Nifty may open on positive note, gain 31 points: Dynamic Levels

November 21
10:42 2017

Dynamic Levels’ Market Outlook:

Nifty has strong resistance at 10344 as FIIs & Pros still sell in current expiry

Nifty was not able to trade above its previous week high of 10344 yesterday and closed at 10299. In the current expiry, FII and Pros combined have a sell position of 296772 contracts in Index Options which suggests that the major players are still short in the market.

Realty stocks continued its upward momentum led by Purvankara which zoomed by 18 percent, Kolte Patil gaining 11 percent, and Ajmera Realty rose by 8 percent.

Nifty Future is opening gap up by 31 points against yesterday’s close of 10318 as indicated by SGX Nifty which is currently trading at 10349.

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