Nifty Futures is expected to open at 8678 as per SGX Nifty at 8:30 am IST, which is 24 points above its previous close of 8654, says Dynamic Levels.The last few weeks have witnessed choppy movement in the benchmark Nifty and this has been on the account of out performances by banking stock which had been pulling the Nifty up and under performances by IT stocks pulling it down. Nifty after an initial uptick of 8682 corrected downwards to 8620 levels before a 40 points pullback was witnessed at closing. Bank Niftyis trading in a range of 19250-19450 after giving a breakout last week.
Today is the last day of August F&O series and volatility can be expected, FII and DII have started profit booking in cash segment and last few days combined data has been on the sell side. Top 5 gainers for yesterday were Aurobindo Pharma, Tata Power, Maruti, Cipla and Zee Entertainment. Nifty Futures is expected to open at 8678 as per SGX Nifty at 8:30 am IST, which is 24 points above its previous close of 8654.
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