Small-Cap Gainers- Stock Market Tips Today by Ripples Advisory – 23rd July 2019

FII & PRO continue to sell in Index options and have sold more than 2 lakh contracts in last three days as foreign fund outflows following the announcement of a tax on the super-rich in the Union Budget is pulling the Indian markets down. Last week the Index also broke its important support level of 11461, suggesting further weakness in the market up to 11100 levels. Yesterday the market made a low of 11301 and closed at 11346, on higher side 11461 may act as resistance for the market.

The cash market Index Small cap also fell sharply to close at 5763 down by 1.57% from its previous close. The next level for Small cap is 5660.

Sector Analysis:
The market continues to be in a volatile zone. Yesterday market ended in a negative note, all major and minor sector followed the trend, ended in red except metal & mining in major sector managed to end in positive territory while among minor sector Airlines and Interior Construction sector rose 3.84% and 1.66% respectively.

The US 10 Year T-Note is trading at 127.48. The Bond has crucial support at 117.42 made on 5th Nov 2018. The US Dollar Index is trading at 97.123.

Open Interest Analysis:
FII & PRO are the major players in the Derivatives segment and have an upper hand in the market and their position provides direction to the market. In the July month expiry, they have started with the position of (-47429) contracts in Index option (both FII & PRO combined) when Nifty spot was trading at 11842. As on last trading day, they have a net position of (-260575). Thus they have sold 213146 contracts in the current July expiry.

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