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Last Updated : Sep 11, 2015 08:41 AM IST | Source:

See flat opening led by mixed global cues: ICICIdirect

Nifty is likely to open flat on the back of mixed global cues. It is likely to trade in the range of 7740-7850, says ICICIdirect.

ICICIdirect's Derivative Report:

Post a gap down opening, the Nifty remained under pressure for major part of the day. However towards the end sharp pull back was seen which helped index to close only 20 points lower by recovering almost 100 points from day’s low. Nifty futures premium settled at 20 points. India VIX rose 2 percent and ended at 24.7.
FIIs sold Rs 121 crore while DIIs bought Rs 67 crore in the cash segment. FIIs sold Rs 273 crore in index futures and bought Rs 357 crore in index options. In stock futures, they bought Rs 312 crore.
The highest Put base is at the 7500 strike with 43 lakh shares while the highest Call base is at the 8500 strike with 43 lakh shares. The 7900 and 8000 Calls saw addition of 2.9 and 1.3 lakh shares, respectively. The 7400 and 7700 Put strikes saw additions of 6.4 and 5.1 lakh shares, respectively.

Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. It is likely to trade in the range of 7740-7850. Buy Nifty in the range of 7765-7775 for targets of 7805-7825 and stop loss at 7750.

Bank Nifty Future: BankNifty recovered sharply towards the end and closed almost flat. Despite of all the weakness the index has managed to close well above the crucial levels of 16500. Index is likely to witness short covering above 16700 levels with support now pegged at 16500 levels. Buy Bank Nifty in the range of 16450-16490 for targets at 16600-16750 and stop loss at 16390.

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 Sep 11, 2015 08:41 am
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