Indian Equity Markets had a good trading session on Monday. Despite the meltdown in US markets on Friday, Asian indices including India managed to hold back their levels steadily and finally closing the day flat. Among the sectors, Consumer Goods and Industrial Manufacturing sectors declined the maximum while Financial Services and Construction sectors gained during the day.
Provisional data released by exchanges gave a mixed look. In the Capital Market segment, FIIs were among the net buyers by around 150 Crores while in the derivatives segment, they were net sellers in both futures and Options segment.
Technically Nifty is able to hold on to 5300 levels pretty comfortably and looked like a strong support. But with global markets looking weak, we may see a strong retest of these levels. If Nifty breaches these levels, then we may see markets heading towards 5150 and then 5070 levels. On the upside, 5440-5460 levels and then, 5530-5540 levels are likely to provide the major resistance.
So far, we have been able to outperform the global indices, but from now on we advise some caution to the investors. One should use short term rallies to book profits and keep themselves in cash by atleast 30%. One may also hedge the positions by buying Nifty Puts for Strike Prices 5200 / 5300 of August series.
Wishing you a great trading day tomorrow!!
Provisional data released by exchanges gave a mixed look. In the Capital Market segment, FIIs were among the net buyers by around 150 Crores while in the derivatives segment, they were net sellers in both futures and Options segment.
Technically Nifty is able to hold on to 5300 levels pretty comfortably and looked like a strong support. But with global markets looking weak, we may see a strong retest of these levels. If Nifty breaches these levels, then we may see markets heading towards 5150 and then 5070 levels. On the upside, 5440-5460 levels and then, 5530-5540 levels are likely to provide the major resistance.
So far, we have been able to outperform the global indices, but from now on we advise some caution to the investors. One should use short term rallies to book profits and keep themselves in cash by atleast 30%. One may also hedge the positions by buying Nifty Puts for Strike Prices 5200 / 5300 of August series.
Wishing you a great trading day tomorrow!!
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