Thursday 1 March 2018

Markets Indicate A Gap Down Opening, As Global Equities Crack

Posted by suhani varma on Thursday, March 01, 2018 with No comments



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SGX Nifty is indicating a gap down opening for the Indian markets.SGX Nifty is indicating a gap down opening for the Indian markets.

Indian markets are expected to witness selling pressure, in-line with global equities. India’s Q3FY18 GDP growth came in at 7.2% vs. 6.5% (qoq) & vs. 6.7% (yoy).

In stock specific news, Reliance Power approves QIP of 2,000cr, which would be used to reduce debt. According to media reports, Bharti Airtel suggested that it would like to exit the tower business.

Global markets: 
Asian markets are trading in the red at present. Nikkei is currently down 1.74%, Hang Seng is trading 0.74% lower, while Shanghai Composite is trading flat, up 0.17%.

US Markets: Stocks witnessed a volatile trading session closing near the low point of the day. The Dow cracked 1.5% to 25,029.20, the Nasdaq dipped 0.8% to 7,273.01 and the S&P 500 tumbled 1.1% to 2,713.83. The volatility on Wall Street continued, as traders expressed uncertainty about the outlook for interest rates after new Federal Reserve Chairman Jerome Powell seemed to indicate that the Fed may raise rates more than the three times.

European markets also witnessed selling pressure, ending the session in the red yesterday with the FTSE closing 0.70% lower, CAC ended 0.44% lower with the DAX also dropping 0.44 %. 

FII Data: 
In yesterday’s session FIIs sold 1,750 crore stocks in the cash market, whereas DIIs bought 1,596 crore worth of stocks. In the derivative market, FIIs sold 353 crore of Index futures and bought 1,190 crore worth of Index options. In the Stock futures segment, FIIs bought 363 crore worth of stock futures and bought 63 crore stock options.

FII View:
FII trading activity in yesterday's session suggests that they expect the market to be volatile in the near term, which is deduced from the fact that they purchased 7,584 fresh contracts in Index call options and 12,284 fresh contracts in Index put option.
FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long88(3)271.11.1
Future Index Short81214
Option Index Call Long2014362.31.3
Option Index Call Short88(1)4
Option Index Put Long3064282.41.1
Option Index Put Short127520
 
Support / Resistance: Intraday
Nifty: 10492
S1 – 10400S2-10330
R1-  10540R2 -10630


Support / Resistance: Intraday
Bank Nifty: 25107
S1 – 24900S2-24750
R1 - 25200R2 -25350


Nifty Highest Open Interest:
Call: 10700 / Put: 10400

Bank Nifty Highest Open interest: (1st March 2018 Expiry)
Call: 25500 / Put: 25000

Stocks in Ban Period: FORTIS, JPASSOCIAT, ORIENTBANK

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