Moneycontrol
Get App
you are here: HomeNewsBusiness
Last Updated : Aug 24, 2017 08:47 AM IST | Source: Moneycontrol.com

Nifty likely to open on positive note: ICICIdirect

Nifty is likely to open positive but global cues remain mixed. Buy Nifty in range of 9830-9840 for target of 9890, stop loss: 9810, says a report by ICICIdirect.


ICICIdirect's Derivative Report:

Nifty

Infosys, Reliance Industries and late buying in banking stocks helped the index sustain well above 9800. Midcaps and participation by other sectors also helped the index end with gains of 87 points. Nifty futures ended at a premium of 9 points. India VIX fell 6.6 percent and ended at 13.1.

Close

FIIs sold Rs 1157 crore while DIIs bought Rs 930 crore in the cash segment. FIIs bought Rs 1158 crore in index options and closed shorts over Rs 1128 crore in index futures. In stock futures, they closed over Rs 51 crore.

The highest Put base is at the 9800 strike with 55 lakh shares while the highest Call base is at the 10000 strike with 55 lakh shares. The 10100 and 9800 Call strikes saw reductions of 10.1 and 4.3 lakh shares, respectively, while the 9900 and 9800 Put strike saw additions of 6.9 and 6.0 lakh shares, respectively.

Nifty Bank

Nifty Bank was the key catalyst for the late pullback in the markets. All 12 components ended in green. Ahead of weekly expiry strong option base is seen at 24000 Put and 24500 Call. With the Nifty Bank already near 24350 upsides seems limited. However, the ongoing recovery has kept the index as buy on dip bet.

Nifty Future: The Nifty is likely to open positive but global cues remain mixed. Buy Nifty in range of 9830-9840 for target of 9890, stop loss: 9810

Nifty Bank Future: Nifty Bank was the key catalyst for the late pullback in the markets. All 12 components ended in green. Ahead of weekly expiry strong option base is seen at 24000 Put and 24500 Call. With the Nifty Bank already near 24350 upsides seems limited. However, the ongoing recovery has kept the index as buy on dip bet. Buy Nifty Bank in the range of 24180-24230, target: 24350-24450, stop loss: 24080.

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.

Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.

First Published on Aug 24, 2017 08:47 am
Sections
Follow us on