Moneycontrol
Feb 15, 2017 09:07 AM IST | Source: Moneycontrol.com

See flat opening led by mixed global cues: ICICIdirect

According to a report by ICICIdirect, Nifty is likely to open flat on the back of mixed global cues and recommends buying Nifty in the range of 8780-8790 for targets of 8840-8860, stop loss at 8760.

ICICIdirect's Derivative Report:

Nifty

The Nifty continued to hover near 8800 for a major part of the day. With stock specific action and pullback in Nifty Bank, the index ended flat. Nifty futures settled at a premium of 23 points. India VIX rose 3.9 percent to 13.7.

FIIs and DIIs sold Rs 7 and Rs 3 crore, respectively, in the cash segment whereas FIIs bought Rs 1321 crore in index futures and Rs 138 crore in index options. In stock futures, they sold Rs 690 crore.

The highest Put base is at the 8500 strike with 59 lakh shares while the highest Call base is at the 9000 strike with 71 lakh shares. The 8800 and 8900 Call strikes saw additions of 1.2 and 2.6 lakh shares, respectively, while 8800 and 8500 Put strikes saw additions of 5.4 and 0.9 lakh shares, respectively.

Nifty Bank

For a third day in a row, the Nifty Bank index ended almost flat. However, the index is facing a hurdle near 20320, which is also the VWAP for the last week. We feel a close above this would trigger further buying whereas 20100 would act as an intermediate support.

Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Buy Nifty in the range of 8780-8790 for targets of 8840-8860, stop loss: 8760.

Nifty Bank Future: For a third day in a row, the Nifty Bank index ended almost flat. However, the index is facing a hurdle near 20320, which is also the VWAP for the last week. We feel a close above this would trigger further buying whereas 20100 would act as an intermediate support. Buy Nifty Bank in the range of 20150-20200, targets: 20300-20400, stop loss: 20080.

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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