EQUITY RESEARCH LAB: DERIVATIVE
REPORT 8TH APRIL
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NIFTY FUTURE
Sensex closed 215 points down at 24,685.42, while Nifty 50 settled 67.90 points
down at 7,546.45. Nifty slid nearly 1 per cent on Thursday as investors
continued to book profit in the recent outperformers ahead of result season
which is expected to remain weak. Sentiments also remained under pressure
after data showed that foreign institutional investors sold shares worth Rs
493.56 crore on Wednesday.
Technical views:
Nifty future closed at 7565.05 on Thursday. Nifty closed Near to the 7500. nifty
may continue bullish trend further, next resistance for nifty may be 7950.
NIFTY DAILY CHART
BANK NIFTY FUTURE
Bank Nifty trade downward in the full trading session and closed at
15591.40 on Thursday . bank nifty shown consolidation in on the Daily
chart and also break the level of 16000 . INDUSIND BANK (-1.65%) and
SBIN BANK (-1.03%) is the top losers in bank nifty future.
Technical views:
Bank nifty trade in the new level of 15500 and consolidated at that level
,some more range bound movement may be seen in bank nifty, above the
level of 16000 bank nifty may be show the level of 16400-16800.
BANK NIFTY DAILY CHART
USD/INR
The Indian rupee declined further, opening at 66.72 a dollar on
Thursday, down 7 paise compared to 66.65 a dollar in previous
session. As expected, minutes of the Fed meeting in March were
dovish. Oil prices moved higher on fall in US inventory. However,
impact of this on currency markets was muted and the Rupee
appreciation was halted by weak stock market. The US dollar hit a
17-month low against Yen while Euro inched lower against US dollar.
USDINR STRATEGY R1 66.72 R2 66.78
Pivot Point 66.74
S1 66.50 S2 66.34
EUROPEAN MARKET
European markets finished broadly lower yesterday with shares in
Germany leading the region. The DAX is down 2.71% while France's
CAC 40 is off 2.23% and London's FTSE 100 is lower by 1.21%.
ASIAN MARKET
Asian markets finished mixed as of the most recent closing prices.
The Shanghai Composite gained 1.45%, while the Nikkei 225 led
the Hang Seng lower. They fell 2.42% and 1.57% respectively.
