index is likely to get arrested near 21500. Buy Nifty Bank in the range of 21480-21520, 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.
X
Sections
Follow us on
Available On