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

ICICIdirect's Derivative Report:

Nifty

Last hour selling ensured the Nifty ended below 9200. Within the Nifty, 37 stocks fell while 14 rose with India VIX rising 3.6 percent. Sectorally, the largest decline was seen in pharma, PSU banking, realty and metal space.

FIIs sold Rs 262 crore while DIIs bought Rs 415 crore in the cash segment. FIIs sold Rs 509 crore in index futures and bought Rs 910 crore in index options. In stock futures, they bought Rs 564 crore.

The highest Put base is at the 9000 strike with 54 lakh shares while the highest Call base is at the 9500 strike with 50 lakh shares. The 9300 and 9500 Call strikes saw additions of 9.4 and 4.6 lakh shares respectively while 9300 Put strike saw additions of 1.8 lakh shares and 9000 Put saw closure of 5 lakh shares.

Nifty Bank

Nifty Bank saw marginal profit taking (as declines were mainly seen in PSU banking stocks) and the index ended at the lowest level since March 29. Current Put build-up is at 21500 suggesting index may see extended profit booking if it is unable to move above 21500.

Nifty Future: The Nifty is likely to open flat to positive on the back of mixed global cues. Sell Nifty in the range of 9240-9250 for targets of 9195-9185, stop loss: 9270.

Nifty Bank Future: Nifty Bank saw marginal profit taking (as declines were mainly seen in PSU banking stocks) and the index ended at the lowest level since March 29. Current Put build-up is at 21500 suggesting index may see extended profit booking if it is unable to move above 21500. Sell Nifty Bank in the range of 21500-21550, targets: 21300-21200, stop loss: 21620.

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