For today Indian markets looks strong as it has given hint by consecutive closes around 7850 and it made a case of a strong upside move in Nifty 50 among global and economic improving scenario and so it did by opening at 7879 by making a high of 7915 before settling at 7900 with 51.55 points gain i.e. 0.66% gain to the index….
All sectors were positive and a positive performance by Pharma and IT Sector also indicate a bullish scenario ahead as investors are stock specific as mid caps are outperforming the large cap heavyweight counters in improving market.
Sensex also looked highly bullish at the open as it gained 193 points i.e. a gain of 0.75% to the index and closed at 25790.
On the global front, European indices like FTSE (+0.34%), CAC (+0.83%) and DAX (-0.85%) were trading with decent gains while the time the report was made.
The Asian Indices like NIKKIE (+0.40%), HANGSENG (+0.46%) and SHANGHAI (-0.01%) displayed mixed trend.
FII’s Activity
Cash Market: Today FII’s have bought 24 cr. in the equity markets; whereas DII’s bought 258 cr. Consequently up till now, FII’s have been net seller in the cash segment to the tune of 738 Cr. while DII’s have bought 2163 Cr. in current series.
F&O Segment: On the Derivative front FII’s have been net buyer for the day to the tune of 836 cr. The data suggest that they have bought 420 cr. in the Index Futures (majorly fresh long) as well as they have bought 340 cr. worth Stock Futures (addition of fresh long along with liquidation of existing short positions). Whereas on the Index Option front they have bought 41 cr. (addition of fresh CE option along with fresh short position in index Put option).
Index Option Tracker
The Call PUT concentration is at 8000 strike CE with an open interest of 65.78 lakh shares. On the other hand, highest PUT base is at 7700 strike with 57.16 Lakh shares.
In the May series, CE options recorded liquidation of 0.58 Lakh shares in open interest with a fall in price; on the other hand PE option added 29.24 Lakh shares in open interest with a fall in price.
The highest open interest activity was observed in the 7900 -- 8200 strikes CE with an aggregate open interest of 2.36 cr., on the flipside highest PE activity was seen in 7500 – 7900 strikes to the tune of 1.99 cr. open interest.
The 8100 strike CE added 3.41 Lakh; while on the put side addition was seen 7900 strike to the tune of 10.4 Lakh shares.
Whereas unwinding was seen in 7600 strike PE.
In NSE, Dr Reddy's Labs, ICICI Bank, Tata Motors, Asian Paints and SBI were top gainers while HUL, M&M, Axis bank, Maruti Suzuki and HDFC were major losers in the Sensex.
Are you enjoying levels on daily basis or not???
We Booked part profit in Asian paints (Future); told to buy around 900. It made a high of 935 before settling at 932. We booked part profit above 925.
We booked full profit in Rallis India (Cash)….told to buy around 205--202.It made a high of 210.10 before settling at 209.35…we booked full profit around 208 above.
We booked full profit in Dish TV option 100 (CE) call told to buy around premium 1.80. It made a high of 2.60 before settling at 2.15…we booked full profit around 2.30.
We booked part profit in India cement (Future); told to buy around 91.00—90.50. It made a high of 93.10 before settling at 92.95. We booked part profit above 93 and told to book full profit 94.00—94.50.
We enjoyed Motherson Sumi Systems (Fut) ;told to buy around 262--260. It made a high of 268.40 before settling at 268.30.
We Booked full profit in L&T (Fut);told to buy around 1290.It made a high of 1342 before settling at 1323.65…..we booked full profit around 1035—1030.
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Now what next for today??
Nifty futures has immediate resistance at 7940. If this level breach then it will test 7980---8050. More and more power will see only close above 8050 mark else it could test its support level of 7850 again.
Support is maintained at 7850. If this level not sustain then we will see further downside panic till next support at 7810—7770 and then to 7700 mark.
7650 act as major support.
Trade with levels only. More will update during market hours
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