Nifty Future is opening gap-down by 32 points against yesterday's close of 10159 as indicated by SGX Nifty, which is currently trading at 10128, says Dynamic Levels.
Dynamic Levels' Market Outlook:
The NSE benchmark Index Nifty has corrected more than 300 points from its recent high of 10410 made on November 28, to make a low of 10096 in the last trading session. The major players, FII and Pros have built up huge short positions of 388113 contracts in Index Options in last few days. Also in the last trading session, they have made a short position of 25911 contracts. If Nifty breaks yesterday’s low of 10094 and sustain below that level, then the next target for Nifty will be 9955.
The cash market benchmark Index-Small Cap also has given a correction of 338 points from its recent high of 8823 made on December 1 to make a low of 8485 yesterday. If the Index trades below 8485, then the next level will be low of 8430, below which the target will be its one-month low of 8247.
Nifty Future is opening gap-down by 32 points against yesterday's close of 10159 as indicated by SGX Nifty, which is currently trading at 10128.
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