Nifty set for gap down led by weak global cues: ICICI direct

ICICI bank As per ICICI direct report, Nifty is likely to open in red on Thursday on the back of mixed global cues.

The ICICIdirect’s Derivative Report states that the Nifty failed to keep its force and stayed lackluster throughout the day. After trading in a tight band of only 20 points, the index ended only 15 points higher, while Nifty futures premium settled at 31 points. India volatility index fell 1.4% to 14.3. Foreign Institutional Investors sold Rs. 547 crore while domestic Institutional Investors bought Rs. 469 crore in the cash segment. The latter sold Rs. 152 crore in index futures and Rs. 185 crore in index options and in stock futures Rs 309 crore.

The highest put base has emerged at strike price 8500 with 44 lac shares and the highest call base reached at 9000 with 68 lac shares. As for Bank Nifty Future, for the third day in a row, the index traded below the critical level of 19,500 with a stock specific selling.

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