Nifty likely to open gap up by 17 points: Dynamic Levels

January 05
09:41 2018

Dynamic Levels’ Market Outlook:

Yesterday major players of the market FII & PRO have bought 96090 contracts which is more than twice the average buy contracts. In last 10 days they have a buy position of 126728 contracts.

Metal sector was the top performer of the market after the release of positive services data from China.APL Apollo tubes (up by 8.38%), Jindal saw (up by 7.98%) and Vardhaman Special steels ( up by 5.94%). Cement sector was also up.Visaka Industries was up by 18.42% and KCP was up by 8.70%.

The Benchmark Index Nifty yesterday closed with modest gains supported by global market sentiment. The Index opened at 10469 and made high of 10513 to finally settle at 10505.The Index advanced by 62 points or 0.60%.

The cash market Index has however made an all the high of 9315 an closed at 9310. Shares of PSU banks advanced after report suggested that the government was seeking to take Parliament’s nod for additional Rs 80000 crore bonds aimed at recapitalizing the ailing public sector banks.

Nifty Future is opening gap up by 17 points against yesterday’s close 10526 as indicated by SGX Nifty which is currently trading at 10543

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