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Last Updated : Aug 06, 2015 09:00 AM IST | Source:

Nifty likely to open negative: ICICIdirect

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 are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

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First Published on Aug 6, 2015 09:00 am
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