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5.4

Nifty likely to open gap down by 110 points: Dynamic Levels

Dynamic Levels’ Market Outlook:

The Indian Benchmark Index Nifty has given a correction of 3.9 percent from its recent high of 11172. In the Index options, FII & PRO in combined have sold 588482 contracts in last 10 days and in the current expiry, they have sold 336143 contracts. This type of position building by the FIIs and PRO in Index options may show further selling in the Indices.

The cash market Benchmark Index Small Cap and Mid Cap Index have given 15.9 percent and 9 percent correction respectively from their recent highs.

The Morgan Stanley Emerging Market Index also corrected 48 from their recent high of 1278.53 and currently trading at 1230.83

Nifty Future is opening gap down by 110 points against Friday’s close 10741 as indicated by SGX Nifty which is currently trading at 10630.

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