Nifty Future is opening gap up by 18 points against yesterday's close of 10365 as indicated by SGX Nifty which is currently trading at 10383, says Dynamic Levels.
Dynamic Levels' Market Outlook:
The market sentiment has changed to sell as FII and PRO have sold more than average contracts in Nifty Option, As per open interest data for consecutive 2 days .They have sold 195420 contracts in 2 days. SecondlyNifty and Small Cap Index has closed below their crucial level of 10341 and 8522 respectively.
Yesterday FII & Pro had created short position for 45978 contracts; average sell position per day is for 43000 contracts. Thus they have created more than average sell position. So we suggest to book profit in the marketand avoid buying at current levels.
Nifty Index yesterday fell by 0.45 percent and closed at 10303 after making low of 10286, the Index made high of 10384. Smallcap Index decline by 1.07 percent and closed at 8467 after making low of 8412, the Index made high of 8606.
Nifty Future is opening gap up by 18 points against yesterday's close of 10365 as indicated by SGX Nifty which is currently trading at 10383.
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