Nifty likely to open lower, shed 10 points: Dynamic Levels
Nifty is opening gap down by 10 points from previous day close of 10599, says Dynamic Levels.
June 05, 2018 / 10:05 AM IST
Yesterday FII & PRO has created sell position by 85000 contracts and till date the combined sell positions of FII and PRO is 222444 contracts. FII and PRO generally have short position of 150000 contracts, hence presently they have short of 72444 (222444-150000) contracts till date which suggest selling pressure in market.
As per our Dynamic Research team, we expect RBI to increase rates by 25 basis points on June 6, 2018, as indicated by 3-month India bond yield which is currently trading at 6.50.
Smallcap Index has fallen sharply and has broken its 8 Months low of 7609 and closed at 7487 next target for the Index is at 7369. Nifty fell almost 152 points from its high of 10770 and made low of 10618.
Nifty is opening gap down by 10 points from previous day close of 10599. Currently Nifty trading at 10589 as per SGX Nifty.Disclaimer
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