Indian Equity Markets had a good session on Thursday. The trading was laregly muted and flattish, till the late afternoon brought a suprise upward rally. The markets finally closed the day up around 1% each.
Provisional data released by exchanges have been encouraging. Foreign Institutional Investors (FII) have been net buyers by around 500 Crores while Domestic Institutional Investors have been net sellers by around 350 Crores. In the derivatives segment, FIIs have been net buyers by around 300 Crores in futures segment. In the Options segment, we have seen some kind of Call writing happening in the 5300 and 5400 Calls by FIIs.
US markets have opened weak and trading in the negative territory. Gold is trading higher at the moment which indicates that institutions have been hedging their equity and currency related risk by buying Gold in the international markets.
Technically, Nifty is in strong resistance zone of 5280-5310. If Nifty breaches this level successfully then we might see Nifty heading to 5370. On the other side, Nifty has strong support at 5170-5190. Hence, traders are advised to carry foward their short positions in Nifty with target levels of 5190 and Stop loss of 5310.
Provisional data released by exchanges have been encouraging. Foreign Institutional Investors (FII) have been net buyers by around 500 Crores while Domestic Institutional Investors have been net sellers by around 350 Crores. In the derivatives segment, FIIs have been net buyers by around 300 Crores in futures segment. In the Options segment, we have seen some kind of Call writing happening in the 5300 and 5400 Calls by FIIs.
US markets have opened weak and trading in the negative territory. Gold is trading higher at the moment which indicates that institutions have been hedging their equity and currency related risk by buying Gold in the international markets.
Technically, Nifty is in strong resistance zone of 5280-5310. If Nifty breaches this level successfully then we might see Nifty heading to 5370. On the other side, Nifty has strong support at 5170-5190. Hence, traders are advised to carry foward their short positions in Nifty with target levels of 5190 and Stop loss of 5310.
Recommendation to Sell TCS is giving loss by around 1%. Kotak Bank-SBI pair trade strategy has performed well today as Kotak Bank registered the gains of 1% while SBI fell by 0.5%. Tata Motors-M&M pair trade strategy has done well today, but is in overall losses.
No new recommendation for now as we have already 3 open strategies lying open. Wishing you a great trading day tomorrow!!!
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