NIFTY MORNING OUTLOOK
Pre-Market! on yesterday The Reserve Bank of India announce its monetary policy decision no rate cut, the positive reaction from the market investors. US index closed edge up. Asian market trading mixed, Nifty50 on the SGX were trading at 9924 -23 points on indicating flat opening for the NSE.
On Wednesday The Nifty 50 index rose 55.40 points or 0.56% to settle at 9,914.90, The index gained 78.80 points or 0.8% at the day’s high of 9,938.30. The index fell 8.85 points or 0.09% at the day’s low of 9,850.65. Volatility was witnessed amid firm trade later during the session after RBI announced the policy review decision.
The biggest gainers of the session on the Nifty50 were Reliance Industries Ltd, which rose 3.21% or 25.65 points to trade at 824.00 at the close. Sun Pharmaceutical Industries Ltd. added 3.03% or 15.25 points to end at 517.90 and Aurobindo Pharma Ltd. was up 2.55% or 18.00 points to 724.95 in late trade.
Biggest losers included Bharti Airtel Ltd. which lost 1.95% or 7.50 points to trade at 377.15 in late trade. UPL Ltd declined 0.99% or 7.85 points to end at 788.15 and Eicher Motors Ltd. shed 0.84% or 262.70 points to 30884.60.
On the NSE stocks movement 1133 fell and 1414 advanced, while 124 ended unchanged.
Rupee desk: The USD/INR was down 0.49 to 65.21
CASH FLOW ANALYSIS FII DII
Activity 04th October 2017. In the cash market FII’s sold 632 crores stock whereas DII’s bought 584 crores worth of stock. In the derivative market, FII’s bought 801 crore of Index futures and sold 187 crores worth of Index options. In the Stock futures segment, FII’s bought 1169 crores worth of stock futures and bought 49 crores stock options. In last session, FII’s have increased their exposure in Index long futures (by 8.7%) and their positions in Index shorts are increased by 1%. In options, FII’s have increased positions in Index Call (long) by 2.6 % and positions in Index Put (long) is increased by 0.3%.
Technical outlook
Trading Pattern analysis according to the previous session movement in nifty shows small bullish pattern which indicates bullish sentiment in the market. Nifty is forming higher highs and higher lows for the past 4 sessions which is positive for the market. We can see nifty is finding difficult to cross 9,940 for the past 4 days. Nifty holds resistance at 9,940. Until nifty crosses 9,940 it is likely that nifty can break 9,750- 9,650 levels in coming days.
Technical Chart:
Investment Guru India News
