On the institutional front, FPIs were net buyers for Rs 4323 crore while DIIs were net sellers to the tune of Rs 2130 crore, provisional data showed.
What a week for Indian markets. 1300-point climb for Sensex which took the index above Mount 38K for the first time September 14, 2018.
The Nifty50 also reclaimed 11,400 for the first time since September 18, 2018, and is all set to hit a higher target towards 11,500 levels.
Strong global cues and aggressive buying from foreign investors are some triggers that led to positive market sentiments. On the macro front, investors would watch out for current account deficit numbers to be released on Tuesday.
Globally the key event to watch out for in the coming week would be Federal Open Market Committee meeting scheduled to be held on March 19-20. The overhang on Brexit issues and OPEC’s supply cut are likely to hit the domestic market in a specific segment.
FPIs have poured in over Rs 19000 crore so far in the month of March in Indian markets while DIIs have used the opportunity to sell. They were net sellers in Indian equity markets to the tune of nearly Rs 9000 crore, data showed.
Rising for the fifth straight session, the rupee Friday jumped 24 paise to close at 69.10 against the US dollar on sustained foreign fund inflows and heavy buying in domestic equities.
On the institutional front, FPIs were net buyers for Rs 4323 crore while DIIs were net sellers to the tune of Rs 2130 crore, provisional data showed.
Technical View:
Nifty formed a Bullish candle on a weekly scale while a Shooting Star kind of formation on daily charts
The index has to continue to hold above 11333 zones to extend its up move towards 11550-11600 zones
Major support exists at 11280 then 11180 zones.
Three levels: 11370, 11487, 11500
Max Call OI: 11500, 11400
Max Put OI: 11000, 11200
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