11640 Is A Crucial Resistance For Nifty, Which Can Be Breached Only If Cash Market Shows Buying
Nifty has been trading in a narrow range of 200 points from last 5 trading sessions from 11635 to 11450. Recently Nifty fell 4.30% from its high of 11982 on 5th Jul 2019 and made low of 11460 on 9th Jul 2019, thereafter Nifty has been trading in a range of 200 points.
Cash Market benchmark Smallcap Index has been trading near its 4 month low of 6000 and its currently trading at 6040. No significant buying is seen in the cash market until now.
Nifty is likely to take resistance of its two days the high level of 11640. If the cash market Index, Small Cap participates in buy along with Nifty, the Index can move further.
Sector Analysis:
The markets showed a little strength towards the end of the trading session yet closed with a red candle. The sectors played along with the weakness, and there were no major movements in any of the major or minor sectors. Major small-cap stocks which showed upward movements are Seamec (2.49%) with the Energy Oil and Gas (0.30%) sector being the topper of its list, Caplin Point Laboratories (1.96%) with Pharma (0.16%) sector being the second-highest gainer of the list. Other gainers include Infosys (NS:INFY) (7.24%), Piramal Enterprises (NS:PIRA) (6.81%), Sun Pharma (NS:SUN) Advanced Research Company (18.94%), Dish TV India (NS:DSTV) (5.79%).
The US 10 Year T-Note is trading at 127.21. The Bond has crucial support at 117.42 made on 5th Nov 2018. The US Dollar Index is trading at 96.578.
Open Interest Analysis:
FII & PRO are the major players in the Derivatives segment and have the upper hand in the market, and their position provides direction to the market. In the June month expiry, they had started with the position of (-47429) contracts in Index option (both FII & PRO combined) when Nifty spot was trading at 11842. As on last trading day, they have a net position of (-135613). Thus they have sold 88184 contracts in the current July expiry:
Index Options
Cash Market Data
In the last 10 days, FII and DII in combined have bought stocks in cash segment worth Rs.628.79 Crores.
Sector performance as on 15th July
Sector-wise Small Cap gainers as on 15th July
Large Cap Gainers & Losers as on 15th July
Mid Cap Gainers & Losers as on 15th July
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