Nifty Future is opening gap down by 14 points against yesterday's close of 10264 as indicated by SGX Nifty which is currently trading at 10249, says Dynamic Levels.
Dynamic Levels' Market Outlook:
FIIs and Pro yesterday created short positions for 85,000 contracts, market is expected to fall further
In current expiry both the major players FII and Pro have created a sell position. Both FII and PRO in combine have sold 237038 contracts in the current expiry.
Yesterday FIIs and Pros have created a sell position 84890 contracts which is almost twice of its average (43000 contracts), thus giving an indication of further fall in the market. So we suggest to book profit and avoid taking long position in the market.
Short term trend for markets is expected to remain sell, so we recommend to be cautious in the market and book profits. Yesterday markets witnessed a big sell of 109 points from its high. The Index closed flat at 10225 after making high of 10354, the Index made low of 10216.
Small cap Index declined by 0.68 percent and closed at 8501 after making high of 8610, the Index made low of 8492.
Nifty Future is opening gap down by 14 points against yesterday's close of 10264 as indicated by SGX Nifty which is currently trading at 10249.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.