Market View: Nifty, Sensex, BankNifty on 8 Apr 24
What happened during weekend?
1. On Friday, US indices made further gains mostly due to tech and energy sectors.
2. Oil prices were up further for consecutive second week.
3. A good earnings numbers are expected for tech stocks this season.
4. On Friday DIIs sold stocks worth Rs 3370 Cr, while FIIs bought stocks worth Rs 1659 Cr, which looks like role reversal.
5. Overall FIIs+DIIs hold 45% short and 34% long positions in Index Futures (as per Friday’s data).
6. Expecting a positive opening as per current data but since DIIs have started selling who were the drivers of recent rally, further upside potential in the market is limited till a good correction comes.
7. Option Scalper is showing strong resistance at 22560 level for NIFTY while nearmost support is pegged at 22512 level.
1. On Friday, US indices made further gains mostly due to tech and energy sectors.
2. Oil prices were up further for consecutive second week.
3. A good earnings numbers are expected for tech stocks this season.
4. On Friday DIIs sold stocks worth Rs 3370 Cr, while FIIs bought stocks worth Rs 1659 Cr, which looks like role reversal.
5. Overall FIIs+DIIs hold 45% short and 34% long positions in Index Futures (as per Friday’s data).
6. Expecting a positive opening as per current data but since DIIs have started selling who were the drivers of recent rally, further upside potential in the market is limited till a good correction comes.
7. Option Scalper is showing strong resistance at 22560 level for NIFTY while nearmost support is pegged at 22512 level.
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Our Telegram Channel: @CheetaTrader
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