NiftyFuture last close: 17941.75 (-0.5%)
Indian equity benchmark ended lower on January 16 amid volatility
After a gap-up start, the market remained positive for a couple of hours
Then FIIs was back with full strength and index fell 0.5%
NF was opened 18050 and went to 18097 then slipped to 17886. Finally ended at 17941
Sensex closing 168.21 points, or 0.28 percent down at 60,092.97
Nifty falling 61.80 points, or 0.34 percent, to 17,894.80
PSU bank index added 1.5%, IT index a percent and the energy index added 0.6%
Metal index closed 1.3% down and bank, auto and infra indices lost 0.5% each
Midcap and smallcap indices ended flat
VIX was ended around 15
Govt cuts windfall tax on crude, Export taxed on aviation fuel and diesel
Govt cut export tax on ATF to Rs 3.5/lit from 4.5/lit
Govt cut export tax on diesel to Rs 5/lit from Rs 6.5/lit
Also cut windfall tax on crude Rs 1900/tonne from Rs 2100/tonne
Today’s result stocks BOI, IciciGI, Icicipru, Deltacorp, Mastek and Metrobrands
FIIs net sold 750 crore while DIIs net bought 685 crore
L&Tfin, Ibullshsgfin and GNFC are under F&O ban for Jan 17
US futures lower and cash market was shut on Jan 16
European markets close higher for the 4th straight session
Crude lower and brent crude settled at $84/bbl
Gold steadies near 9-month high at $1914/oz
Asian markets are mixed in early trade
Nikkei up 1% and Hangseng flat note
China GDP YoY 2.9% vs 3.9% (Forecast 1.6%)
China’s population starts shrinking first drop since 1960
SGXNifty indicates a flat opening for the index
Likely to witness highly volatile will be expected during the day
As per open interest CE side added huge OI like 17900CE, 18000CE and 18100CE
However, NiftyFuture is facing a intraday resistance 17980 and 18000
If sustains above 18000 will try to check 18050
On flip side, NF can be considered as supports as 17900, 17880 and 17820
Below 17820……. Expecting more pain
