Having surged for six straight weeks now, domestic benchmark indices Sensex and Nifty sit close to their highest levels ever. S&P BSE Sensex closed final week at 46,099 whilst the Nifty 50 was at 13,513. On Monday morning, international cues had been optimistic with Asian peers trading with gains. Shanghai Composite was trading in the green along with Hang Seng. TOPIX zoomed more than 1% on Monday morning whilst KOSAQ was trading flat with a damaging bias. With vaccine rollout starting in numerous nations across the planet, like England and the United States, investors may well be gauging the optimistic developments and extending bullish bets.
Global watch: Stock markets in the United States closed mixed on Friday with Dow Jones gaining whilst S&P500 and NASDAQ slipped. South Korean markets had been trading with marginal losses on Monday morning whilst Japanese, Chinese, and other big Asian markets gained. SGX Nifty was trading 45 points greater.
FII and DII information: Foreign Institutional Investors (FII) do not appear to be slowing down their net obtaining of domestic securities. On Friday, FIIs purchased Rs 4,195 crore worth of domestic stocks. This month has currently observed obtaining worth Rs 23,817 crore. Domestic Institutional Investors (DII) on the other hand have been net sellers and continued that trend on Friday, promoting Rs 2,359 crore worth of domestic securities.
Deals: On Friday Serum Institute of India sold 4.38 lakh shares of Panacea Biotech at Rs 248.2 per share. Adani Logistics Limited sold more than 30 lakh shares of Snowman Logistics at Rs 64.92 per share. Multiples Private Equity Fund sold more than 10 lakh shares of PVR whilst Ishana Capital Master Fund purchased shares of the business.
Call and Put solution information: For the December series, maximum Call Open Interest (OI) is placed at 13,000 strike with 23.93 lakh contracts, followed by 13,500 strike with 21.37 lakh contacts. Put OI is most at 13,000 strike with 38 lakah contracts. The 13,200 strike has 23.94 lakh contracts.
Support and resistance: On the charts, Nifty could obtain assistance at 13,200, according to Dharmesh Shah, Head – Technical, ICICI direct, as it is confluence of 50% retracement of existing up move (12730- 13579), placed at 13,155, and final week’s low is placed at 13,242. The 50-stock index may well stay variety bound this week. “The present consolidation movement could eventually result in an upside continuation by next week. A sustainable upmove above 13600 levels is expected to pull Nifty towards 13900 levels in the near term,” mentioned Nagaraj Shetti, Technical & Derivatives Analyst, HDFC Securities whilst acquiring assistance for Nifty at 13,400.