Expect Nifty to take support at 4220: Networth
MUMBAI: Networth expects the markets open lower and Nifty take support at 4220. It sees selling to emerge in oil & gas and commodities.
“Markets are expected to open down on the back of global cues; SGX Nifty is trading 25 point up at 4365. The entire OI in the markets decreased to Rs 88, 080 crore from Rs 89,320 crore. Out this Option saw an OI increased to Rs. 47,258 crore from Rs. 45,857 crore while Single Stock+ Future saw a decreased in OI to Rs 40,821 crore from Rs. 43,467 crore.
In yesterday’s market’s, FII sold stocks in cash market worth Rs. 363.99cr while DIIs bought equities worth Rs. 569.10cr. In derivative, we saw selling worth Rs. 1325.66cr. The over all PCR ratios moved down 0.90 from 1.00.
We expect Nifty to have resistance at 4480 and support at 4220. Banking & financial, real estate and infrastructure to see buying, while oil & gas and commodities to see selling,” said Networth Stock Broking note.
source: Economictimes
Tags: indian market, nifty resistance, nifty support, nse bse tips, NSE Tips, sensex technicals, stock market, stocks nse
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