Tuesday 24 July 2018

Markets Set To Open On A Flat Note, Focus To Remain On Q1 Earnings

Posted by suhani varma on Tuesday, July 24, 2018 with No comments

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SGX Nifty is currently trading marginally in the red down 4 points at 11095 levels.

Nifty has managed to give a breakout from its sideways consolidation of the past few trading session, and we could expect the positive momentum to continue further. 11100CE option continues to have the maximum open interest buildup, if Nifty is able to sustain above these levels during initial trade we could witnessing short covering which could lead the index higher.

Traders would also keep an eye out on the earnings season which is currently underway, Hexaware Tech, ICICI Prudential, Network 18, Power Grid Finance and TV 18 Broadcast are some of the large-cap companies set to announce their results today.

Major Asian markets are trading with a positive bias at present; Nikkei is up 0.39%, Hang Seng is up 0.95%, while Shanghai Composite is trading 1.02% higher.

US Markets: Stocks ended on a mixed note in yesterday’s trade. The Dow dipped 0.1% to 25,044.29, the Nasdaq gained 0.3% to 7,841.87 and the S&P 500 inched up 0.2% to 2,806.98. The choppy trading on Wall Street was witnessed following the release of a report from the National Association of Realtors showing an unexpected decline in existing home sales in the month of June.

European markets ended in the red yesterday with FTSE down 0.30%, CAC was down 0.37% while DAX closed 0.10% lower.

FII Data: In yesterday’s trading session FII’s bought 259 crores stock in the cash market whereas DII’s bought 124 crores worth of stock. In the derivative market, FII’s sold 603 crores of Index futures and sold 81 crores worth of Index options. In the Stock futures segment, FII’s sold 17 crores worth of stock futures and sold 18 crores stock options.

FII View: In yesterday’s trading session FII built bearish position in the futures segment which is deduced by the fact that they created 8590 short contracts in Index Futures. While in the options segment marginal amount of bullish positions were created which is indicated by 5282 short contracts in Index Put option and 3061 long contracts in Index call options. However, the net positions in the July series continue to remain on the long side which is indicated by the long/short ratio which currently stands at 2.1x

 FIIOI
(in000's)
% Chg% Chg 
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long18011431.12.1
Index Short160616
Index Call Long2002331.91.0
Index Call Short105(6)39
Index Put Long417(1)542.50.7
Index Put Short1693114
 
Support / Resistance: IntradayNifty: 11084
S1 – 11000S2-10920
R1-  11145R2 -11200
 
Support / Resistance: IntradayBank Nifty: 27008
S1 – 26800S2-26650
R1 - 27200R2 -27500


Nifty Highest Open Interest:
Call: 11100 / Put: 11000
Bank Nifty Highest Open interest: (26th July 2018 Expiry)
Call: 27500 / Put: 26500
Securities in Ban Period: Nil
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