Moneycontrol
Aug 10, 2017 09:01 AM IST |

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

Nifty is likely to open flat to negative on the back of mixed global cues. Sell Nifty in range of 9955-9965 for target of 9905, stop loss: 9985, says a report by ICICIdirect.

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

ICICIdirect's Derivative Report:

Nifty

Choppiness continued in the benchmark index with negative market depth where only 10 stock saw advances against 41 declines. This led the index to end 71 points lower. Nifty futures ended at a premium of 19 points. India VIX rose 5.4 percent and ended at 13.4.

FIIs sold Rs 841 crore while DIIs bought Rs 553 crore in the cash segment. FIIs bought Rs 420 crore in index futures and Rs 1500 crore in index options. In stock futures, they bought Rs 151 crore.

The highest Put base is at the 9800 strike with 48 lakh shares while the highest Call base is at the 10100 strike with 50 lakh shares. The 9900 and 10000 Call strikes saw additions of 5.1 and 7.6 lakh shares, respectively, while the 10000 and 10100 Put strike saw reductions of 6.1 and 1.8 lakh shares, respectively.

Nifty Bank

On the back of long liquidation, the index remained under pressure throughout the day. With selling in PSU banks and a few private sector majors, we feel the index is likely to slide more as it has managed to end below 24500.

Nifty Future: The Nifty is likely to open flat to negative on the back of mixed global cues. Sell Nifty in range of 9955-9965 for target of 9905, stop loss: 9985.

Nifty Bank Future: On the back of long liquidation, the index remained under pressure throughout the day. With selling in PSU banks and a few private sector majors, we feel the index is likely to slide more as it has managed to end below 24500. Sell Nifty Bank in the range of 24600-24650, target: 24500-24400, stop loss: 24720.

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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