Nifty to open gap up by 23 points at 9479: Dynamic Levels

By | May 25, 2017

Nifty to open gap up by 23 points at 9479 against yesterdays close of 9456 as per SGX Nifty, says a report by Dynamic Levels.

Nifty at crucial juncture, FIIs remain net sellers, S&P recovers from low

In the last two days of trading session of last week , FIIs have build short positions for 108617 contract in Options segment. In cash segment both FII and DII remain net seller for RsĀ 102 crore in last two trading sessions. Indian benchmark Index Nifty erased early gains to end flat on Friday as political turmoil deepens in Washington and the Brazilian political crisis raises concern ahead of the weekend.

The Nifty Index traded above 9500 levels after the government finalized Goods and Services Tax rates for substantial items, clearing a major hurdle towards July 1 rollout of the country’s biggest indirect reform to create one unified market.But the Index was not able to maintain its momentum and came down to 9400.

Last week Nifty showed profit booking from its all time high level of 9533 and closed at 9428 after making a low of 9391. Bank Nifty closed at 22770 after making a low of 22628.

Small Cap Index last week was down by 2.13 percent.The Index closed at 7400 after making a low of 7366.

Nifty to open gap up by 23 points at 9479 against yesterdays close of 9456 as per SGX Nifty.

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