Nifty has strong resistance at 3500: Networth
According to Networth Stock Broking’s Market Review report, Nifty has a strong resistance at 3500 while shortterm support exists at 2950 Banks and Real Estate to see up ward movement in today’s market.
Networth Stock Broking’s Market Review report:
Markets are expected to open up flat on the back of global cues; SGX Nifty is trading 34.5 points up at 3405. The entire OI in the markets increased to Rs. 83,890cr from Rs. 85,590cr. Out this Option saw an OI increase to Rs. 46,109cr from Rs. 45,409cr while Single Stock+Nifty Futures saw an increase in OI to Rs. 37,785cr from Rs. 40,179cr.
In Monday’s market’s, FIIs bought stocks in cash market worth Rs. 479.09cr while DIIs sold equities worth Rs. 1124.24cr. In derivatives, we saw FIIs sold worth Rs. 738.66cr. The over all PCR ratios moved up to 1.58 from 1.77.