Moneycontrol
Last Updated : Oct 10, 2016 09:13 AM IST | Source: Moneycontrol.com

Nifty to open flat, buy trend intact: Dynamic Levels

Nifty Futures is expected to open at 8742 as per SGX Nifty at 8:30 am IST, which is 22 points above its previous close of 8720, says Dynamic Levels.

Dynamic Levels' Market Outlook:

Nifty to open flat, buy trend is intact

Indian Market Outlook:

India benchmark index Nifty did not show any clear movement last week after testing 8800 levels, it corrected by 100 points on low volumes to close at 8715.This week being a truncated week with two successive holidays might see range bound movement today. As the next trading day would be Thursday ,13 October. Oil and Gas was the star performer last week with the increase in crude prices, Reliance gave a weekly closing above 1100 which is very positive. Banking shares saw small profit booking after a rate cut and some underperformance was witnessed despite holding on to the support of 19500.

Small cap index continues to trade near all time high recovering sharply after the surgical strikes done by Indian army where it fell below 6000 levels. The sharp pullback upwards clearly indicates a uptrend in the Indian markets.

Nifty Futures is expected to open at 8742 as per SGX Nifty at 8:30 am IST, which is 22 points above its previous close of 8720.

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.
First Published on Oct 10, 2016 09:13 am
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