Nifty to test its resistance zone at 7912 again
Indian market Outlook: Nifty Open Interest data shows that, for the expiry, FII and Pro have sold 94957
contracts in the futures markets and 212731 contracts in the Index Options. Nifty is expected to open 15 points
up from the yesterday's close of 7887 as per SGX at 8:05 am IST. Smallcap trend change confirmation level is
5089 and Nifty recent low was 7700. The level of 7912 continues to be a major resistance for Nifty in short term.
International Market Outlook: Oil prices hit six-month highs on Monday on global supply outages. Asian shares
recovered from two-month lows on Tuesday after a rebound in technology giant Apple Corp and oil price gains
boosted Wall Street. China will tighten rules on listed companies suspending and resuming trade by as soon as
next week to crack down on cheating and improve market order as index compiler MSCI EM index considers
adding Chinese shares to its emerging market benchmark
FII Index Future Buy/Sell activity
For Current Expiry, FIIs have
built short positions in Index
Futures worth Rs. 6509 Crores.
In cash market - FII have sold
Rs. 80 crores worth shares
along with DII who have sold
shares worth Rs.128 crores in
the cash segment.
FII & Pro combined activity
Since the beginning of the expiry, FII and
Proprietary together are building short positions
in the Index futures as well as in the Index
options. However, the selling is so significant as
the buildup has been above average signaling
selling pressure in the market in the time to
come. However, there has not been a second
day confirmatory buy in Index and options which
might signal that the last rally was a profit
booking and the selling might continue.
Option Analysis
Total OI
The chart here clearly shows that
we have maximum open interest in
the 8000 call and 7700 put.
It signifies that the current range
for the expiry is 7700 on the down
side and 8000 on the upside.
Change in OI
Maximum open interest has
increased in the strikes of 7900
puts and 8000 and 7800 calls.
% Change in price
The chart signals that today there
has been an increase in the OI of
7700, 7800 and 7900 puts with a
corresponding decrease in prices
signaling that the market is not to
go below 7700.
*Top Price Gainers:
 IBREALEST: This share has more than doubled in last 2
months from low of 42 to high of 85. The Co. has
reduced its net debt by 16 percent to Rs 4,617 cr
during the last fiscal, helped by positive operating
cash-flow and has the target to cut net debt to Rs
3,300 cr by March next year. It plans to launch two
projects with a total saleable area of 7.29 million sq ft,
of which 5.06 million sq ft would be housing. The
company is developing 11 projects with a total
saleable area of 30.51 million sq ft. It has presence in
key metros of Mumbai, NCR and Chennai.
*Top Price Losers:
ICIL: Profit booking is seen in Indo Count after it
announced capex plan of 300 cr on 7th May. This will
be funded by internal accruals and debt, upgrading the
existing Spinning Facilities, Investments in additional
Weaving and value added equipments for delivery of
fashion and utility bedding.
*Top Volume buzzers:
NILKAMAL: Nilkamal rose 7.38% to Rs 1,337.05 after
net profit rose 50.53% to Rs 32.65 crore on 2.43% rise
in net sales to Rs 500 crore in Q4 March 2016 over Q4
March 2015. Nilkamal's net profit rose 144.68% to Rs
103.89 crore on 4.62% rise in net sales to Rs 1860.14
crore in the year ended March 2016 over the year
ended March 2015.
*Top Movers have been taken from multibagger list in Dynamic Levels. To know the details of the stock please click on dynamiclevels
Major Events of the Day
1. Indian: Important Quarterly results today: JKTYRE, STAR, BRIGADE, NBCC, PEL, TATACOFEE, PETRONET
Disclaimer
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