INDECISIVE

The benchmark indices opened on a very flat note, and touched their intraday lows within the first hour of trade, but from that point onwards the markets started recovering slowly and with just half an hour left for the end of the day’s session the markets entered the positive territory and rose almost vertically from that point and closed near the highest point of the day. The Nifty and the Sensex closed up by 41 and 131 points respectively. The market breadth also improved considerably and ultimately closed on a positive note, with 909 advances to 568 declines. On the sectoral front, the Banking sector was the biggest gainer, followed by the Midcap, IT, FMCG and Metals sector. On the individual stocks front, GAIL, Siemens, Hindalco, Ambuja Cement & IDFC were the top five Nifty gainers, while Tata Motors, HeroMotocorp, Cairn, Bharti Airtel & Jindal Steel were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 573 crores while DIIs were net sellers to the tune of 346 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures to the tune of 140 crores and net buyers in Index options to the tune of 214 crores and they were net buyers in both Stock futures and options to the tune of 393 and 257 crores respectively. Nifty April future settled at 5714, with 32 points premium to the spot, along with a considerable increase in open interest. On the Options side, PCR stood at 0.85,along with a fall in the India VIX by 3.67%. On the Call options side, the 5700 April call added the maximum open interest, followed by the 5800, 5500 & 5900 calls, while on the Put Options side, the 5600 put added the maximum open interest, followed by the 5500, 5700 & 5400 puts. The entire activity in the F&O space was mainly rollover based, but fewer positions were rolled over to the next series, indicating lack of conviction among the market participants.

On the technical side, Nifty has hovered around its 250 DEMA support for the last three sessions and the short pullback on Thursday was mainly a result of short covering on the F&O side, but the overall trend still remains downward but after retracing almost 50% from its January high, a short term pullback may happen, before it starts falling once again. The levels to watch out for Nifty, will be 5715, 5748 on the upside and 5626, 5570 on the downside. On the currency front, the Rupee pared its early losses, to close stronger against the dollar, in the trading session of the fiscal year, tracking a recovery in domestic shares and dollar sales by exporters. The partially convertible Rupee finally closed at 54.28, while the near month USD-INR future closed at 54.65 for the day.

On the International markets front the Asian markets have closed on a mixed note, while the European and the U.S. markets have closed on a mildly positive note. On the energy futures front, both the Brent and WTI club future, closed up by 0.30 & 0.67% at 110.02 & 97.23 $/bbl respectively, while the Natural Gas future closed down by 1.08% at 4.02 $/MMBtu.

EDGY

The markets opened on an extremely positive note, on the back of positive cues from the international markets and traded with a positive bias till the second half of the trading session, but with just one and half hour left for the end of the day’s trading session the markets started falling almost vertically and ultimately gave up all their gains and both the indices closed in the red. The Nifty and the Sensex closed down by 17 and 54 points respectively. The market breadth also turned negative 556 advances to 962 declines. On the sectoral front the Banking sector was the biggest loser followed by the FMCG and Auto sectors.  On the individual stocks front, DLF, ONGC, NTPC, BPCL & Power Grid were the top five Nifty gainers while Bank of Baroda, Hero Motocorp, IDFC, LT & Tata Steel were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 718 crores and DIIs were net sellers to the tune of 425 crores in the cash markets.

On the derivatives side, FIIs were net buyers in Index futures to the tune of 198 crores and net sellers in Index options to the tune of 136 crores, while they were net sellers in both Stock futures and options to the tune of 2 and 164 crores respectively. Nifty future settled at 5645 with just 11 points premium to the spot along with a marginal decrease in open interest. On the Options side, PCR stood at 0.98, along with a jump in the India VIX by 5.28%. On the Call options side, the 5700 call added the maximum open interest, followed by the 5600 and 5800 calls, while the 5900 call lost the maximum open interest, followed by the 6000 call. On the Put Options side, except the 5500 put there was uniform loss of open interest from the 5000 to 6200 puts. The entire activity in the Call as well as Put options side, suggest hectic rollover activity in the F&O space, just ahead of the expiry on Thursday.

On the technical side, Nifty came within a striking distance to its 250 days EMA, and there seems to be no indication that the slide will stop and it is well on its way to breaking the 5600 levels and make newer lows. The levels to watch out for Nifty will be 5693, 5752 on the upside and 5599, 5564 on the downside. On the Currency front, the Rupee strengthened today, encouraged by the government’s move to ease restrictions on foreign investments in debt markets, but the gains were pared on worries over political uncertainty. The partially convertible Rupee finally closed at 54.17, while the near month USD-INR future settled at 54.58 for the day.

On the international markets front, the Asian markets have closed on an extremely positive note, while the European markets have closed in red and the U.S. markets are also trading with losses as enthusiasm about Cyprus’s bailout faded. On the Energy futures front  the Brent crude oil is trading marginally in the negative, at 107.53 $/bbl, while the WTI crude oil future is trading up by 0.69% at 94.36 $/bbl and the Natural Gas future is trading almost flat at 3.95 $/MMBtu. 

SOMBRE

The markets opened on a very flat note, and traded rangebound for the entire trading session, except for half an hour, when the markets suddenly rose and touched their intraday highs towards the end of the session, but ultimately lost all their gains and both the benchmark indices closed on an absolutely flat note. The Nifty and the Sensex closed down by 7 & 57 points respectively. The market breadth continued to end on a very negative note with 459 advances to 1053 declines. On the sectoral front, the IT sector was the biggest loser, followed by the Banking and Pharma sectors. On the individual stocks front,  IDFC, Ambuja Cement, Bank of Baroda, Bajaj Auto & Jindal Steel were the top five Nifty gainers, while DLF, Ranbaxy, Tata Steel, State Bank of India, & Sun Pharma were the top five Nifty losers for the day. On the institutional side, both FIIs and DIIs were net sellers to the tune of mere 14 and 135 crores respectively in the cash market.  

On the derivatives side, FIIs were net sellers in both Index futures and options to the tune of 316 and 63 crores respectively, while they were net buyers in Stock futures to the tune of 150 crores and net sellers in stock options to the tune of 105 crores. Nifty future settled at 5668 with just 17 points premium to the spot, along with a considerable loss of open interest. On the Options side PCR stood at 0.9 along with a fall in the India VIX by 5.88%. On the Call options side, the 5700 call added the maximum open interest, followed by the 5600 & 5800 calls, while the 6100 call lost the maximum open interest, followed by the 6000 and 6200 calls. On the Put options side, the 5800 put lost the maximum open interest, followed by the 5700 & 5900 puts, while the 5600 put added the maximum open interest followed by the 5500 put. The entire activity in the F&O space indicates Call writing at the lower levels along with profit booking on the Put options side.

On the technical side, Nifty came very close to testing its 250 day support and still there seems to be no let up in the selling pressure, coupled with not so encouraging news flow from the international markets and political turmoil on the domestic front is making matters worst. The levels to watch out for Nifty will be 5684, 5717 on the upside and 5613, 5572 on the downside. On the currency front, the Rupee fell on Friday, tracking losses in local shares and weighed down by oil importers dollar demand. The partially convertible Rupee finally closed at 54.33 for the week , while the near month USD-INR future settled at 54.36 for the week.

On the international markets front, the Asian and the European markets have closed on a mixed note, while the U.S. markets have closed on a positive note. On the energy futures front, both the  Brent and WTI crude oil futures have closed up by 0.18 & 1.36% at 107.66 & 93.71$/bbl respectively, while the Natural gas future closed down by 0.20% at 3.93 $/MMBtu. 

CONFIRMATION

The benchmark indices opened on a flat note, and after a initial hiccup traded strongly in the green for the entire first half of the trading session, but just after completion of one hour of the second half of the trading session, the markets gradually started losing their gains and ultimately the both the indices closed at their lowest point of the day, till the end of the session. The Nifty and the Sensex closed down by 36 & 91 points respectively. The market breadth also ended on a very negative note with 406 advances to 1111 declines. On the sectoral front, the Energy sector was the biggest loser, followed by the FMCG, Energy, Midcap & Auto sectors. On the individual stocks front, Bharti Airtel, ICICI Bank, HDFC, Jindal Steel & Wipro were the top five Nifty gainers while JP Associate, Rel Infra, Bank of Baroda, Bajaj Auto & Tata Motors were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 368 crores, while DIIs were net sellers to the tune of mere 30 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures to the tune of 129 crores and net buyers in Index options to the tune of 38 crores, while they were net buyers in Stock futures to the tune of 525 crores and net sellers in stock options to the tune of 95 crores. Nifty future settled at 5664 with just 5 points premium to the spot, along with a considerable loss of open interest. On the Options side, the PCR stood at 0.94, along with a marginal fall in the India VIX by 0.90%. On the Call options side, the 5700 call added the maximum open interest, followed by the 5600 & 5800 calls, while the 6000 & 6100 calls lost the maximum open interest. On the Put options side, the 5800 put lost the maximum open interest, followed by the 5900, 5400 & 5500 puts. The entire activity in the F&O space, indicates call writing at various levels along with liquidation of positions in the  Index futures and Put Options.

On the technical side, once again Nifty closed below the 5700 mark and with downtrend finally setting in, it’s only a matter of time before the 5600 level is tested and with no immediate supports in this range, we will see new lows in the day’s to come. The levels to watch out for Nifty will be 5687, 5727 on the upside and 5613, 5577 on the downside. On the currency front, the Rupee rose for a second day today, largely helped by inflows related to a share sale and debt limit auction to foreigners. The partially convertible Rupee finally closed at 54.27, while the near month USD-INR future settled at 54.34 for the day.

On the international markets front, the Asian markets have closed on a mixed note, while the European markets have closed deep in the red, and the U.S. markets are also trading with losses as concern about Europe’s debt crisis overshadowed better than estimated American economic data. On the Energy futures front both the Brent and WTI crude oil futures are trading down by 1.08 & 0.95% at 107.55 & 92.64 $/bbl respectively, while the Natural Gas future is trading down by 1.0% at  3.92 $/MMBtu.

TREND CHANGE

Once again the markets opened on a flat note, and traded rangebound for the initial two hours of trade, but post that point the market breadth started worsening and the markets fell almost vertically and could not recover their losses till the end of the session. The Nifty and the Sensex closed down by 51 and 124 points respectively. The market breadth also closed on an extremely negative note with 271 advances to 1241 declines. On the sectoral front, once again the Banking sector was the biggest loser followed by the Midcap, Energy & Media sectors. On the individual stocks front,  Hind unilever, Asian Paint, Cipla, Tata Motors & Lupin were the top five Nifty gainers, while Rel Infra, Bharti Airtel, JP Associate, IDFC & DLF were the top five Nifty losers for the day. On the institutional side, both FIIs & DIIs were net sellers to the tune of 237 and 357 crores respectively in the cash market.

On the derivatives side, FIIs were net sellers in both Index futures and Options to the tune of 362 & 1613 crores respectively, while they were net sellers in Stock futures to the tune of just 34 crores and net buyers in stock options to the tune of mere 12 crores. Nifty future settled at 5715, with just 21 points premium to the spot, along with a considerable loss of open interest. On the Options side, PCR stood at 0.97, along with a marginal decrease in India VIX by 0.30%. On the Call options side, the 5700 call added the maximum open interest followed by the 5800 & 5600 calls, while on the Put options side the 5800 put lost the maximum open interest, followed by the 5900 & 5700 puts, while the 5600 put added the maximum open interest, followed by the 5400 put. The entire activity in the F&O space indicates profit booking in Index futures along with massive call writing and liquidation of longs on the Put options side.

On the technical side, once again Nifty has breached the crucial support of 5700, and the market data suggests that there is no let up in the selling pressure and it is only a matter of time before the 5600 level is tested. The levels to watch out for Nifty will be 5732, 5770 on the upside and 5669, 5651 on the downside. On the currency front, the Rupee recovered today mainly after worries over political instability eased and dollar sales by custodian banks and state run companies. The partially convertible Rupee finally closed at 54.36, while the near month USD-INR future settled at 54.44 for the day.

On the international markets front, the Asian markets have closed on a strong note, while the European markets have closed on a mixed note and the U.S. markets have risen as Euro area leaders weigh options  for Cyprus and investors await Federal Reserve’s monetary policy decision. On the Energy futures front, both the Brent and WTI crude oil futures are trading up by 0.79 & 0.66% at 108.30 & 93.13 $/bbl on the back of unexpected fall in weekly U.S. crude oil inventories, while the Natural Gas future is trading down by 0.43% at 3.9 $/MMBtu.

SHOCKED

The markets opened on a flat note and traded rangebound for the initial two hours of trade, till the credit policy was announced, which was not taken lightly by the market and the markets reacted by falling a bit, but before the markets could understand the full impact of the credit policy statement, the news about political turmoil, hit the markets and the markets fell almost vertically and could not recover from that point and traded near their day’s low, till the end of the session and ultimately both the indices closed very near to their lowest point of the day. The Nifty and the Sensex closed down by 89 and 285 points respectively. The market breadth also ended on a grim note with 336 advances to 1173 declines. On the sectoral front, there was across the sector selling, but still the Banking sector was the biggest loser, followed by the Midcap, Energy, Infra & Auto sectors. On the individual stocks front, GAIL, Ranbaxy, Bajaj Auto, Lupin & Sun Pharma were the top five Nifty gainers, while BHEL, Bharti Airtel, Sesa Goa,  DLF & Rel Infra were the top five Nifty losers for the day. On the institutional side, there was very little participation with FIIs and DIIs turning net buyers to the tune of mere 62 and 71 crores in the cash market.

On the derivatives side, FIIs were net sellers in both Index futures and options to the tune of 805 and 533 crores and they were also net sellers in both Stock futures and options to the tune of mere 27 & 11 crores respectively. Nifty future settled at 5752, with just 6 points premium to the spot, along with a considerable increase in open interest. On the options side PCR stood at 1.21, along with a increase in the India VIX by 5.43%. On the Call options side, the 5800 call added the maximum open interest, followed by the 5900, 6000 & 5700 calls, while on the Put options side, the 5700 put lost the maximum open interest, followed by the 5800,5900 & 5600 puts. The entire activity in the F&O space saw short buildup on the Index futures side along with massive call writing at higher levels, while profit booking happened on the Put options side.

On the technical side, Nifty clearly broke out of the trading range, formed over the last eight sessions and the underlying market breadth suggests that the market weakness will continue for few more sessions. The levels to watch out for Nifty will be 5830, 5869 on the upside and 5691, 5675 & 5638 on the downside. On the currency front the Rupee bounced off from a nearly three week low touched earlier today after a disappointing credit bank policy statement and as a key ally withdrew support from the ruling coalition. The partially convertible Rupee finally closed at 54.37, while the near month USD-INR future settled at 54.47 for the day.

On the international markets front, the Asian markets have closed on a mixed note, while the European markets have closed deep in the red and the U.S. markets are also trading with losses as investors weigh growth in new home construdtion against concerns that  Europe’s debt crisis may intensify. On the Energy futures front, both the Brent and WTI crude oil futures are trading down by 1.85 & 1.47% at 107.48 & 92.73 $/bbl respectively, while the Natural gas future is trading up by 1.79% at 3.95 $/MMBtu.

NERVOUS

Once again the benchmark indices opened with a gap down, tracking their Asian peers and traded with a negative bias throughout the day and ultimately closed very near to their lowest point of the day. The Nifty and the Sensex closed down by 37 and 134 points respectively. The market breadth improved a little bit towards the end of the session, but still closed on an extremely negative note with 503 advances to 985 declines. On the sectoral front, the Banking sector was the biggest loser for the day, followed by the Energy, Auto & Metal sectors, while the FMCG sector was the biggest gainer for the day. On the individual stocks front, Cipla, Siemens, Cairn, HCL Tech & Hind Unilever were the top five Nifty gainers, while Coal India, IDFC, Tata Power, Ambuja Cement & Maruti were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 503 crores, while DIIs were net losers to the tune of 460 crores in the cash market.

On the derivatives side, FIIs were net sellers in both Index futures and Options to the tune of 699 and 49 crores respectively, while they were also net sellers in Stock futures and options to the tune of 21 and 25 crores respectively. Nifty future settled at 5851, with just 16 points premium to the spot, along with a marginal increase in open interest. On the options side, PCR stood at 1.21, along with an increase in India VIX by 4.55%. On the Call options side, the 6000 call added the maximum open interest, followed by the 5800 & 5900 calls, while on the Put options side; the 5600 put added the maximum open interest, followed by the 5500 & 5800 puts, while the 5900 put lost the maximum open interest followed by the 6000 put. The entire activity in the F&O space once again indicates shorting at higher levels on the Call options side along with addition of longs on the put options side.

On the technical side, Nifty closed with a gap down in a knee jerk reaction to the global risk sell off, while on the domestic front market participants were a bit anxious just ahead of the monetary policy review tomorrow. The levels to watch out for Nifty will be 5852, 5863 on the upside and 5816, 5797, 5780 on the downside. On the currency front, the Rupee fell against the dollar, tracking a fall in the global currencies after a bailout plan for Cyprus that involved taking bank deposits sent shockwaves across the financial markets. The partially convertible Rupee finally closed at 54.16, while the near month USD-INR future settled at 54.30 for the day.

On the international markets front, the Asian and the European markets have closed with deep losses and the U.S. markets are also trading with losses as a levy imposed by the Euro area leaders on Cypriot banks sparked concern the region’s debt crisis is intensifying. On the Energy futures front, the Brent crude oil future is trading down by 0.51% at 109.30 $/bbl, while the WTI crude oil future us trading up by 0.10% at 93.54 $/bbl and the Natural Gas future is trading up by close to a percent 1.07% at 3.91 $/MMBtu.

ANTICIPATION

The benchmark indices opened on an absolutely flat note, but after the initial one hour of trade the market breadth collapsed suddenly and from that point onwards there was no looking back and the market breadth worsened with every passing hour and ultimately the markets closed at their lowest point of the day. The Nifty and the Sensex closed down by 36 and 142 points respectively. The market breadth was also ended on an extremely negative note with 506 advances to 1003 declines. On the sectoral front, the Banking sector was the biggest loser followed by the Energy, Auto and Midcap sectors. On the individual stocks front, Siemens, Asian Paint, Lupin, M&M, and Ranbaxy were the top five Nifty gainers while DLF, ICICI Bank, Tata Motors, JP Associate and Gail were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 1018 crores while DIIs were net sellers to the tune of 584 crores in the cash market.

On the derivatives side, FIIs were net buyers in both Index futures and Options to the tune of 298 and 1427 crores respectively, while they were net sellers in both Stock futures and Options to the tune of 535 and 42 crores respectively. Nifty future settled at 5897, with 25 points premium to the spot, along with a marginal decrease in open interest. On the Options side, PCR stood at 1.09, along with an increase in the India VIX by 3.41%. On the Call options side, the 6000 call added the maximum open interest, followed by the 5900 & 6200 calls, while on the Put Options side, the 5800 put lost the maximum open interest, followed by the 6000, 5900, 5600 & 5500 puts, while the 5400 put added the maximum open interest. The entire activity in the F&O space indicates liquidation of positions just ahead of the major event – the RBI quarterly monetary policy, along with some opportunistic call writing took place at higher levels of the markets.

On the technical side, Nifty has managed to consolidate in the 70 points ranges for the last one week, after the recent end February correction and seems to be forming a higher base at these levels. The guiding factors in the next week will be the RBI monetary policy review, & Advance tax numbers. The levels to watch out for Nifty will be 5924, 5972 on the upside and 5840, 5822 on the downside. On the currency front the Rupee rose to a two-week high on Friday, notching up a second consecutive week of gains helped by inflows tied to a domestic share sale and by a weaker dollar after strong U.S. data raised chances of an early retreat from monetary easing. The partially convertible Rupee finally closed at 54.02, while the near month USD-INR future settled at 54.19 for the week.

On the international markets front, the Asian markets have closed on a strong note, while the European and the U.S. markets have closed on a relatively weaker note. On the energy futures front, both the Brent and WTI crude oil futures have closed up by 0.79 & 0.45% at 109.82 & 93.45 $/bbl respectively and the Natural Gas future has closed up by 1.57% at 3.87 $/MMBtu. 

DESCENT

The markets opened with a gap down and traded with an extremely negative bias throughout the entire trading session, but with just one and a half hour left for the end of the day’s session the markets started falling with greater intensity and ultimately both the indices closed at their lowest point of the day. The Nifty and the Sensex closed down by 63 and 202 points respectively. The market breadth was also extremely negative with 395 advances to 1108 declines. On the sectoral front, the Banking sector was the biggest loser followed by the IT, Midcap & Auto sectors, while the FMCG sector was the sole and biggest gainer for the day. On the individual stocks front, Sun Pharma, ITC, Bharti Airtel, Asian Paint & HCL Tech were the top five Nifty gainers while Hindalco, ICICI Bank, Jindal Steel, Bajaj Auto & Maruti were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 304 crores and DIIs were net sellers to the tune of 434 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures to the tune of 223 crores and net buyers in Index options to the tune of just 7 crores, while they were net buyers in both Stock futures and options to the tune of mere 42 and 2 crores respectively. Nifty future settled at 5867 with just 16 points premium to the spot, along with a considerable loss of open interest. On the Options side PCR stood at 1.37, along with a massive jump in the India VIX by 7.07%. On the Call options side, the 5900 call added the maximum open interest, followed by the 5800 & 6000 calls. On the Put options side the 5600 put added the maximum open interest, followed by the 5700 & 5500 puts, while the 5800 put lost the maximum open interest, followed by the 5900 & 6000 puts. The entire activity in the cash market indicates across the sector selling, while in the F&O space massive call writing happened at higher levels, accompanied by long positions on the Put options side.

On the technical side, once again the markets resumed their downward journey, and Nifty closed at its crucial support of 5851, but the intensity of fall took everyone by surprise and the F&O data suggests that it is just the start of the downslide and the levels to watch out for Nifty will be 5882 and 5913 on the upside and 5831 and 5815 on the downside. On the currency front the Rupee fell today as caution ahead of inflation data hit domestic shares while state run banks were spotted buying dollars. The partially convertible Rupee closed at 54.30, while the near month USD-INR future settled at 54.49 for the day.

On the international markets front, the Asian markets have closed deep in the red while the European markets have also closed on a mixed note and the U.S. stocks are little changed after a report showed retail sales increased in February. On the Energy futures front, the Brent crude oil future is trading down by 1.01% at 108.11 $/bbl, while the WTI crude oil future is trading almost flat at 92.59 $/bbl and the Natural gas future is trading up by 1.11% at 3.68 $/MMBtu.

TREND REVERSAL ?

The markets opened on a positive note and traded rangebound for the entire first half of the trading session, but just at the start of the second half of the trading session, the markets started gaining but the pace of rise took everyone by surprise and ultimately both the indices closed near their highest point of the day.  The Nifty and the Sensex closed up by 82 and 269 points respectively. The market breadth also closed on a positive note, with 980 advances to 529 declines. On the sectoral front, the FMCG sector was the biggest gainer followed by the Banking, Energy & Midcap sectors. On the individual stock front, Jindal Steel, IDFC, HDFC, BPCL & Kotak Bank were the top five Nifty gainers, while Ambuja Cement, Maruti, Infosys, Wipro & Tata Motors were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 1283 crores and DIIs were net sellers to the tune of 836 crores in the cash markets.

On the derivatives side, the FIIs were net buyers in Index futures and options to the tune of 569 and 162 crores respectively, while they were net buyers in Stock futures to the tune of 495 crores and net sellers in stock options to the tune of 168 crores. Nifty future settled at 5968, with 22 points premium to the spot, along with a marginal decrease in open interest. On the Options side, PCR stood at 1.10, along with a 2.07% increase in India VIX. On the Call options side, the 5800 call lost the maximum open interest, followed by the 6000 & 5700 calls, while the 6200 call added the maximum open interest.  On the Put option side, the 5900 put added the maximum open interest, followed by the 6000 & 5800 puts. The entire activity in cash market saw sector specific buying, while in the F&O major short covering happened on the call options side, along with massive put writing.

On the technical side, Nifty managed to close convincingly above the 5900 mark mainly on the back of strong FII inflows and strong international markets, ultimately leading to a short term trend reversal, which may lead to some more upmove from these levels. The levels to watch out for Nifty will be 5971, 5987 on the upside and 5901, 5877 on the downside. On the currency front, the Rupee rose for the third consecutive session to its highest level in more than a week, helped by dollar sales by custodian banks and gains in Euro. The partially convertible Rupee finally closed at 54.28, while the near month USD-INR future settled at 54.54 for the week.

On the international markets front the upward momentum created over the last three sessions continued and the Asian, European and U.S. markets have all closed on a very strong note for the week. On the Energy futures front, the Brent and WTI crude oil futures closed almost flat at 110.85 & 91.95 $/bbl for the week, while the Natural Gas future closed up by 1.31% at 3.63 $/MMBtu. 

SURPRISE

The markets opened on a negative note and traded with a negative bias till the second half of the trading session, and with just two hours left for the end of the day’s session the markets made an almost vertical ascent and ultimately both the indices closed very near to their highest point of the day.  The Nifty and the Sensex closed up by 45 and 161 points respectively. The market breadth also ended on a positive note with 810 advances to 669 declines. On the sectoral front, the FMCG sector was the biggest gainer followed by the IT, Banking and Midcap sectors. On the individual stocks front, Hero Motocorp, DLF, Asian Paint, JP Associate & Larsen Toubro were the top five Nifty gainers while Jindal Steel, Hind Unilever, Coal India, Tata Motors and Ultratech Cement were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 630 crores while DIIs were net sellers to the tune of 715crores in the cash market.

On the derivatives side, FIIs were net buyers in both Index futures and Options to the tune of 409 and 315 crores respectively, and they were also net buyers in Stock futures and options to the tune of 204 and 74 crores respectively. Nifty future settled at 5889 with 26 points premium to the spot, along with a marginal increase in open interest. On the Options side PCR stood at 0.97 along with a 2.26% fall in the India VIX. On the Call options side, the 5900 call lost the maximum open interest, followed by the 5700 & 5800 calls, while the 6100 call added the maximum open interest, followed by the 6000 call. On the Put Options side, the 5800 put added the maximum open interest, followed by the 5900 & 5600 puts. The entire activity in the cash market was sector specific while in the F&O space there was mostly short covering which lead to the swift rise in the markets towards the end of the day’s session.

On the technical side, Nifty managed to close above yet another crucial level of 5850 on increasing volumes, but incidentally this sharp upmove has once again happened on the back of major short covering and as suggested yesterday the positive momentum in the international markets may sustain this upmove and may lead to further short covering. The levels to watch out for Nifty will be 5893, 5924 on the upside and 5823, 5770 on the downside. On the currency front, the Rupee strengthened for a second day, hitting a near one week high, as dollar selling by foreign banks and late recovery in the domestic share market boosted sentiment. The partially convertible Rupee finally closed at 54.56, while the near month USD-INR future settled at 54.80 for the day.

On the international markets front, the Asian markets have closed on a mixed note, while the European markets have closed on a positive note and the U.S. markets have risen on the back of an unexpected fall in the jobless claims, showing further improvement in the labor market. On the Energy futures front, the Brent Crude oil future is trading marginally down by 0.19% at 110.84 $/bbl, while the WTI crude oil future is trading up by 0.81 % at 91.16 $/bbl and the Natural Gas future is trading up by 3.44% at 3.59 $/MMBtu after data showed more than expected fall in weekly Natural Gas inventories.

ASCENT

The markets opened on a positive note, and after trading rangebound for the initial one hour of trade the markets started gaining strength, and with every passing hour the markets strengthened and ultimately both the benchmark indices managed to close on a very strong note, very near to their day’s high. The market breadth was also very positive with 1034 advances to 468 declines. On the sectoral front, the Banking sector was the biggest gainer, followed by the Midcap, Energy and Metal sectors. On the individual stocks front, JP Associate, IDFC, DLF, Sesa Goa & Hindalco were the top five Nifty gainers, while M&M, Hind Unilever, ITC, Ambuja Cement & BPCL were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 524 crores and DIIs were net sellers to the tune of 600 crores in the cash market.

On the derivatives side, FIIs were net buyers in Index futures and Options to the tune of 191 and 912 crores respectively, while they were net buyers in Stock futures to the tune of 607 crores and net sellers in stock options to the tune of 63 crores. Nifty future settled at 5841, with 23 points premium to the spot, along with a marginal increase in open interest. On the Options side, PCR stood at 1.07, along with a marginal increase in India VIX by 0.07%. On the Call options side, the 5900 call lost the maximum open interest, followed by the 5700, 5600 & 6000 calls, while the 6100 call added the maximum open interest. On the Put options side, the 5800 put added the maximum open interest, followed by the 5700,5500 & 5900 puts. The entire activity in the cash market was stock specific while in the F&O short covering continued for the second consecutive session.

On the technical side, Nifty managed to close above the 5800 level, on increasing volumes and it seems that the positive newsflow from the international markets may help to sustain the momentum for few more sessions. The levels to watch out for Nifty will be 5832, 5852, 5865 on the upside and 5799, 5780 on the downside. On the currency front, the Rupee strengthened today as global risk rally boosted Asian currencies and shares but persistent dollar demand from oil firms prevented sharper gains. The partially convertible Rupee finally closed at 54.71 while the near month USD-INR future settled at 54.99 for the day.

On the international markets front, the Asian markets have closed on a very strong note, while the European markets have closed on a mixed note and the U.S. stocks are little changed after Dow Jones Industrial average touched a record high yesterday amid  a private jobs report that showed companies took more workers than estimated in February. On the energy futures front, both the Brent and WTI crude oil futures are trading down by 0.77 & 0.94% at 110.75 & 89.94 $/bbl respectively and the Natural Gas future is also trading down by 1.35% at 3.48 $/MMBtu.

PULLBACK

The markets opened on a flat note and continued to trade rangebound for the initial two hours of trading session, but post that point the markets started gaining strength and continued to touch new highs with every passing hour and ultimately both the benchmark indices managed to close near their day’s high. The Nifty and the Sensex closed up by 86 and 165 points respectively.  The market breadth was also positive with 999 advances to 504 declines. On the sectoral front, the Banking sector was the biggest gainer followed by the Midcap, FMCG, Energy & IT sectors. On the Individual stocks front, Sesa Goa , Hindalco, HCL Tech, Ambuja cement & Tata Motors were the top five Nifty gainers, while Baja Auto, Bhel, HDFC & Sun Pharma were the top four Nifty losers for the day. On the Institutional side, FIIs were net buyers to the tune of 221 crores, while DIIs were net sellers to the tune of 244 crores in the  cash market.

On the derivatives side, FIIs were net buyers in both Index Futures and Options to the tune of 175 and 809 crores respectively and they were also net buyers in Stock futures and Options to the tune of 655 and 55 crores respectively. Nifty future settled at 5803, with 19 points premium to the spot, along with a marginal decrease in open interest. On the Options side, PCR stood at 0.96, along with a 2.05% decrease in India VIX. On the Call options side, the 5700 call lost the maximum open interest followed by the 5600 & 5500 calls, while the 6100 call added the maximum open interest, followed by the 6000 & 5900 calls. On the Put options side, the 5700 put added the maximum open interest, followed by the 5800, 5600 & 5500 puts, while the 5300 put lost the maximum open interest, followed by the 6000 & 5900 puts. The entire activity in the cash market saw across the sector buying, while in the F&O space it was a mix of short covering and addition of more shorts at the higher levels of the market. 

On the technical side, once again Nifty managed to close above the crucial mark of 5700, aided mainly by short covering due to positive sentiments in the global markets. The levels to watch out for Nifty will be 5808, 5833 on the upside and 5740, 5697 on the downside. On the currency front the Rupee ended lower today, driven by a late fall in Euro, with concerns over the country’s current account deficit expected to remain a major drag for the currency. The partially convertible Rupee finally closed at 54.92 while the near month USD-INR future settled at 55.15 for the day.

On the international markets front, the Asian and European markets have closed on an extremely positive note and the U.S markets are also trading on a strong note. On the Energy futures front, both the Brent and WTI crude oil futures are trading almost flat with a positive bias at 110.61 & 90.19 $/bbl respectively while the Natural Gas future is trading up by 0.85% at 3.55 $/MMBtu.

LISTLESS

The markets opened on an absolutely flat note and immediately touched their intraday lows , within the first two minutes of trade, but from this point onwards the markets started recovering and started gaining strength but traded rangebound for the entire trading session and ultimately both the indices managed to close almost flat. The Nifty and the Sensex closed up by 27 and 57 points respectively. The market breadth however closed on a negative note with 687 advances to 819 declines. On the sectoral front, the Midcap sector was the biggest gainer followed by the Auto & Banking sectors. On the individual stocks front, Maruti, JP Associate, BPCL, Power grid & Reliance Infra were the top five Nifty gainers, while DLF, Bharti Airtel, IDFC, Siemens & Cairn were the top five Nifty losers for the day. On the institutional side FIIs were net buyers to the tune of 627 crores, while DIIs were net sellers to the tune of mere 46 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures to the tune of 263 crores and net buyers in Index Options to the tune of 493 crores, while they were net buyers in both Stock futures and Options to the tune of 570 and 244 crores respectively. Nifty future settled at 5729, with premium falling form 28 points to just 9 points to the spot along with a considerable increase in open interest. On the Options side PCR stood at 0.81, along with a fall in the India VIX by 5.38%. On the Call Options side, the 5700 call added the maximum open interest, followed by the 5900, 6000 & 6200 calls, while on the Put options side, 5600 put added the maximum open interest, followed by the 5300, 5700 & 5400 puts, on the other hand 5800 put lost the maximum open interest, followed by the 6100 & 6000 puts. The entire activity in the cash market was sector specific, while in the F&O space the market participants continued to add on to their short positions in the absence of any fresh triggers.

On the technical side, Nifty managed to close marginally above the 5700 mark, with slight increase in volumes, and not much is to be read into Friday’s close as Nifty rose marginally today due to some clarifications from the Finance ministry as well as market participants booking some profit ahead of the weekend. The levels to watch out for Nifty will be 5745, 5772 on the upside and 5685, 5652 on the downside. On the currency front, the Rupee dropped for a second session, hitting its lowest level in over a month and  half as stop losses were triggered in the dollar after rumours of a possible downgrade by Fitch ratings. The Rupee finally closed at 54.90, while the near month USD-INR future  settled at 55.24 for the day.

On the international markets front, the Asian and the European markets have closed on a mixed note, while theU.S. markets have closed on a mildly positive note. On the Energy futures front, both the Brent and WTI crude oil futures have closed on down by 0.88 & 1.49% at 110.4 & 90.68 $/bbl respectively, while the Natural gas future closed down by 0.86% at 3.46 $/MMBtu.