For a sixth day in a row the Nifty opened positive. The follow-up momentum continued throughout the day and the index was seen adding 62 points towards the end. Nifty future premium fell and settled at 22 points. India VIX increased 0.42 percent and settled at 20.91.
FIIs bought Rs 2188 crore while DIIs bought Rs 328 crore in the cash segment. FIIs bought Rs 284 crore in index futures and Rs 572 crore in index options. In stock futures, they sold Rs 290 crore.
The highest Put base is at the 8500 strike with 39 lakh shares while the highest Call base is at the 9000 strike with 66 lakh shares. The 9000 and 9100 Calls saw additions of 3.80 and 3.30 lakh shares, respectively. The 8800 and 8900 Put strikes saw addition of 2.10 and 1.65 lakh shares, respectively.
Nifty Future: The Nifty is likely to open flat to positive on the back of mixed global cues. It is likely to trade in the range of 8830-8910. Buy Nifty in the range of 8850-8860 for targets of 8890-8910 and stoploss at 8833.
Bank Nifty Future: Private sector banks continued to provide a cushion with consolidation continuing in the index. Further, the index witnessed some short covering towards 19250. Buy Bank Nifty in the range of 19250-19290 for targets of 19400-19500 and stoploss at 19200.
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