View Full Version : Nifty selling pressure may subside if Nifty trades above 8240

06-17-2016, 05:27 AM
Nifty is expected to open gap up at 8203 as per SGX (https://www.dynamiclevels.com/en/sgx-nifty-future-index) at 8:10 am IST. Nifty (https://www.dynamiclevels.com/en/nifty-share-price) has seen a buying yesterday after falling from its recent highs of 8300, however if Nifty trades above 8240 the panic in the markets might get subdued. The FII and Pro are still on the sell side of the market as indicated from the open interest data below. In last 6 days they have sold 2.48 cr shares in Index options and 36 lakh share in Index futures.

Global markets are still subdued after the FOMC meet where The FED maintained status quo on its policy stance, signaling a gradual process in its rate hike trajectory. BOE too kept its interest rates at the same levels. Nervousness is expected to stay over the BREXIT referendum results due next week. Polling will be held between 12:30pm IST on 23rd of June and 3:30 am IST on the 24th of June. Fifty percent of the vote count results is expected to be released at 9am IST on the 24th of June and the final results are expected around 12:30 in the afternoon the same day. Survey conducted by the top polling bodies suggest that “Leave” voters are ahead of the “Remain” voters paving the way for Britain to exit the Eurozone. Read More (https://www.dynamiclevels.com/en/shailesh-saraf-stock-market-today-170616)