See gap up opening on mixed global cues: ICICIdirect
According to ICICIdirect, the Nifty is likely to open gap up on the back of mixed global cues.
The Nifty witnessed a decent pullback after the sharp sell-off last Wednesday. With the help of auto, metals, pharma and IT, the index ended 54 points higher. Nifty futures settled at a premium of 10 points. India VIX fell 3.4 percent to 13.7.
FIIs sold Rs 216 crore while DIIs bought Rs 846 crore, in the cash segment. FIIs bought Rs 103 crore in index futures and Rs 641 crore in index options. In stock futures, they bought Rs 57 crore.
The highest Put base is at the 8500 strike with 58 lakh shares while the highest Call base is at the 9000 strike with 72 lakh shares. The 8800 and 9000 Call strikes saw reductions of 6.2 and 7.1 lakh shares, respectively, while 8600 and 8700 Put strikes saw additions of 1.1 and 5.4 lakh shares, respectively
The Nifty is likely to open gap up on the back of mixed global cues. Buy Nifty in the range of 8760-8770 for targets of 8820-8840, stoploss 8740.
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