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Indian Market Outlook:
Last day, the Indian Market witnessed heavy selling from 1.10 P.M. The Benchmark Index Nifty made a previous day low (PDL) of 9956 after making a high of 10067 and finally closed at 9985. The Small Cap Index also fell by 213 points from its high of 8010 and made a low of 7797. The Index finally closed at 7848.
The FII + PRO in combined have sold 52272 contracts in Index Options. However in the current expiry they has a buy position of 72468 contracts. If Nifty and Small Cap trade below its previous day’s low of 9956 and 7797, then further selling may be seen in the market.
Among the Major Sectors, Chemicals, Metals and Mining and Energy Oil and Gas were up by more than 1.50% from their day’s low. Among the Minor Sectors, Carbon, Telecom and Sugar shows buying from day’s low.
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