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Nifty likely to open gap up by 16 points: Dynamic Levels

January 03
11:42 2018

Dynamic Levels’ Market Outlook:

The benchmark indices Nifty yesterday settled unchanged in a range bound session. Nifty rose by 6 points or 0.06% to close at 10442 after opening at 10478 and making a low of 10405.

FII and PRO in combined have bought 67813 contracts in Index Options in last 10 days. The cash market index Smallcap index has taken support of its 2 day low of 9062 and closed at 9109 which is well above its 2 day low.

Among the Sectoral indices, IT stocks zoomed. Rolta (up by 13.47%), Compuage Infocom (up by 10%) and L&T Technology services (up by 3%). Carbon stocks also rallied, Himadari Specialty Chemical was up by 9.77%, Rain Industries (up by 7.41%) and Philip Carbon (up by 5.11%).

Nifty Future is opening gap-up by 16 points against last close of 10472 as indicated by SGX Nifty which is currently trading at 10485.

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