Thursday 12 July 2018

Markets Set To Open On A Positive Note Ahead Of Weekly Bank Nifty Expiry

Posted by suhani varma on Thursday, July 12, 2018 with No comments

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SGX Nifty is currently trading in the green up 29 points at 10,977 levels. Markets could continue its upward trend after having witnessed a sideways consolidation in yesterday’s trade.

Trade war concerns continue to affect the global equity markets but our markets have relatively outperformed in the past few trading session and traders would be hoping for this uptrend to continue.

Crude oil plunged the most in two years which is a positive for the domestic market.

The focus would be on the result session which is currently underway. Karnataka Bank would be announcing its Q1 results later in the day.
Global markets

Major Asian markets are trading with a positive bias at present; Nikkei is up 1.20%, Hang Seng is up 0.15%, while Shanghai Composite is trading 0.8% higher.

US Markets: Stocks closed in the red yesterday, the Dow dipped 0.9% to 24,700.45, the Nasdaq corrected 0.6% to 7,716.61, and the S&P 500 slid 0.7% to 2,774.02. The S&P 500 pulled back off its best closing level in five months. The selloff on Wall Street came amid renewed concerns about the economic impact of a global trade war after President Trump's administration proposed new tariffs on China.

European markets too ended in the red yesterday with FTSE down 1.32%, CAC was down 1.5%, while DAX closed 1.55% lower.

FII Data: In yesterday’s trading session, FIIs bought 636cr stock in the cash market, whereas DIIs bought 15cr worth of stock. In the derivative market, FIIs bought 708cr of index futures and sold 628cr worth of index options. In the stock futures segment, FIIs bought 766cr worth of stock futures and sold 66cr stock options.

FII View: In yesterday’s trading session, FII continued to build bullish positions in the derivatives market, which is deduced by the fact that they purchased 3,859 long contracts, while simultaneously reducing 3,910 short contracts in index futures. They also created 15,029 short contracts in index put options. The long-short ratio since the start of the July series stands at 1.8x which is a bullish sign.
 FIIOI
(in000's)
% Chg% Chg 
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Future Index Long1373851.01.8
Future Index Short141(3)3
Option Index Call Long176(1)172.11.1
Option Index Call Short8249
Option Index Put Long3024112.60.7
Option Index Put Short1171549
Support / Resistance: Intraday
Nifty: 10948
S1 – 10,880S2-10,800
R1-  11,050R2 -11,140
Support / Resistance: Intraday
Bank Nifty: 26816
S1 – 26,770S2-26,600
R1 - 27,000R2 -27,150
Nifty Highest Open Interest:
Call: 11,000 / Put: 10,600
Bank Nifty Highest Open interest: (July 12, 2018 Expiry)
Call: 27,000 / Put: 26,600
Securities in Ban Period: IDBI
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