Nifty closed on flat note after a choppy movement for the day. Nifty
declined by 7 points to end at 7849.
Tata Motors was down 0.25 percent as Goldman Sachs has downgraded the stock to sell from neutral as it believes the stock has priced in better H2FY16 volume growth and margin after H1FY16 slump.
The Finance Ministry has recently proposed a roadmap for the phasing out of all tax exemptions by the industry. According to proposal sunset clauses with regards to tax exemptions will be renewed and no weighted deduction will be allowed for any specified business activity from April 1, 2017 onwards.
Future & Option cues:
Nifty 7900 Call added 6.7 lakh shares in Open Interest (OI) on November 23
Nifty 7900 Put shed 4 lakh shares in Open Interest
FIIs in F&O on November 23 (Provisional data from NSE)
FIIs net buy Rs 403 crore in Index Futures
FIIs net sell Rs 675 crore in Index Options
Tata Motors was down 0.25 percent as Goldman Sachs has downgraded the stock to sell from neutral as it believes the stock has priced in better H2FY16 volume growth and margin after H1FY16 slump.
The Finance Ministry has recently proposed a roadmap for the phasing out of all tax exemptions by the industry. According to proposal sunset clauses with regards to tax exemptions will be renewed and no weighted deduction will be allowed for any specified business activity from April 1, 2017 onwards.
Nifty 7900 Call added 6.7 lakh shares in Open Interest (OI) on November 23
Nifty 7900 Put shed 4 lakh shares in Open Interest
FIIs in F&O on November 23 (Provisional data from NSE)
FIIs net buy Rs 403 crore in Index Futures
FIIs net sell Rs 675 crore in Index Options
Nifty Technical Overview:
Nifty future recovered after having dip in early trade and closed on flat note. Today market was consolidated and remained below 7880 level so it is expected to move down if it does not sustains above 7900 level in near term after consolidation below the level of 7900.
Nifty future recovered after having dip in early trade and closed on flat note. Today market was consolidated and remained below 7880 level so it is expected to move down if it does not sustains above 7900 level in near term after consolidation below the level of 7900.
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