Tuesday, 6 March 2018

Markets Set To Open In The Green In Line With Asian Peers

Posted by suhani varma on Tuesday, March 06, 2018 with No comments



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SGX Nifty indicating a positive opening for the Indian markets. Indian markets are expected to witness a bounce back in today’s trade after witnessing 4 consecutive sessions of selling pressure.

In stock specific news, according to media reports JSW Steel signs MoU to acquire Italy’s second largest steelmaker Aferpi. HDFC Bank hikes bulk deposits rates up to 175bps.

Global markets
Asian markets are trading in the green at present. Nikkei is currently up 2.07 %, Hang Seng is trading 0.92% higher while Shanghai Composite is trading marginally lower down 0.28%.

US Markets: Stocks recovered significantly after initially trading in the red. The Dow jumped 1.4% to 24,874.76, the Nasdaq surged 1% to 7,330.70 and the S&P 500 gained 1.1% to 2,720.94.

The rebound was witnessed after the recent volatility in past few sessions on account of uncertainty about a potential global trade war and an increase in interest rates.

European markets closed in the green yesterday with the FTSE closing 0.65% higher, CAC ended 0.59% higher with surging 1.47%.

FII Data:
In yesterday’s FII’s sold 366 crores stock whereas DII’s sold 154 crores worth of stock in the cash market.

In the derivative market, FII’s sold 1487 crores of index futures and bought 1373 crores worth of Index options.

In the stock futures segment, FII’s sold 472 crores worth of stock futures and bought 72 crores stock options.

FII View:
FII trading activity in yesterdays' session suggests that they expect the market to remain volatile in the near term, which is deduced from the fact that they purchased 12,721 fresh contracts in index call options and purchased 13,451 contracts in index put options.
FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long77(7)120.80.8
Future Index Short981638
Option Index Call Long2226502.21.2
Option Index Call Short1021020
Option Index Put Long3144322.51.1
Option Index Put Short126(1)19
 
Support / Resistance: Intraday
Nifty: 10358
S1 – 10330S2-10270
R1-  10420R2 -10540


Support / Resistance: Intraday
Bank Nifty: 24818
S1 – 24680S2-24500
R1 - 25000R2 -25200

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

Bank Nifty Highest Open interest: (8st March 2018 Expiry)
Call: 25500 / Put: 24500

Stocks in Ban Period: FORTIS, HDIL, IDBI, ORIENTBANK

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