See Nifty Futures Open at 8675

Indian Market Outlook: 

Nifty after a gap up opening yesterday, saw profit booking. Nifty August Futures is unable to breach
8750 and profit booking is witnessed from these levels since past few trading sessions. Market heavyweights like banks and Reliance Industries have been underperforming since past few trading sessions. Small Cap Index also witnessed profit booking from its all time high of 6172 to below its two days low of 6073 and made a low of 6039 before closing at 6089. FIIs are still net buyers in the Index Futures and the cash segment. This fall should be considered as a buying opportunity with three day low of Nifty at 8619 which will act as an strong support. 

However, for the next big up move spot nifty has to sustain above 8650 for a trading session.

Top five gainers were HSL Tech, TCS, Tata Steel, Hindalco Industries and Grasim Industries.  

Nifty Futures is expected to open at 8675 as per SGX Nifty at 8:30 am IST, which is 7 points below its previous close of 8682. 

For details visit us @  

www.capitalheight.com/freetrial.php 

Give a Missed Call at "989-33-582-33"

Nifty may Open on Positive Note

Post a flat start, the Nifty remained under pressure throughout the day and finally ended 28 points lower. Nifty futures settled at a premium of 48 points. India VIX fell 1.5 percent to 14.9. 

 For details visit us @ www.capitalheight.com/freetrial.php 

Give a Missed Call at  
"989-33-582-33"  

FIIs sold Rs 14 crore while DIIs bought Rs 148 crore in the cash segment. FIIs bought Rs 85 crore in index futures and Rs 1393 crore in index options. In stock futures, they sold Rs 866 crore.  

The highest Put base at the 8500 strike with 39 lakh shares while the highest Call base is at the 9000 strike with 47 lakh shares. The 8700 and 8800 Call strikes saw additions of 3.6 and 2.9 lakh shares respectively, while the 8600 and 8700 Put strikes saw additions of 2.8 and 3.2 lakh shares, respectively.

Nifty Future: The Nifty is likely to open positive on the back of strong global cues. Buy Nifty in the range of 8685-8695 for targets of 8725-8745, stop loss: 8670.  

Bank Nifty Future: Apart from a few midcap banks, all major banks remained under pressure throughout the day. However, the index continued to remain firm above the sizeable Call base of 19000. We feel dips in the index should be utilised to create fresh long positions. Buy Bank Nifty in the range of 18880-18930, targets: 19050-19150 stop loss: 18790.