Nifty May Trade in a Range of 11560-11760

  • Market Overview

Nifty May Trade In A Range Of 11560-11760, Breaching Any Of The Levels Will Decide The Further Direction In The Market

Nifty touched its all-time high of 11761 on 3rd April 2019 and corrected from this level and made a low of 11559 on 4th April 2019 witnessing some profit booking at higher levels. FII & PRO have bought 36581 contracts on Friday thereby giving an indication of support to the market. Therefore, further clarity in the market will come only if Nifty and NIFTY Smallcap 100 trade above their 3rd April highs of 11761 and 6775 respectively. Markets may continue with its upward trend supported by FII & PRO buying, however, 11761 level needs to be watched and breaching this level will add further bullishness in the market.

Sectoral Analysis:

Top 5 performing Major sectors for the last week were IT (2.46%), Metals & Mining (2.05%), Infrastructure Construction and Engineering (1.58%), Chemicals (1.13%) and Realty (1.12%). Top 5 performing Minor sectors for the last week were Electrical Equipment (4.27%), Services (1.65%), Gold & Jewellery (1.51%), Interior Construction (1.24%) Paper (0.96%). Last week, Metals & Mining Sector have shown an up move of 2.05%. Moreover, this sector is continuously showing strength from 19th February 2019, rising 18.42% from where the CNX Small Cap has bottomed out. The top performer stocks in this sector that performed last week were Srikalahasthi Pipes (7.83%), Welspun Corp (NS: WGSR ) (7.53%), Maithan Alloys (5.23%) and APL Apollo Tubes (3.98%).

Open Interest Analysis:

FII & PRO are the major players in the Derivatives segment and have an upper hand in the market whose position provides direction to the market. In the current expiry, they have started with the position of 67472 contracts in Index option (both FII & PRO combined) when Nifty spot was trading at 11570. As on 5th April, they have created a short position of 3723 contracts on Friday and had Net Open Interest position of 63749 contracts in the current expiry.

US Data

The US 10 Year T-Note is trading at 123.70. The Bond has broken its important low of 120.03 on 2nd Oct 2018. The US Dollar Index is trading at 96.873.

Sector Performance as of last week

Sector Performance as on last week

Small Cap Gainers as on last week

Small Cap Gainers as on last week

Large Cap Gainers and Losers as on last week

Large Cap Gainers and Losers as on last week

Mid-cap Gainers and Losers as on last week

Mid cap Gainers and Losers as on last week

Index Options

Index Options

FII+PRO in combined have sold 3723 contracts in the Index options in the current expiry.

Cash Market Data

Cash Market Data

In the last 10 days, FII has bought shares in cash segment worth Rs. 7112.21 Crore.

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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