Nifty futures opened positive by 10 points, but it turned negative sharply after IIP numbers were out trading in a narrow band of 40 points from 5733 to 5693 throughout the day. Nifty futures closed down by 9.5 points at 5711.1 with a premi-um of 27.4 points to the spot closing of 5683.70.
The overall market breadth of F&O stocks was mixed with 75 declines and 81 advances. McDowell had a dream run with gains of 34% after the deal was being confirmed. Sectors like banking and realty has seen long open interest buildup while capital goods and metals continue their south bound journey with 0.9% and 0.6% negative closing.
Nifty futures should see momentum if 5750 is crossed on the upside for a target of 5800 levels. The resistances are placed at 5780/5820 levels while on the downside supports are placed at 5690 and 5650 levels.
The overall market breadth of F&O stocks was mixed with 75 declines and 81 advances. McDowell had a dream run with gains of 34% after the deal was being confirmed. Sectors like banking and realty has seen long open interest buildup while capital goods and metals continue their south bound journey with 0.9% and 0.6% negative closing.
Nifty futures should see momentum if 5750 is crossed on the upside for a target of 5800 levels. The resistances are placed at 5780/5820 levels while on the downside supports are placed at 5690 and 5650 levels.
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