Nifty is likely to open flat to negative on the back of weak global cues. It is likely to trade in the range of 8400-8510, says a report by ICICIdirect.
ICICIdirect's Derivative Report:
The volatility continued for a third day in a row where a sharp swing was seen from the highs. With a mixed bag performance among indices, the Nifty ended only 11 points down. Nifty future premium settled at 15 points. India VIX fall 0.8 percent and ended at 16.3.
FIIs sold Rs 255 crore while DIIs bought Rs 128 crore in the cash segment. FIIs bought Rs 19 crore in index futures and Rs 678 crore in index options. In stock futures, they bought Rs 408 crore.
The highest Put base is at the 8200 strike with 63 lakh shares while the highest Call base is at the 8600 strike with 50 lakh shares. The 8400 and 8700 Calls saw reductions of 2.8 and 3.8 lakh shares, respectively. The 8200 and 8500 Put strikes saw additions of 3.4 and 2.7 lakh shares, respectively.
Nifty Future: The Nifty is likely to open flat to negative on the back of weak global cues. It is likely to trade in the range of 8400-8510. Buy Nifty in the range of 8437-8442 for targets of 8470-8490 and stop loss at 8420.
Bank Nifty Future: Most private sectors banks remained under pressure whereas PSU banks displayed resilience helping the index post flat closure. After twodays of short covering, marginal profit booking was observed in the index. The activity on the option side remains intact indicating a broader range for the index. Buy Bank Nifty in the range of 18680-18730 for targets at 18850-18950 and stop loss at 18600.
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First Published on Aug 19, 2015 08:38 am