Nifty Future to open gap down by 239 points: Dynamic Levels

The Indian benchmark Index Nifty yesterday witnessed buying after seven day of losing streak. The Index opened gap up at 10519 and closed at 10577 after making a high of 10638.

The Index advanced 100.15 points or 0.96 percent. Major players of the market FII & PRO have bought 120264 contracts yesterday which suggest further buying the market. However one should be cautious as in the current expiry they have sold 424784 contracts.

Markets may trade volatile in the coming days and may take cues from global market performance especially US market. However immediate support for Nifty is 10446, breaching this level may take Nifty to 10276.

The Cash Market Benchmark Index, Small Cap has outperformed Nifty and gained 198 points or 2.40 percent from its previous close. The Index open at 8315 and closed at 8467 after making a high of 8495.

Nifty Future is opening gap down by 239 points against yesterday’s close 10572 as indicated by SGX Nifty which is currently trading at 10333.

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