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Jul 18, 2017 08:45 AM IST | Source: Moneycontrol.com

See flat to negative opening led by weak global cues: ICICIdirect

Nifty is likely to open flat to negative on the back of weak global cues. Sell Nifty in range of 9935-9945 for target of 9885-9865, stop loss: 9965, according to a report by ICICIdirect.

See flat to negative opening led by weak global cues: ICICIdirect

ICICIdirect's Derivative Report:

Nifty

The Nifty continued to trade with a positive bias throughout the day. It finally ended the day after adding 16 points. Nifty futures ended at a premium of 17 point. India VIX rose 2.6 percent and ended at 11.5.

FIIs bought Rs 329 crore while DIIs sold Rs 447 crore in the cash segment. FIIs bought Rs 279 crore in index futures and Rs 976 crore in index options. In stock futures, they bought Rs 72 crore.

The highest Put base is at the 9800 strike with 65 lakh shares while the highest Call base is at the 10000 strike with 47 lakh shares. The 10100 and 10000 Call strikes saw additions of 3.7 and 1.3 lakh shares, respectively, while the 9800 and 9900 Put strike saw additions of 5.2 and 10 lakh shares, respectively.

Nifty Bank

The buying spree continued in banking stocks, which led the index to end well above 24000. We feel the index is likely to witness decent support near 23800. It is advisable to buy on dips.

Nifty Future: The Nifty is likely to open flat to negative on the back of weak global cues. Sell Nifty in range of 9935-9945 for target of 9885-9865, stop loss: 9965.

Nifty Bank Future: The buying spree continued in banking stocks, which led the index to end well above 24000. We feel the index is likely to witness decent support near 23800. It is advisable to buy on dips. Buy Nifty Bank in the range of 23800-23850, target: 23950-24100, stop loss: 23740.

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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