Monday, 12 March 2018

Markets Set To Open Gap Up On The Back Of A Strong Rally In The US Markets

Posted by suhani varma on Monday, March 12, 2018 with No comments



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SGX Nifty indicating a gap up opening for the Indian markets SGX Nifty indicating a gap up opening for the Indian markets. Indian markets are expected surge higher in today’s trade in line with global equities. The global markets gained on the back of strong economic data release in the US markets and declining geopolitical concerns between North Korea and the US. 

Global markets
Asian markets are trading in the green at present. Nikkei is currently up 1.51 %, Hang Seng is trading 1.29% higher, while Shanghai Composite is trading flat up 0.31%.

US Markets: Stocks witnessed a sharp rally in Friday’s session with Nasdaq managing to close at record highs. Markets managed to close at the best levels for the day with Dow ending 1.8% higher at 25,335.74, the Nasdaq spiked 1.8% ending at 7,560.81 while the S&P 500 surged 1.7% to 2,786.57.

The rally on Wall Street came after the Labor Department released a report showing much stronger than expected job growth in February.

European markets also closed in the green on Friday with the FTSE closing 0.29% higher, CAC ended 0.38% higher while DAX ended flat down 0.07%. 

FII Data:
In yesterday’s session FII’s bought 550 crores stock in the cash market whereas DII’s sold 65 crores worth of stock. In the derivative market, FII’s bought 235 crores of index futures and sold 109 crores worth of Index options. In the stock futures segment, FII’s bought 89 crores worth of stock futures and sold 185 crores stock options.

FII View:
FII trading activity in Friday’s session suggests that they have a mildly bearish view in the short term, which is deduced from the fact that they created 11,893 short contracts in Index Call Option while they also purchased 10,709 long contracts in Index put options.
FII
OI(000's)
% Chg
% Chg Since Expiry
Long/Short Ratio
Long/Short Since Expiry
Future Index Long
107
1
55
0.9
1.0
Future Index Short
114
(2)
61
Option Index Call Long
227
3
54
1.7
1.0
Option Index Call Short
130
10
53
Option Index Put Long
350
3
47
2.7
1.2
Option Index Put Short
131
5
24
Support / Resistance: Intraday
Nifty: 10226
S1 – 10190
S2-10140
R1-  10320
R2 -10420
Support / Resistance: Intraday
Bank Nifty: 24296
S1 – 24180
S2-24000
R1 - 24680
R2 -24800
Nifty Highest Open Interest:
Call: 10500 / Put: 10000

Bank Nifty Highest Open interest: (15th March 2018 Expiry)
Call: 25000 / Put: 24000

Stocks in Ban Period: BALRAMCHIN, DHFL, IDBI, JPASSOCIAT

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