Nifty may open flat led by mixed global cues: ICICIdirect

ICICIdirect's Derivative Report:

The Nifty continued to stay in a tight band for a major part of the day. However, selling in a few heavyweights towards the end led index to end 35 points lower. Nifty futures premium settled at 20 point. India VIX fell 2.7% to 14.8.

FIIs sold Rs 536 crore while DIIs bought Rs 556 crore in the cash segment. FIIs bought Rs 327 crore in index futures and Rs 115 crore in index options. In stock futures, they sold Rs 663 crore.

The highest Put base is at the 8000 strike with 74 lakh shares while the highest Call base is at the 8300 strike with 61 lakh shares. The 8100 and 8200 Call strikes saw additions of 4.1 and 1.6 lakh shares, respectively while the 8200 and 8000 Put strikes saw reductions of 4.5 and 1.6 lakh shares, respectively.Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in range of 8145-8155 for targets of 8095-8075, stop loss: 8175.Bank Nifty Future: The index continued to trade in a narrow band for a major part of the day. We feel the index is likely to witness some short covering above 18600. However, until than the range bound move is likely to continue. Sell Bank Nifty in the range of 18450-18500, targets: 18350-18250, stop loss: 18580.