Nifty to open flat led by weak global cues: ICICIdirect

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Post a negative start, the Nifty remained lacklustre in the first half. However, a sharp sell-off was seen in the second half on the back of selling in metals, banking, IT, realty and capital goods. The index finally ended 85 points lower. Nifty futures settled at a premium of 14 points. India VIX rose 5.1 percent to 15.8. FIIs sold Rs 26 crore while DIIs sold Rs 175 crore in the cash segment. FIIs bought Rs 437 crore in index futures and Rs 758 crore in index options. In stock futures, they sold Rs 656 crore. The highest Put base is at the 8000 strike with 69 lakh shares while the highest Call base is at the 8400 strike with 55 lakh shares. The 8400 and 8300 Call strikes saw additions of 11.0 and 0.3 lakh shares, respectively, while 8400 and 8300 Put strikes saw reductions of 11.4 and 3.2 lakh shares, respectively. Nifty Bank The index has slipped below the support level of 19000 on the back of selling in Axis Bank after its quarterly results. Nifty Bank is likely to remain volatile, going ahead, as results of heavyweights are lined up. Nifty Future: The Nifty is likely to open flat on the back of weak global cues. Sell Nifty in the range of 8390-8400 for targets of 8340-8320, stop loss: 8420. Nifty Bank Future: The index has slipped below the support level of 19000 on the back of selling in Axis Bank after its quarterly results. Nifty Bank is likely to remain volatile, going ahead, as results of heavyweights are lined up. Sell Bank Nifty in the range of 18950-19000, targets: 18850-18750, stop loss: 19080. Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.