Nifty futures set to consolidate between 21500-21800 levels as FIIs adjust positions; Pharma and Chemical sectors show promise
时间:2024-06-26 09:25:23 阅读(143)
The January series Nifty futures started with a premium of around 220 points. The Nifty rolled around 80% and Bank Nifty around 81%. For the Index futures, FIIs have increased the long positions to 70% from 36% at the start of the January series.The Index is now likely to consolidate till 21500 is not breached on a closing basis, for the first fortnight of the December series.
21500-21550 might be the immediate support and only a decisive close below it might bring in further downside.VIX for the Nifty is currently at 14.5 and likely to remain in the 12 to 16 range implying a range of around 800 points.FIIs started this series with Long position in Index futures of around 70% vs 36% last month, which are currently marginally down to around 69% shorts.
Above this, Nifty is to be positively biased for the short term towards 21800. With FIIs marginally reducing their long positions, we expect Nifty could consolidate between the 21500-21800 levels.
The ratio between Bank Nifty and Nifty is currently at 2.21, this ratio has a support at 2.19 and resistance near 2.28. We expect Bank Nifty to underperform the Nifty this series.
Sector-wise, Pharma and Chemicals look good in Nifty.
Nifty Call Spread:-
Sell Nifty 4 JAN 21600 CE @ 120Sell Nifty 4 JAN 21600 PE @ 100Spread @220, SL @ 270, Target 120.
上一篇:Bullion prices expected to correct from current level; Gold resistance placed at Rs 61300-61830
下一篇:Zomato announces Daily Payouts for small restaurants for better cash flow
猜你喜欢
- FII, DII data- FPIs sold shares worth Rs 1725cr, DIIs bought shares worth Rs 1077 cr on September 5, Tuesday
- Big Bull Rakesh Jhunjhunwala passes away at 62
- Eight of top 10 firms lose Rs 1 lakh cr in mcap; Infosys, HDFC Bank, TCS biggest laggards
- F&O Outlook- Nifty may head towards 17700-17800, traders advised to maintain positive bias
- Blue Jet Healthcare shares set to debut on bourses; GMP looks favourable
- Bitcoin price may hit $60,000 this quarter – 5 reasons why
- Buy Dixon, Wipro shares for gains; Bank Nifty may head to 38000 soon
- Bharti Airtel share price falls 5% from day’s high ahead of conference call; what should investors do post Q4-
- Eight of top-10 firms add Rs 98,235 cr in m-cap; Infosys, TCS lead gainers