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On the upside, we expect the Nifty to target levels of 19,650. In terms of levels, crucial support zone is placed at 19,330 – 19,300 and immediate hurdle is placed at 19,520 – 19,550
In this week, FIIs purchased equities worth Rs 3,115.26 crore, while DIIs offload equities worth Rs 776.69 crore. In this month so far, FIIs bought equities worth Rs 17,697.89 crore and DII sold equities worth Rs 8,906.19 crore
Nifty can face a hurdle around 19,200 on the back of more call writing compared to put writing. However, option activity at 19,200 Strike will provide cues about Nifty Intra-day direction on Monday, says Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities.