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Market Outlook

04 JAN 2017

 

FII Activity details mentioned below. In the cash market today, FII’s sold 500 crores stock whereas DII’s bought 562 crores worth of stock. In the derivative market, FII’s sold 42 crore of Index futures and bought 1373 crores worth of Index options. In the Stock futures segment, FII’s bought 624 crores worth of stock futures and sold 18 crores stock options. In today’s session, FII’s have decreased their exposure in Index long futures (by 0.6%) and their positions in Index shorts is decreased by 0.6. %. In options, FII’s have increased positions in Index Call (long) by 7 % and positions in Index Put (long) is increased by 6 %.

Today was a good session in the market. Very similar to yesterday’s session where more activity was seen in mid caps, small caps and high beta counters. Nifty and Bank Nifty were volatile but ended in the green with small gains. Global markets were doing well and USDINR was trading above 68 mark. Data flow remains subdued. No improvement whatsoever on data front. But price is definitely showing some positive signs. Nifty is in much better structure than Bank Nifty and perhaps this is why we are not seeing sustainable momentum yet. For sentiment to improve, its imperative that Bank Nifty starts performing soon. Medium term resistance for Bank Nifty futures is 18300 – 18400 and for Nifty futures it is 8230 – 8300. 

 

 

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