Post a positive begin, the Nifty traded in a tight band. On the other hand, after RBI monetary policy outcome, a sharp sell-off was seen leading it to end 41 points down. Nifty futures premium settled at 21 point. India VIX fell 1.5 percent to 16.8.
Free Stock Tips: FIIs bought Rs 194 crore while DIIs sold Rs 56 crore in the cash segment. FIIs bought Rs 212 crore in index futures and Rs 503 crore in index options. In stock futures, they sold Rs 348 crore.
The highest Put base is at the 8000 hit with 77 lakh shares while the highest Call base is at the 8300 hit with 48 lakh shares. The 8200 and 8100 Call strikes saw additions of 1.6 and 1.2 lakh shares, respectively while the 7500 and 7900 Put strikes saw additions of 3.7 and 1.2 lakh shares, respectively.
Watch day to day intraday nifty calls provided by Best Stock Advisory
Bank Nifty Future: Disappointment from the monetary policy has led the Bank Nifty to test its previous lows of 18200. In any case, for the upward bias it is important for the banking index to maintain above its major Put base of 18500. Weekly settlement is also likely to drive volatility higher in Bank Nifty. Buy Bank Nifty in the range of 18500-18550, targets: 18750-18850, stop loss: 18290.
Nifty Future: The Nifty is probably to open gap up on the back of positive global cues. Buy Nifty in range of 8150-8160 for targets of 8210, stop loss: 8130.
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