Nifty may open gap up by 12 points: Dynamic Levels

November 16
09:42 2017

Dynamic Levels’ Market Outlook:

In the current expiry, FIIs and Pros combined have sold 368954 contracts in Index Options. They have created a short position of 69507 contracts yesterday as well, where the daily average is 43000 contracts. Nifty corrected 81 points from day’s high of 10175 and made a low of 10094 and finally closed at 10118.

Nifty has fallen 396 points from its recent high of 10490 which it has made on November 6, 2017. The short term trend for markets is expected to remain sell and Nifty is expected to meet its target of 9956 which is the 5-week low for the Index.

The cash market benchmark Index Small Cap also witnessed a big sell of 201 points from its high of 8448 and made a low of 8247 and finally closed at 8288.

Nifty Future is opening gap up by 12 points against yesterday’s close of 10154 as indicated by SGX Nifty which is currently trading at 10166.

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