PAUSE

The markets opened on a subdued note, but the market breadth worsened as the session progressed and ultimately both the indices closed near their lowest point of the day. The markets fell on Friday, led by declines in lenders, after recent steep gains on rate cut hopes were seen as overdone ahead of the central bank’s annual policy review next week. The Nifty and the Sensex closed down by 45 and 120 points respectively. The market breadth also closed on a negative note with 529 advances to 840 declines. On the sectoral front, the Banking sector was the biggest loser, followed by the Energy, FMCG, IT & Pharma sectors. On the individual e stocks front, Maruti, Bharti Airtel, Bajaj Auto, GAIL & Larsen toubro were the top five Nifty gainers, while HCL Tech, Jindal Steel, Reliance Industries, JP Associate and Hind Unilever were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 225 crores while DIIs were net sellers to the tune of 378 cores in the cash market.

On the derivatives side, FIIs were net buyers in both Index futures and Options to the tune of 290 and 16 crores respectively, while they were net sellers in both Stock futures and options to the tune of 479 and 46 crores respectively. Nifty future settled at 5887, with 16 points premium to the spot, along with a moderate increase in open interest. On the Options side, PCR stood at 1.15, along with a fall in the India VIX by 2.25%. On the Call options side, the 6100 call added the maximum open interest, followed by the 6000, 6200 & 5900 calls, while on the Put options side, the 5400 put added the maximum open interest, followed by the 5900, 5700 & 5800 puts. The entire activity in the F&O space indicates profit booking along with moderate increase in long positions.

On the technical side, although it was a subdued session, but Nifty still managed to close in the breakout zone, raising hope that all is not lost within a day and we may see further upside, in the coming week. The levels to watch out for Nifty, will be 5898, 5926 on the upside and 5851, 5832, 5816 on the downside. On the currency front the Rupee fell on Friday, dragged down by month end dollar demand from importers and weak equities. The partially convertible Rupee finally closed at 54.37, while the near month USD-INR future settled at 54.56 for the week.

On the international markets front the Asian markets closed on a mixed note, while the European markets closed in the red ad the U.S. markets fell after the world’s largest economy grew less than economists forecast amid disappointing earnings reports. On the Energy futures front the Brent crude oil future closed at 103.16 $/bbl, while the WTI crude oil future closed unchanged at 93 $/bbl and the Natural gas future closed up by 0.55% at 4.22 $/MMBtu.

BREAKOUT

The markets opened on a relatively positive note today, and maintained their extremely positive momentum throughout the entire trading session and ultimately both the indices managed to close at their highest level in more than a month, as expectations of a rate cut at the RBI‘s upcoming annual monetary policy review continued to keep sentiment bullish. The Nifty and the Sensex closed up by 79 and 227 points respectively. The market breadth was however evenly poised with 743 advances to 650 declines. On the sectoral front, the Banking sector was the biggest gainer, followed by the Pharma, Energy, FMCG and Midcap sectors, while the It sector was the biggest loser for the day. On the individual stocks front, Dr. Reddy, GAIL, Tata Motors, NTPC & Axis Bank were the top five Nifty gainers, while TCS, DLF, HCL Tech, Infosys & JP Associate were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 145o crores and DIIs were net sellers to the tune of 1269 crores in the cash market.

On the derivatives side, FIIs were net buyers in Index futures to the tune of a massive 3716 crores and net sellers in index Options to the tune of 187 crores and they were also net sellers in Stock futures to the tune of 134 crores and net buyers in Stock options to the tune of 277 crores. Nifty May future settled at 5922, with just 6 points premium to the spot, along with a massive addition of open interest. On the Options side PCR stood at 1.21, along with a fall in the India VIX by 5.77%. On the Call options side, the 6100 call added the maximum open interest, followed by the 6200, 6000 & 5700 calls, while on the Put options side, the 5800 put added the maximum open interest, followed by the 5900 & 5700 puts. The entire activity in the F&O space, suggests  massive addition of long positions on the Index futures and options side.

On the technical side, after breaking out of the downtrend channel, day before yesterday, Nifty has clearly managed to sustain the breakout and seems to moving towards, the coveted 6000 mark. The levels to watch out for Nifty, will be 5943, 5968 & 6013 on the upside and 5871, 5831 and 5800 levels on the downside. On the currency front, the Rupee rose today, snapping two sessions of losses on hopes of renewed foreign fund inflows on the back of buoyant stock market, which gained for a fourth straight session. The partially convertible Rupee finally closed at 54.21, while the near month USD-INR  future settled at 54.25 for the day.

On the international markets front, the Asian and the European closed on a fairly positive note, while the U.S. stocks have risen as earnings topped estimates and jobless claims fell. On the Energy futures front, both the Brent and WTI crude oil futures are trading up by 1.13 & 1.68% at 102.86 & 92.97 $/bbl respectively, and the Natural Gas future is also trading up by0.82% at 4.237 $/MMBtu.

CONSOLIDATION

The markets opened on a very flat note, and continued to trade with a 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 rising almost vertically and ultimately both the indices managed to close in the green. The Nifty and the Sensex closed up by 2 and 9 points respectively. The market breadth however closed on a evenly balanced note with 678 advances to 701 declines. On the sectoral front, the Banking sector was the biggest loser followed by the Midcap sector, while the Energy sector was the biggest gainer, followed by the  IT sector. On the individual stocks front, Hero Motocorp, Sun Pharma, Bajaj Auto, Kotak Bank & JP Associate were the top five Nifty gainers, while Jindal Steel, Larsen Toubro, IDFC, State Bank of India & DLF were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 226 crores and DIIs were net sellers to the tune of 528 crores in the cash market.

On the derivatives side, FIIs were net buyers in Index futures and Options to the tune of 931 and 152 crores respectively, while they were net sellers in Stock futures to the tune of 561 crores and net buyers in Stock options to the tune of mere 24 crores. Nifty future settled at 5843, with just 6 points premium to the spot, along with a massive loss of open interest. On the Options side, PCR stood at 1.31, along with a massive fall in the India VIX by 7.09%. On the Call options side, except the 5900 & 6000 calls, there was uniform loss of open interest from the 5000 to 5800 calls, while on the Put options side, except the 5700, 5800 & 5900 puts there was uniform loss of open interest from the 5000 to 6000 puts. In the May Call options side, the 5900 call has added the maximum open interest, followed by the 5800 & 6000 calls, while on the May Put options side, 5500 put has added the maximum open interest, followed by the 5400, 5700 & 5600 puts. The entire activity in the F&O space indicates hectic rollover activity just ahead of the expiry.

On the technical side, Nifty clearly consolidated after breaking the downtrend channel and the will be looking forward for further triggers for the next upmove from this level. The levels to watch out for Nifty, will be 5856, 5877 & 5909 on the upside and 5803, 5766 on the downside. On the currency front, the Rupee fell for the second consecutive day on Tuesday, to its lowest level in a week as importers continued to buy dollars and weak euro posed headwinds for the currency. The partially convertible Rupee finally closed at 54.38, while the near month USD-INR future settled at 54.37 for the day.

On the international markets front, the Asian & European markets have closed on an extremely positive note today, while the U.S. markets are little changed as investors watch corporate earnings. On the Energy futures front, both the Brent and WTI crude oil futures are trading up by 1.47 & 2.18% at 101.78 & 91.12 $/bbl respectively after a data showed less than expected rise in U.S. weekly crude oil inventories, and the Natural gas future is trading down by 1.58% at 4.210 $/MMBtu, even after a more than expected fall in the weekly U.S. natural gas inventories.

TREND CHANGE

The markets opened on an extremely positive note, tracking their Asian peers and carrying forward the positive momentum built up over the last three sessions. The markets gained strength with every passing hour and ultimately closed near their highest point of the day. The Nifty and the Sensex closed up by 51 and 153 points respectively. The market breadth was also positive, with 871 advances to 513 declines. On the sectoral front, the Banking sector was the biggest gainer, followed by the Midcap, FMCG & Infra sectors, while the IT sector was the biggest loser for the day. On the individual stocks front, Reliance Infra, Coal India, Larsen Toubro, HDFC Bank & IndusInd Bank were the top five Nifty gainers, while Ultratech Cement, Infosys, HCL Tech, TCS & ONGC were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 916 crores and DIIs were net sellers to the tune of 443 crores in the cash market.

On the derivatives side, FIIs were net buyers in both Index futures and Options to the tune 1218 and 422 crores respectively, while they were net sellers in Stock futures to the tune of 454 crores and net buyers in Stock options to the tune of 87 cores. Nifty future settled at 5833, with 1 point discount to the spot along with a massive loss of open interest. On the Options side, PCR stood at 1.26, along with a increase in the India VIX by 5.59%. On the Call options side, there was uniform loss of open interest from the 5000 to 5800 call, while the 5900 call added the maximum open interest, followed by the 6000 call. On the Put options side, there was uniform loss of open interest from the 5000 to 5700 puts, while the 5800 put added the maximum open interest, followed by the 5900 & 6000 puts. The entire activity in the F&O space, indicates rollover activity, just ahead of the future’s expiry this week.

On the technical side, Nifty has managed a dramatic pullback, over the last four consecutive sessions and has managed to erase almost the entire losses, it had sustained over the last two weeks. There seems to be no stopping as it has managed to breach the almost three months old downtrend channel. The levels to watch out for Nifty, will be 5855, 5877, 5910 on the upside and 5786, 5761 on the downside. On the currency front the Rupee, fell today, as Gold and Oil importers brought dollars to meet payment obligations. The partially convertible Rupee finally closed at 54.14, while the near month USD-INR future settled at 54.11 for the day.

On the International markets front, the Asian markets have closed on a strongly positive note, and the European markets have closed on a mixed note and the U.S. stock markets are fluctuating between gains and losses as the investors weigh corporate earnings amid a drop in sales of existing U.S. homes. On the Energy futures front, both the Brent and WTI crude oil futures are trading up by 0.39 & 0.58% at 100.03 & 88.77 $/bbl respectively, while the Natural Gas future is trading down by 2.76% at 4.31 $/MMBtu.

OPTIMISM

The markets opened on a very modest note, but just fifteen minutes into the first half of the trading session, the markets made a almost vertical jump and from that point onwards there was no looking back, propelling the markets the most in nearly seven months, led by the rate sensitives like autos and banks on the back of optimism that the RBI will cut rates next month on a continued slump in global commodity prices. The Nifty and the Sensex closed up by 120 & 387 points respectively. The market breadth was also positive with 844 advances to 520 declines. On the sectoral front, the Banking sector was the biggest gainer, followed by the FMCG, Energy, Midcap & Auto sectors. On the individual stocks front, Axis Bank, IDFC, Maruti, ONGC and M&M were the top five Nifty gainers, while Infosys, Cairn, HCL Tech & Sesa Goa were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 592 crores and DIIs were net sellers to the tune of 205 crores in the cash market.

On the derivatives side, FIIs were net buyers in both Index futures and Options to the tune of 1265 & 392 crores respectively, while they were net buyers in Stock futures to the tune of 370 crores and net sellers in Stock options to the tune of 79 crores. Nifty future settled at 5696, with just 7 points premium to the spot, along with a considerable decrease in open interest. On the Options side PCR stood at 1.09, along with a decrease in the India VIX by 2.17%. On the Call options side, the 5500 Call lost the maximum open interest, followed by the 5600 & 5700 calls, while the 5900 call added the maximum open interest, followed by the 6000 call. On the Put options side, the 5600 put added the maximum open interest, followed by the 5700 put, while the 5200 put lost the maximum open interest, followed by the 5300 put. The entire activity in the F&O space indicates, profit booking in the Index futures as well as the Call and put options side.

On the technical side, Nifty made a sharp pullback from the lows and crossed the key resistance levels finally closing comfortably above the key support levels and this sudden pullback seems to have changed the immediate downtrend for sometime and may lead to some further pullback, but all of it depends on the newsflow in the days to come. If the corporate results are better than expected, this pullback may find more support in the day’s to come. The levels to watch out for Nifty will be 5739, 5760 on the upside and 5615, 5595 on the downside. On the currency front, the Rupee rose to its highest level in three weeks as a broad selloff in global commodities raised hopes that the pressure on the country’s current account deficit will ease and give the central bank more room to cut rates. The partially convertible Rupee, finally closed at 54.15, while the near month USD-INR future settled at 54.25 for the day.

On the international markets front, the Asian and the European markets have closed in the red, while the U.S. markets have risen on the back of better than estimated housing starts and corporate data. On the Energy futures front, both the Brent and WTI crude oil futures are trading down by 0.98 & 0.30% at 99.64 and 88.76 $/bbl respectively, while the Natural gas future is trading down by 0.40% at  4.19 $/MMBtu.

DECEPTION

The markets opened on a weak note, tracking their Asian peers, and traded rangebound for the initial two hours of trade, but as the news of better than expected inflation figures hit the markets, coupled with low crude and gold prices led to hopes that the Reserve Bank of India will likely cut rates in it May review, the markets started recovering and gained strength with every passing hour and ultimately both the indices bucked the international trend and closed on positive note. The Nifty and the Sensex closed up by 40 & 115 points respectively. The market breadth was however marginally positive with 720 advances to 611 declines. On the sectoral front, the FMCG sector was the biggest gainer, followed by the Energy and the Banking sector. On the individual stocks front, BPCL, Bank of Baroda, ONGC, Ultratech Cement & State Bank of India were the top five Nifty gainers, while Sesa Goa, Dr. Reddy, TCS, Tata Motors & DLF were the top five Nifty losers for the day. On the institutional side FIIs were net sellers to the tune of 418 crores, while the DIIs were net buyers to the tune of 297 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures and Options to the tune of 110 and 67 crores respectively, while they were net buyers in Stock futures to the tune of 343 crores and net sellers in stock options to the tune of 58 crores. Nifty future settled at 5568, along with a considerable increase in open interest. On the Options side, PCR stood at 0.91, along with a marginal increase in the India VIX by 0.97%. On the Call options side, the 5600 call lost the maximum open interest, followed by the 6000 & 5800 calls, while 5500 call added the maximum open interest, followed by the 5700 call. On the Put Options side, the 5500 put added the maximum open interest, followed by the 5400 & 5600 puts. The entire activity in the F&O space indicates fresh longs in Index futures along with profit booking on the Call options side and option writing on the Put options side.

On the technical side, although Nifty staged a smart pullback, but the underlying market breadth is still very cautious and every rise in the markets, will be used as a selling opportunity. The levels to watch out for Nifty, will be 5606, 5645 on the upside and 5514, 5461 on the downside. On the Currency front, the Rupee fell to a one –week low today, as tumbling commodity prices hit global risk currencies, but pared losses after lower than expected inflation data raised hopes of a rate cut next month. The partially convertible Rupee finally closed at 54.62 while the near month USD-INR future settled at 54.70 for the day.

On the international markets front, the Asian and the European markets have closed deep in the red, and the U.S. markets are also trading with losses after China’s economy grew at a slower pace than economists forecast. On the Energy futures front, both the Brent and WTI crude oil futures are trading down by 2.08 &  2.69% at 100.89 & 89.15 $/bbl respectively, while the Natural gas future is trading down by 1.49% at 4.15 $/MMBtu.

DESPAIR

The markets opened with a gap down on the back of lower than expected revenue guidance from Infosys, which raised concerns over the outlook for the software services exporting sector.  The markets continued to trade with a strong negative bias throughout the entire trading session and ultimately both the indices closed near their lowest point of the day, marking the biggest single day fall, since late February. The Nifty and the Sensex closed down by 65 and 299 points down respectively. The market breadth was extremely negative with 550 advances to 798 declines. On the sectoral front, obviously the IT sector was the biggest loser, while the FMCG sector was the biggest gainer followed by the Banking sector. On the individual stocks front, JP Associates, Ambuja Cement, ITC, Asian Paint & BPCL were the top five Nifty gainers, while Infosys, Coal India, HCL Tech, TCS & L&T were the top five Nifty losers for the day. On the Institutional side, both FIIs and DIIs were net sellers to the tune of 28 & 312 crores in the cash market.

On the derivatives side, FIIs were net sellers in both Index futures and Options to the tune of 402 & 451 crores respectively, while they were net sellers in Stock futures to the tune of 39 crores and net buyers in stock options to the tune of 32 crores. Nifty future settled at 5535, with just 7 points premium to the spot, along with a marginal increase in open interest. On the options side, PCR stood at 1.02, along with a fall in the India VIX by 3.06%. On the Call options side, the 5600 call added the maximum open interest, followed by the 5500, 5700 & 5800 calls, while the 5900 call lost the maximum open interest, followed by the 6000 call. On the Put options side, the 5600 put lost the maximum open interest, followed by the 5500, 5400 & 5700 puts. The entire activity in the F&O space indicates further shorting in Index futures and Call options, while in the Put options space, there was liquidation of long positions.

On the technical side, after a brief relief Nifty once again resumed its downward journey,which once again highlights the complete risk aversion among the market participants. The only support now seems to be the 5453 level, beyond which there will be a free fall. The levels to watch out for Nifty, will be 5549, 5571 on the upside and 5500, 5473, 5453 on the downside. On the currency front, the Rupee ended flat on Friday, as slump in local stocks was evened out by hopes the central bank would cut interest rates next month after data showed slowing consumer inflation. The partially convertible Rupee finally closed at 54.52, while the near month USD-INR future settled at 54.68 for the week.

On the international markets front, the Asian markets closed on a mixed note, while the European markets have closed deep in the red and the U.S. markets have ended almost flat. On the Energy futures front, both the Brent and WTI crude oil futures have closed down by 1.11 & 2.37% at 103.11 & 91.29 $/bbl, while the Natural Gas future closed up by 2.01% at 4.22 $/MMbtu. 

RELIEF

The markets opened  with a gap up and maintained their positive momentum throughout the entire trading session, barring a exception of half an hour, when the markets slipped into the red , but ultimately both the indices managed to close very near to their day’s high. The Nifty and the Sensex closed up by 35 and 128 points respectively. The market breadth was evenly poised with 711 advances to 628 declines. On the sectoral front, the Banking sector was the biggest gainer, followed by the IT, Pharma & FMCG sectors. On the individual stocks front, DLF, Tata Motors, IndusInd Bank, Infosys & ICICI Bank were the top five nifty gainers, while HDFC, Bharti Airtel, Tata Steel, Grasim & NTPC were the top five Nifty losers for the day. On the Institutional side, both FIIs & DIIs were net buyers to the tune of mere 37 and 58 crores respectively in the cash market.

On the derivatives side, FIIs were net buyers in both Index futures and Options to the tune of 267 & 1179 crores respectively, while they were net buyers in Stock futures to the tune of 940 crores and net sellers in Stock options to the tune of 223 crores. Nifty future settled at 5595 with just one point premium to the spot, along with a considerable increase in open interest. On the options side, PCR stood at 1.01, along with an increase in the India VIX by 2.91%. On the Call options side, the 5900 call added the maximum open interest, while there was uniform loss of open interest from the 5500 to 5800 calls. On the Put Options side, the 5500 put added the maximum open interest, followed by the 5400, 5600 & 5300 puts, while the 5200 put lost the maximum open interest. The entire activity in the F&O space indicates profit booking on the call options side, along with some put writing happening at the lower levels of the market.

On the technical side, Nifty made a smart pullback but as mentioned yesterday, met the stiff overhead resistance at 5610. The overseas markets also added support to the pullback and it seems that the immediate overhead resistance may be overcome by tomorrow, but the upward movement will largely depend on the corporate results season that kicks off from tomorrow and the macroeconomic data. The levels to watch out for Nifty will be 5622, 5650 on the upside and 5554, 5514 on the downside.

On the International markets front, the Asian and the European markets have closed on a strongly positive note and the U.S. markets have also risen as better than estimated drop in jobless claims and gains by retailers offset a slump in technology shares. On the Energy futures front, both the Brent and WTI crude oil futures are trading down by 1.37& 1.28% at 104.34 & 93.43 $/bbl respectively, while the Natural gas future is trading up by 1.04%  at 4.128 $/MMBtu.

BREATHER

The markets opened on a fairly positive note, and traded with a strong positive bias, barring a few instances, when the markets momentarily slipped into the red, the overall market breadth was positive and ultimately both the indices closed very near to their highest point of the day. The Nifty and the Sensex closed up by 63 & 188 points respectively. The market breadth was however evenly balanced with 682 advances to 656 declines. On the sectoral front, the Banking sector was the biggest gainer, followed by the IT, Midcap & Infra sectors, while the FMCG sector was the biggest loser for the day. On the individual stocks front, Reliance Infra, HDFC, HCL Tech, JP Associates & Kotak Bank were the top five Nifty gainers, while Jindal Steel, Sun Pharma, Hind Unilever, Dr. Reddy & ITC were the top five Nifty losers for the day. On the institutional side, both  FIIs & DIIs were net buyers to the tune of 40 & 197 crores respectively in the cash market.

On the derivatives side, FIIs were net sellers in both Index futures and Options to the tune of 218 & 280 crores respectively, while they were net buyers in Stock futures to the tune of 608 crores and net sellers in Stock options to the tune of 15 crores. Nifty future settled at 5564, with just 5 points premium to the spot, along with a considerable increase in open interest. On the Options side, PCR stood at 0.90, along with a marginal decrease in India VIX by 1.96%. On the Call options side, the 5300 call added the maximum open interest, while there was uniform loss of open interest 5500 to 6000 calls. On the Put options side, the 5400 put added the maximum open interest, followed by the 5300, 5500 & 5200 puts, while there was uniform loss of open interest from the 5600 to 6000 puts. The entire activity in the F&O space indicates further shorting in Index futures, while there was profit booking on the Call options side and some more long positions were added on the Put options side.

On the technical side, Nifty finally managed to pullback from the from the seven month lows, but the markets are still not out of the woods, which was clearly indicated by the market breadth and lack of participation by the FIIs. Nifty has to clearly make a pullback beyond the 5750 mark in order to make a meaningful recovery, but as of now the first hurdle seems to be the 5610 mark which must be conquered and sustained, in order to convince the market participants to come forward and participate. The levels to watch out for Nifty, will be 5593, 5627 on the upside and 5501, 5485 on the downside. On the currency front the Rupee rose today as domestic shares recovered from a five-day slump, though concerns about recent heavy foreign outflows and dollar demand from oil importers kept gains in check. The partially convertible Rupee finally closed at 54.52, while the near month USD-INR future settled at 54.65 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 extremely positive note and the U.S. markets have risen as China’s imports grew, Japan reiterated it stimulus plans and investors speculated earnings will beat estimates. On the Energy futures front, the Brent crude oil future is trading down by 0.50% at 105.64 $/bbl, while the WTI crude oil futures is trading almost flat at 94.21 $/bbl and the Natural gas future is trading up by 2.70% at 4.12 $/MMBtu.

ANXIETY

The markets opened on a mildly positive note and continued to trade in a positive territory for greater part of the trading session, but within the last one hour of trade the markets started losing their gains, but the ferocity of fall caught everyone by surprise and ultimately both the indices closed deep in the red, near their lowest point of the day. The Nifty and the Sensex closed down by 48 and 211 points respectively. The market breadth also turned extremely negative, with 416 advances to 905 declines. On the sectoral front, the FMCG sector was the biggest loser, followed by the Energy, Banking, IT & Midcap sectors. On the individual stocks front, Tata Motors, Cairn, TCS, IDFC & Jindal Steel were the top five Nifty gainers, while Reliance Infra, ONGC, Infosys, PNB & State Bank of India were the top five Nifty losers for the day. On the institutional side, FIIs were net sellers to the tune of 664 crores while the DIIs were net buyers to the tune of 988 crores in the cash market. 

On the derivatives side, FIIs were net sellers in Index futures to the tune of mere 15 crores and net buyers in Index options to the tune of 1049 crores, while they were net buyers in Stock futures to the tune of 715 crores and net sellers in Stock options to the tune of 43 crores. Nifty future settled at 5500, with just 5 points premium to the spot, along with a massive increase in open interest. On the Options side, PCR stood at 0.93, along with a marginal increase in the India VIX by 0.30%. On the Call options side, the 5500 call added the maximum open interest, followed by the 5600 & 5400 calls, while there was uniform loss of open interest from the 5700 to 6000 calls. On the Put options side, the 5200 put added the maximum open interest, followed by the 5400 & 5100 puts, while there was uniform loss of open interest from the 5500 to 6000 puts. The entire activity in the F&O space indicates massive shorts formation in the Index futures along with Call writing and fresh longs on the Put options side.

On the technical side, the overall bearish trend in Nifty continues and inspite of being in the oversold territory, the markets are touching new lows, and the fresh shorts are adding to the downward pressure, but it’s only a matter of time before the much awaited technical bounce back will happen and erase some of the losses. The levels to watch out for Nifty will be 5542, 5570 on the upside and 5484, 5453 & 5412 on the downside. On the Currency front the Rupee weakened marginally today, as a sharp selloff in domestic shares, raised concerns about foreign investor outflows at a time when the country is looking to narrow a record current account deficit. The partially convertible Rupee finally closed at 54.58, while the near month USD-INR future settled at 54.75 for the day.

On the international markets front, the Asian and the European markets have closed on a mixed note and the U.S. markets have close on a positive note. On the Energy futures front, both the Brent and WTI crude oil futures have closed almost flat at 106.35 & 93.94 $/bbl respectively, while the Natural Gas future has closed up by 0.55% at 4.04 $/MMBtu.

OVERSOLD

The markets opened on a very quite note and traded in an extremely narrow range throughout the entire trading session. It was complete lackluster session and ultimately both the indices closed in the red. The Nifty and the Sensex closed down by 10 & 12 points respectively. The market breadth was however negative with 547 advances to 735 declines. On the sectoral front, the Banking sector was the biggest loser, followed by the IT sector, while the Energy sector was the biggest gainer for the day. On the individual stocks front, Bharti Airtel, Rel Infra, BHEL, Ambuja Cement & Cipla were the top five Nifty gainers, while Asian Paint, Sesa Goa, Ranbaxy, Axis Bank & PNB were the top five Nifty losers for the day. On the institutional side, FIIs were net sellers to the tune of 164 crores, while DIIs were net buyers to the tune of 212 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures, to the tune of 325 crores and net buyers in Index options, to the tune of 192 crores, while they were net buyers in both Stock futures and options to the tune of 82 and 36 crores respectively. Nifty future settled at 5559 with 16 points premium to the spot, along with a considerable increase in open interest. On the Options side PCR stood at 0.91, along with a increase in the India VIX by 3.77%. On the Call options side, the 5800 call added the maximum open interest, followed by the 5700 & 5600 calls. On the Put options side, the 5600 put lost the maximum open interest, followed by the 5800 & 5700 puts, while the 5500 put added the maximum open interest, followed by the 5400 put. The entire activity in the F&O space indicates fresh shorts in the Index futures along with Option writing on the Call options side.

On the technical side, Nifty closed below its crucial support for the third consecutive session, but the technical indicators on the daily and weekly charts indicate a oversold situation and hence a short technical pullback from these levels cannot be ruled out. The levels to watch out for Nifty will be 5562, 5584 on the upside and 5530, 5517 & 5495 on the downside. On the currency front, the Rupee posted its biggest gain, against the dollar in more than three weeks on the back of dollar sales by a large corporate and custodian banks. The partially convertible Rupee finally closed at 54.56, while the near month USD-INR future settled at 54.76 for the day.

On the international markets front, the Asian markets have closed on a relatively stronger note, while the European markets have also closed on a positive note and the U.S. markets are little changed as investors await the earnings season. On the Energy futures front, the Brent crude oil future is trading down by 0.35% at 103.75 $/bbl, while the WTI crude oil future is trading up by 0.20% at 92.89 $/bbl and the Natural gas future is trading down by 0.35% at 4.10 $/MMBtu.

BLEAK

The markets opened on an absolutely flat note and traded rangebound for the initial two hours of trade, but from that point onwards, it was a rollercoaster ride for the markets, touching their intraday lows within the next one hour, then recovering their entire losses over the next two hours and once again touching their intraday lows within the next one hour and ultimately recovering some of their losses and closing very near to their day’s low. The Nifty and the Sensex closed down by 21 & 59 points respectively. The market breadth became evenly balanced towards the end of the session with 726 advances to 762 declines. On the sectoral front, the FMCG sector was the biggest loser, followed by the Banking and IT sectors, while the Energy sector was the biggest gainer for the day. On the individual stocks front, Maruti, ONGC, Sesa Goa, Hero Motocorp & BPCL were the top five Nifty gainers, while NMDC, ITC, HDFC, NTPC & IDFC were the top five Nifty losers for the day. On the institutional side, FIIs were net sellers to the tune of 203 crores , while DIIs were net buyers to the tune of mere 21 crores in the cash market.

On the derivatives side, FIIs were net sellers in Nifty futures to the tune of 1106 crores and net buyers in Index options to the tune of 367 crores, while they were net buyers in both Stock futures and Options to the tune of 120 & 102 crores respectively. Nifty future settled at 5572, with 19 points premium to the spot, along with a considerable increase in open interest. On the Options side, PCR stood at 0.92, along with a marginal increase in India VIX by 1.96%. On the Call options side, the 5600 call added the maximum open interest, followed by the 5700, 5800 & 5500 calls. On the Put Options side, the 5600 put lost the maximum open interest, followed by the 5700 & 5300 puts, while the 5400 put added the maximum open interest. The entire activity in the F&O space indicates massive shorting in the Index futures along with Call writing and some profit booking on the Put options side.

On the technical side, Nifty has gapped down and closed below the 250 DEMA, for two consecutive sessions, but still there seems to be no respite from the selling pressure and looking at the F&O data and international markets,  more pains seems to be in store for the markets. The levels to watch out for Nifty, will be 5575, 5597 on the upside and 5532, 5511 & 5489 on the downside. On the currency front, the Rupee, rose on Friday, snapping two sessions of losses but the gains lacked conviction as the local currency remained buffeted by fears of political instability and macroeconomic concerns. The partially convertible Rupee, finally closed at 54.80, while the near month USD-INR future settled at 55.09 for the day.

 On the international markets front, the Asian markets closed on a mixed note, while the European markets closed deep in the red, and the U.S. markets also closed for the week with moderate losses. On the Energy futures front, both the Brent and WTI crude oil futures closed down by 2.09 & 0.60 % at 104.12 & 92.7 $/bbl respectively, while the Natural Gas futures close up by 4.51% at 4.13 $/MMBtu.

SHOCKED

The markets opened on a negative note after yesterday’s magnificent gains, and continued to trade rangebound till the start of the second half of the trading session, but post that point the cut started getting deeper and with just one and a half hour left for the end of the day’s session the markets fell almost vertically, but the ferocity of the fall, took everyone by surprise. As across the sector selling gripped the market, there was hardly anything left to do except watching clueless, as to what struck the market suddenly. The Nifty and the Sensex closed down by 75 and 239 points respectively. On the sectoral front, the Banking sector was the biggest loser, followed by the Energy, Auto, Midcap and IT sectors. On the individual stocks front, Sun Pharma, NTPC, Ranbaxy, Tata Power & ITC were the top five Nifty gainers while NMDC, DLF, Bharti Airtel, Tata Motors & Bajaj Auto were the top five Nifty losers for the day. On the institutional side, FIIs were net sellers to the tune of 368 crores, while DIIs were net buyers to the tune of mere 38  crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures to the tune of 722 crores and net buyers in Index options to the tune of 879 crores, and they were also net buyers in Stock futures to the tune of 501 crores and net sellers in stock futures to the tune of mere 72 crores. Nifty future settled at 5688 with just 15 points premium to the spot along with a considerable addition of open interest. On the Options side PCR stood at 0.94, along with an increase in the India VIX by 5.46%. On the Call options side, there was unwinding of positions from the 5000 to 5500 calls, while on the other hand the 5800 call added the maximum open interest, followed by the 6000, 5900 & 5800 calls. On the Put options side, the 5500 put added the maximum open interest, followed by the 5600 & 5200 puts, while the 5300 put lost the maximum open interest, followed by the 5700 put. The entire activity in the F&O space indicates, unwinding of longs in the call options side along with call writing at the higher levels and fresh short in the Index futures.

On the technical side, Nifty failed to carry the momentum for the next session and 5750 proved to be a crucial resistance and Nifty gave away almost all the gains, built up over the last few sessions. The levels to watch out for Nifty will be 5728, 5750 on the upside and 5633, 5616, 5594 on the downside. On the currency front the Rupee fell today, tracking a decline in domestic stocks on global risk aversion ahead of key global central bank decisions and continued concerns over political stability. The partially convertible Rupee finally closed at 54.43, while the near month USD-INR future settled at 54.74 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 after worse than expected economic data spurred concern over economic growth. On the Energy futures front, both the Brent and WTI crude oil futures are tarding down by 2.93 & 2.77% at 107.42 & 94.48 $/bbl respectively and the Natural gas future is trading down by 1.40% at 3.91 $/MMBtu.

REBOUND

The markets opened on a negative note and continued to trade in the red, 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 recovering on a steady note and ultimately both the indices managed to close near their highest point of the day. The Nifty and the Sensex closed up by 44 & 176 points respectively. The market breadth was also extremely positive with 1141 advances to 371 declines. On the sectoral front the Pharma sector was the biggest  gainer followed by the Energy, Midcap, Banking & IT sectors. On the individual stocks front Sun Pharma, Reliance Infra, Sesa Goa, IDFC & Cairn were the top five Nifty gainers while Bajaj Auto, Asian Paint, Axis Bank, HDFC & Bharti Airtel were the top five Nifty losers for the day. On the institutional side FIIs were net sellers to the tune of mere 45 crores and DIIs were net buyers to the tune of 205 crores in the cash market.

On the derivatives side, FIIs were net buyers in both Index futures and Options to the tune of 138 & 48 crores respectively, while they were net buyers in the Stock futures to the tune of 108 crores and net sellers in Stock Options to the tune of just 89 crores. Nifty futures settled at 5766, with just 18 points premium to the spot, along with a considerable addition of open interest.  On the Options side PCR stood at 0.99, along with a fall in the India VIX by 5.05%. On the Call options side, there was uniform loss of open interest from the 5000 to 5500 calls while the 5900 call added the maximum open interest, followed by the 5800 & 6000 calls. On the Put options side the 5400 put added the maximum open interest, followed by the 5700, 5600 & 5300 puts.  The entire activity in the F&O space indicates profit booking in the deep in the money options along with addition of long positions on the Call options side and option writing on the Put Options side.

On the technical side, Nifty managed to touch the crucial resistance of 5750, and the technical indicators are also supportive of the upmove and we may see Nifty convincingly , conquering the 5750 mark tomorrow and may well touch the 5800 mark very soon. The levels to watch out for Nifty, will be 5772, 5796 on the upside and 5702 & 5662 on the downside. On the Currency front, the Rupee edged higher today, the first trading day of the new fiscal year, helped by bunched inflows, but a record current account deficit weighed on the currency. The partially convertible Rupee finally closed at 54.26, while the near month USD-INR future settled at 54.60 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 strongly positive note, on the back of better than expected economic data, while the U.S. markets are trading in the green as orders placed with the U.S. factories increased in February and Cyprus received easier bailout terms. On the Energy futures front, the Brent crude oil future is trading down by 0.35% at 110.69 $/bbl while the WTI crude oil future is trading almost flat 97.16 $/bbl and the Natural gas future is trading  down by 1.11% at 3.97 $/MMBtu 

HESITANT

The markets opened on positive note and touched their intraday highs within the first hour of trade, but post that point the markets started losing their gains and ultimately lost all their gains and briefly entered the negative zone in the second half of the trading session, but surprisingly recovered from that point onwards and managed to recover some part of their losses and ultimately both the indices managed to close on a positive note. The Nifty and the Sensex closed up by 22 & 29 points respectively. The market breadth also closed on a very positive note with 1145 advances to 373 declines. On the sectoral front, the Midcap sector was the biggest gainer followed by the Banking, Pharma, IT and Energy sectors. On the individual stocks front, DLF, Cairn, Rel Infra, JP Associate & Dr. Reddy were the top five Nifty gainers, while Sesa Goa, Jindal Steel, NMDC, Tata Motors & Coal India were the top five Nifty losers for the day.  On the institutional side, FIIs were net buyers to the tune of 313 crores and DIIs were net sellers to the tune of 269 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures to the tune of 417 crores and net buyers in Index options to the tune of 469 crores, while they were net buyers in both Stock futures and Options to the tune of mere 85 & 22 crores respectively. Nifty future settled at 5706, with just 2 points premium to the spot, along with a considerable increase in open interest. On the Options side, PCR stood at 1.02, along with a decrease in the India VIX by 2.43%. On the Call options side, there was profit booking form the 5000 to 5500 call, while 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 5300 & 5500 puts. The entire activity  in the F&O space indicates addition of longs on the higher side of the market along with put writing at lower levels, indicating some sort of range formation in the Nifty.

On the technical side, Nifty somehow managed to close above the 5700 mark, but further upmove will depend a lot on the international news and the domestic political scenario. The levels to watch out for Nifty will be 5724, 5759 on the upside and 5679, 5655 on the downside.

On the international markets front, the Asian markets have closed deep in the red, while the European markets have managed to closed on a fairly positive note and the U.S. markets are trading with losses as a report showed American manufacturing expanded less than forecast in March. On the energy futures front, the Brent crude oil future is trading up by 1.08% at 111.20 $/bbl while WTI crude oil future is trading down by 0.29% at 96.95 $/bbl and the Natural gas future is trading almost flat at 4.02 $/MMBtu.