Jun 20, 2017 08:46 AM IST | Source:

Nifty likely to open flat: ICICIdirect

According to ICICIdirect, the Nifty is likely to open flat on the back of mixed global cues.

ICICIdirect's derivative report:

A sharp pullback was seen in both indices where the Nifty and Nifty Bank ended on an optimistic note. With support from most heavyweights, the index ended 70 points higher. Nifty futures ended at a premium of 17 point. India VIX fell 2.6 percent, ending at 10.6.

FIIs sold Rs 250 crore while DIIs bought Rs 530 crore in the cash segment. FIIs bought Rs 146 crore in index futures and Rs 733 crore in index options. In stock futures, they sold Rs 937 crore.

The highest Put base is at the 9500 strike with 63 lakh shares while the highest Call base is at the 9700 strike with 66 lakh shares. The 9600 and 9700 Call strikes saw reductions of 17.2 and 10.3 lakh shares, respectively, while the 9700 and 9600 Put strikes saw additions of 10.5 and 4.3 lakh shares, respectively

The Nifty is likely to open flat on the back of mixed global cues. Buy Nifty in the range of 9650-9660 for targets of 9710-9730, stop loss: 9630

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