According to ICICIdirect, the Nifty is likely to open negative on the back of negative Asian cues.
ICICIdirect's derivative report:
After opening with a gap action, the Nifty was seen remaining in a tight band with stock specific activity. However, with the help of IT and auto stocks, the index managed to end 51 points higher. Nifty future premium settled at 25 points. India VIX fell 1.1% and ended at 14.6
FIIs bought Rs 448 crore while DIIs sold Rs 189 crore in the cash segment. FIIs bought Rs 598 crore in index futures and Rs 439 crore in index options. In stock futures, they bought Rs 228 crore
The highest Put base is at the 8200 strike with 51 lakh shares while the highest Call base is at the 8800 strike with 48 lakh shares. The 8800 and 8700 Calls saw additions of 2.6 and 2.1 lakh shares, respectively. The 8500 and 8600 Put strikes saw additions of 7.6 and 4.2 lakh shares, respectively
The Nifty is likely to open negative on the back of negative Asian cues. It is likely to trade in the range of 8550-8650. Sell Nifty in the range of 8618-8623 for targets of 8590-8570, stop loss: 8638
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.
The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Aug 6, 2015 09:00 am