Market May Continue its Rally Supported By FII and PRO Long Position

  • Market Overview

Cash market has been continuously trading strongly from the last 5 trading sessions, huge buying is seen in Infra, Metal and Cement sectors. Yesterday FII and Pro have taken long positions in Nifty 50 Index options of 24699 contracts and in the current expiry, they have created net long positions of 135119 contracts, which suggests further buying in the market.

Technical Levels

Nifty is trading near its 5 months high at 11118 above which next level is at 11752. Nifty made lows of 10586 on 19th Feb 2019, and the index has risen almost 4.5%. Nifty current weekly high is 11062 and low of 10817 levels.

NIFTY Smallcap 100 Index
a cash Market benchmark is trading at 6381, above its previous month high of 6211, next level for the index is at 6500 which is 5 months high, above which next monthly level is at 7745. The index has risen 13% from its low of 5665.

NIFTY Midcap 100 Index
is trading above its previous month high of 17140 above which next level is at 17938. Midcap index, if goes above 18095, which is 5 months high of the index, then next monthly levels is at 20088.

Sector to watch

Nifty Index has risen 4.5%, Nifty Midcap Index has risen 9% and Nifty Smallcap Index has zoomed 12.5% from 19th Feb low. Top three Major Sectors that has risen with Indices rally are Infra, rising by 19%, Cement rose by 18% and Metals zoomed 16%, in Minor sector top three sectors are Sugar rising 28%, Carbon zoomed by 17% and Paper is up by 16%.

Stocks to watch

Top ten stocks that have performed from 19th Feb lows are BF investment risen 50%, Tejas Network is up by 49%, Uttam Sugar is up by 48%, Mithan Alloy is up by 40%, DCM Shriram (NS: DCMS ) zoomed 40%, Take Solution is up by 39%, Repco Home is up by 38%, SMS Life has risen by 37%, HG infra has moved up by 36% and Tirumalai Chemical has moved up by 31%.

Nifty Open Interest

Monthly expiry for 28th March has started from 1st March where FII & PRO have net positions of 19186 and yesterday the net position is standing at 138551. Therefore FII & PRO have created a net long position of 135119.

Global markets

America: S&P 500 futures is hovering near its 4 month high of 2818 above which next levels are at 2945. S&P 500 Index made lows on 25th Dec 2018 of 2317 and is currently trading at 2767, the index has moved up by 20% from 25th Dec 2018 low.
Overnight, U.S. markets fell for a third consecutive session as data on private sector job growth and trade balance disappointed investors and reports emerged that Pyongyang may be rapidly rebuilding the test facility that it pledged to dismantle.
Europe: German Index DAX is trading near its 4 month high of 11690 above which next level is 12374. The index made lows of 10864 on 8th Feb 2019 and is currently trading at 11552 zoomed almost 7%.
Asia: Hang Seng is trading near its 8 months high of 29113 if Index sustains above this level the next level is at 31545. The Index made low of 24876 on 3rd Jan 2019 and is currently trading at 28875. Hang Seng has risen almost 17% from its low of 24876.
Nikkei is trading above its 2 month high of 21620 above which next level is 22710. The index made low of 20160 on 12th Feb 2019 and is currently trading at 21227, rose almost 8% from its low.

US T-Note

The US 10 Year T-Note is trading at 122.18. The US Dollar Index is trading at 96.825.

Sector Performance as on 6th Mar
Sector Performance

Sector-wise Small Cap Gainers as on 6th Mar
Smallcap Gainers

Large Cap Gainers and Losers as on 6th Mar
Largecap Gainers

Mid-cap Gainers and Losers as on 6th Mar
Midcap Gainers

Index Options

FII+PRO in combined have bought 135119 contracts last day in Index Options in the current expiry.
Index Options

Cash Market Data

In the last 10 days, DII has sold shares in cash segment worth Rs. 5226.23 Crore.
Cash Market Data

DISCLAIMER:
There is no guarantee of profits or no exceptions from losses. The investment advice provided are solely the personal views of the research team. You are advised to rely on your own judgment while making investment / Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. You should read and understand the Risk Disclosure Documents before trading/Investing.

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