PAUSE

The markets opened on a strong note, tracking their Asian peers, and traded rangebound for greater part of the session, but with just one and a half hour left for the end of the day’s session, the markets lost all their gains and touched their intraday lows and ultimately both the indices closed very near to their lowest point of the day. The Nifty and the Sensex closed down by 20 & 49 points respectively. The market breadth was extremely negative with 440 advances to 949 declines. On the sectoral front, the Midcap sector was the biggest loser, followed by the Energy and Banking sectors, while the FMCG sector was the biggest gainer followed by the Pharma sector. On the individual stocks front, Sun Pharma, Bharti Airtel, Dr. Reddy, NTPC & ITC were the top five Nifty gainers, while Larsen Toubro, DLF, JP Associates, Bank of Baroda & BPCL were  the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 540 crores, while DIIs were net sellers to the tune of 973 crores in the cash market.

On the derivatives side, FIIs were net buyers in Index futures to the tune of 561 crores and net sellers in Index options to the tune of 304 crores, while they were net sellers in Stock futures to the tune of 267 crores and net buyers in Stock options to the tune of mere 27 crores. Nifty future settled at 6104, with just 10 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 marginal decline in India VIX by 0.89%. On the Call options side, the 6100 call added the maximum open interest, followed by the 6200 & 6000 calls, while there was uniform loss of open interest, form the 5000 to 5900 calls. On the Put options side, the 5900 put added the maximum open interest, followed by the 6100 & 5600 puts, while there was uniform loss of open interest from the 5100 to 6200 puts. The entire activity in the F&O space indicates mild profit booking in the options space along with marginal addition of long positions.

On the technical side, Nifty fell for the second consecutive session, and the daily trend seems to be turning the other way, but on the weekly charts, the trend seems to be intact. The levels to watch out for Nifty will be 6165, 6210 on the upside and 6082, 6055 & 6010 on the downside. On the currency front, the Rupee fell for the fourth consecutive session today, hurt by dollar demand from oil refineries and a late fall in equities. The partially convertible Rupee finally closed at 55.46, while the near month USD-INR future settled at 55.58 for the day.

On the international markets front the Asian and the European markets have closed on a fairly positive note, and the U.S. markets have risen after remarks from the Federal Reserve chairman, that a tightening policy too soon would endanger the economic recovery. On the Energy futures front, both the Brent and WTI crude oil futures are trading down by 0.78 & 1.36% at 103.11 & 94.85 $/bbl respectively after the data showed a more than expected rise in U.S. weekly crude oil inventories, and the Natural gas future is trading down by 0.20% at 4.18 $/MMBtu.

EXTENSION

The markets opened on a flat note after Thursday’s muted close and entered the negative zone within the first fifteen minutes of trade and traded rangebound for greater part of the session, but within the last half an hour of the trading session, the markets made an almost vertical ascent and touched their intraday highs before closing near the highest point of the day. The Nifty and the Sensex closed up by 17 & 34 points respectively. The market breadth was negative with 630 advances to 739 declines. On the sectoral front, the Banking sector was the biggest gainer, followed by the Midcap, Infra & IT sectors. On the individual stocks front, BHEL, JP Associate, DLF, Reliance Infra & NTPC were the top five Nifty gainers, while HCL Tech IndusInd Bank, Dr. Reddy, Bharti Airtel & NMDC were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 868 crores, while DIIs were net sellers to the tune of 717 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures to the tune of 310 crores and net buyers in Index options to the tune of mere 26 crores, similarly they were net sellers in Stock futures to the tune of 108 crores and net buyers in Stock options to the tune of 34 crores. Nifty future settled at 6196 with just nine points premium to the spot along with marginal increase in open interest. On the Options side, PCR stood at 1.08, along with a marginal decline in the India VIX by 0.96%. On the Call options side, except the 6300 & 6200 call there was uniform loss of open interest from the 5000 to 6100 calls. On the Put options side, the 6200 put added the maximum open interest, followed by the 6100 & 6000 puts, while there was uniform loss of open interest, from the 5500 to 5900 puts. The entire activity in F&O space indicates, profit booking on the call options side along with option writing on the higher side of the market in the put options side.

On the technical side, Nifty continued to scale new highs, and is well on its way to scaling new peaks, as indicated by the various indicators on the daily and weekly charts. The levels to watch out for Nifty, will be 6209,6231 on the upside and 6155, 6123 on the downside. On the currency front, the partially convertible Rupee managed to close at 54..88, while the near month USD-INR future settled at 54.95 for the week.

On the international markets front, the Asian, European and the U.S. markets have all closed on a very positive note for the week. On the Energy futures front, both the Brent and the WTI crude oil future have closed up by 0.12 & 0.90 % at 103.80 & 96.02 $/bbl respectively, while the Natural gas future has closed up by 3.13% at 4.06 $/MMBtu.

BREATHER

The markets opened on a very quite note, after yesterday’s phenomenal rise, but retained their positive momentum within the first one hour of trade, but traded rangebound for the entire session and ultimately both the indices closed on a positive note, with modest gains. The Nifty and the Sensex closed up by 23 and 34 points respectively. The markets continued their rally today amidst expectations of early rate cuts by RBI. The market breadth was however marginally negative with 674 advances to 709 declines. On the sectoral front, once again the Banking sector was the biggest gainer, followed by the Energy, Pharma and Midcap sectors, while the FMCG sector was the biggest loser for the day. On the individual stocks front, JP associate, IDFC, Lupin, Cipla & Reliance were the top five Nifty gainers, while NMDC, Tata Motors, ITC, Jindal Steel & TCS were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 1070 crores and the DIIs were net sellers to the tune of 390 crores in the cash market.

On the derivatives side, FIIs were net buyers in Index futures to the tune of mere 62 crores, and net sellers in Index options to the tune of 509 crores, while they were net sellers in Stock futures to the tune of 195 crores and net buyers in Stock options to the tune of mere 0.53 crores. Nifty future settled at 6178, with 11 points premium to the spot, along with a marginal increase in open interest. On the Options side, PCR stood at 1.05, along with a fall in the India VIX by 2.15%. On the Call options side, there was uniform loss of open interest from the 5000 to 6100 calls, while the 6200 call added the maximum open interest. On the Put options side, the 5800 put lost the maximum open interest, followed by the 5600 & 5900 puts, while the 6200 put added the maximum open interest, followed by the 6000 & 6100 puts. The entire activity in the F&O space indicates profit booking on the Call options space and put writing on the Put options side along with a marginal increase in long positions in the Index futures.

On the technical side, Nifty touched its two and a half year high, amidst strong global inflows and there seems to be no stopping even after yesterday’s meteoric rise. The technical indicators on the daily as well as weekly charts are also supportive of a strong upmove. The levels to watch out for Nifty, will be 6194, 6220 on the upside and 6111, 6032 on the downside. On the currency front, the Rupee close almost flat, as gains in domestic share market were offset by the euro’s fall versus the dollar. The partially convertible Rupee finally closed at 54.77, while the near month USD-INR future settled at 54.89 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 negative note and the U.S. markets are fluctuating between gains and losses as housing starts and manufacturing in the Philadelphia area slumped and jobless claims arose. On the Energy futures front, both the Brent and WTI crude oil future are trading up by 0.3 & 0.72% at 103.88 and 95 $/bbl respectively, and the Natural gas future is trading down by 3.70 % at 3.920 $/MMBtu after a more than expected rise in weekly U.S. natural gas inventories.

ECSTATIC

The markets started opened on a quite note after yesterday’s muted close, but things started changing dramatically as the markets gained strength with every passing hour and ultimately both the indices broke their January highs and finally closed near the highest point of the day. The Nifty and Sensex closed up by 151 and 491 points respectively. The market breadth was also positive with 909 advances to 461declines. On the sectoral front, the Banking sector was the biggest gainer, followed by the FMCG, Midcap, Energy and Pharma sectors. On the individual stocks front, Punjab National Bank, Kotak Bank, DLF, Indus Ind Bank & Reliance Infra were the top five Nifty gainers, while Powergrid, Cairn & Ultratech Cement were the top Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of a massive 1647 crores, while DIIs were net sellers to the tune of 747 crores in the cash market.

On the derivatives side, FIIs were net buyers in both Index futures and Options, to the tune of 246 and 343 crores respectively, while they were net sellers in both Stock futures and Options to the tune of 383 and 16 crores respectively. Nifty future settled at 6161, with 14 points premium to the spot, along with a sizeable increase in open interest. On the Options side, PCR stood at 0.93, along with an increase in India VIX by 5.59%. On the Call options side, except the 6100 call, there was uniform loss of open interest from the 5100 to 6200 calls. On the Put options side, the 6100 put added the maximum open interest, followed by the 6200 & 6000 puts, while there was uniform loss of open interest from the 5000 to 5800 puts. The entire activity in the F&O space indicates further addition of long positions along with profit booking on the Call options side and some Put writing on the Put Options side.

On the technical side Nifty made a remarkable pullback after the massive slide two day’s ago, and broke its January highs, with ease, indicating a strong upside momentum, which may continue for few more sessions. The levels to watch out for Nifty will be 6196 & 6245 on the upside and 6058, 6010 on the downside.On the currency front, the Rupee ended marginally higher today, as sharp gains in domestic shares, offset the dollars rise versus most major currencies, particularly the euro. The partially convertible Rupee finally closed at 54.78, while the near month USD-INR future settled at 54.93 for the day.

On the international markets side, 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, amid speculation on central bank stimulus measures as reports showed manufacturing shrank in the world’s largest economy. On the Energy futures front, the Brent crude oil future is trading up by 0.31% at 102.83 $/bbl, while the WTI crude oil future is trading down by 0.23% at 93.99 $/bbl and the Natural gas future is trading up by 0.97% at 4.06 $/MMBtu

TREND CHANGE ?

The markets opened on a very shaky note, after yesterday’s carnage, and briefly entered the negative zone, within the first fifteen minutes of trade, but eventually started inching upwards and touched their intraday highs over the next two hours, and from that point onwards, the markets traded rangebound till the end of the session and ultimately both the indices closed on an almost flat note. The main reason for the markets to end up in the green was the wholesale inflation index, which eased to its lowest in three years, spurring hope that the RBI could continue to cut rates. The Nifty and the Sensex closed up by 15 & 31 points respectively. The market breadth was however negative with 651 advances to 717 declines. On the sectoral front, the Pharma sector was the biggest gainer, followed by the Midcap sector, while the rest of the sectors ended up with marginal gains. On the individual stocks front, Ranbaxy, Sun Pharma, Bank of Baroda, Power Grid & ONGC were the top five Nifty gainers, while Dr. Reddy, HCL Tech, Bajaj Auto, BHEL & JP Associate were the top five Nifty losers for the day. On the Institutional side, FIIs were net buyers to the tune of 421 crores, while the DIIs were net sellers to the tune of 412  crores in the cash market.

On the derivatives side, FIIs were net buyers in both Index futures and options, to the tune of 324 & 273 crores respectively, while they were net sellers in Stock futures to the tune of 178 crores and net buyers in Stock Options to the tune of mere 4 crores only. Nifty future settled at 6006, with 11 points premium to the spot, along with a considerable increase in open interest. On the Options side PCR stood at 1.06, along with a fall in the India VIX by 1.94%. On the Call Options side, the 6200 call lost the maximum open interest, followed by the 6100, 5600 & 5700 calls, while the 6000 call added the maximum open interest followed by the 5900 call. On the Put Options side, the 5900 put added the maximum open interest, followed by the 5800 & 5500 puts, while the 6100 put lost the maximum open interest, followed by the 5700 put. The entire activity in the F&O space indicates profit booking in the options space along with fresh longs in Index futures.

On the technical side, the immediate uptrend seems to be in danger, as there are clear signals of exhaustion and Nifty may see a healthy correction before the next uptrend begins, but one has to remember that Nifty is still trading in the breakout zone, and any deep correction will be followed by a sharp bounceback. The levels to watch out for Nifty will be 6024, 6053 on the upside and 5968, 5941, 5916 on the downside. On the currency front the Rupee ended lower today, as a sharp fall in wholesale inflation raised optimism that the central bank would cut rates to boost economic growth. The partially convertible Rupee finally closed at 54.81, while the near month USD-INR future closed at 54.94 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 mildly positive note and the U.S. markets are trading with modest gains on increased optimism over growth in the world’s largest economy. On the Energy futures front, both the Brent and WTI crude oil futures are trading marginally down at 102.59 & 94.89 $/bbl respectively, while the Natural gas future is trading up by 1.58% at 3.98 $/MMBtu

SUBTLE

As expected the markets opened on a subdued note and entered the negative zone within the first fifteen minutes of trade and traded rangebound for the next three hours but once gain recovered and mildly traded in the green for the next two hours, before falling once again and closing in the red, till the end of the session. The markets snapped their three session winning streak, as investors booked profits in recent outperforming blue chips. The Nifty and the Sensex closed down by 19 and 51 points respectively. The market breadth was extremely negative with 579 advances to 818 declines. On the sectoral front, the Pharma sector was the biggest loser followed by the Banking and Midcap sectors, while the IT sector was the sole gainer for the day. On the individual stocks front, Punjab National Bank, HCL Tech, Ambuja Cement, State Bank of India & Reliance Infra were the top five Nifty gainers, while Sun Pharma, Asian Paint, Jindal Steel, NMDC & Axis Bank were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 663 crores and DIIs were net sellers to the tune of 476 crores in the cash market.

On the derivatives side FIIs were net buyers in both Index futures and Options to the tune of 327 & 364 crores respectively, while they were net sellers in both Stock futures and options to the tune of 244 and 98 crores respectively. Nifty future settled at 6049, at 1 point discount to the spot, along with a marginal increase in open interest. On the Options side, PCR stood at 1.17, along with a marginal decrease in India VIX by 0.95%. On the Call options side, the 6200 call added the maximum open interest, followed by the 6100 & 6000 calls, while there was uniform loss of open interest, from the 5000 to 5900 calls. On the Put Options side, the 5600 put lost the maximum open interest followed by the 5400 put, while the 5700 put added the maximum open interest, followed by the 5800, 6100 & 6000 puts. The entire activity in the F&O space indicates profit booking along with mild addition of long positions on the higher side of the market.

On the technical side, Nifty reacted to the fatigue set in yesterday, and stayed subdued for the entire session, in line with the international markets. Today’s mild fall marks the start of the consolidation phase which Nifty and the other international markets must enter before, entering the next phase. However the immediate trigger for Nifty seems to be the consumer inflation data and IIP figures due tomorrow, followed by whole sale inflation data on Monday. The levels to watch out for Nifty, will be 6076, 6103 on the upside and 6031, 6013 on the downside. On the currency front, the Rupee fell today as persistent dollar demand from oil and gold importers, offset the positive risk sentiment seen regionally. The partially convertible Rupee finally closed at 54.25, while the near month USD-INR future settled at 54.36 for the day.

On the international markets front, the Asian markets have closed in the red, while the European markets have closed on a mixed note and the U.S. markets are trading mildly in the green as investors weigh earnings and sales from companies. On the Energy futures front, both the Brent and WTI crude oil future are trading down by 0.30 & 0.66% at 104.03 & 96.03 $/bbl respectively, while the Natural gas future is trading almost flat at 3.98 $/MMBtu after an unexpected rise in U.S. weekly Natural gas inventories.

CAUTION

Once again the markets opened on a firm note, but after trading rangebound for the initial two hours of trade, the markets lost all their gains and traded in the negative territory for the next one and half hours and surprisingly recovered their losses beyond this point and once again started trading strongly and ultimately both the indices managed to close near their highest point of the day.  The Nifty and the Sensex closed up by 26 and 101 points respectively. The market breadth was however evenly poised with 694 advances to 683 declines. On the sectoral front, the FMCG sector was the biggest gainer, while the rest of the sectors closed with marginal gains or losses. On the individual stocks front, HDFC, Ultratech Cement, Lupin, ITC & Power Grid were the top five Nifty gainers, while Ranbaxy, Bharti Airtel, Tata Steel, Bank of Baroda & Hero Motocorp were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 977 crores and DIIs were net sellers to the tune of 669 crores in the cash market.

On the derivatives side, FIIs  were net buyers in both Index futures and Options, to the tune of 1081 and 141 crores respectively, while they were net sellers in both Stock futures and options to the tune of 404 and 41 crores respectively. Nifty future settled at 6075, with just 6 points premium to the spot, along with a marginal increase in open interest.On the Options side, PCR stood at 1.0, along with a rise in the India VIX by 1.58%. On the Call options side, the 6200 call added the maximum open interest, followed by the 6100 call, while there was uniform loss of open interest from the 5000 to 6000 calls. On the Put options side, 6000 put added the maximum open interest, followed by the 5900, 6100 & 5800 puts. The entire activity in the F&O space indicates further addition of long positions along with put writing .

On the technical side, Nifty touched yet another milestone, helped by the positive sentiment from the international markets, but in today’s gain there were clear signals of fatigue, which indicates that the markets may consolidate before making another upmove. The levels to watch out for Nifty will be 6093, 6117 on the upside and 6034, 5999, 5975 on the downside. On the currency front, the Rupee remained in a tight range today as positive sentiment due to stronger Asian currencies and the Euro was offset by demand for dollars from the custodian banks and oil importers. The partially convertible Rupee finally closed at 54.16, while the near month USD-INR future settled at 54.18 for the day.

On the international markets, the Asian and the European markets continued to scale new peaks and the U.S. markets have risen as earnings outlook for corporates beat analyst estimates. On the Energy futures front, Brent crude oil future is trading down by 0.21% at 104.22 $/bbl, while the WTI crude oil future is trading up by 0.55% at 96.16 $/bbl and the Natural gas future is trading up by 0.91% at 3.95 $/MMBtu after a more than expected fall in weekly U.S Gasoline inventories.

EUPHORIC

The markets opened on a very firm footing today, and as the session progressed the markets gained strength with every passing hour, and ultimately both the indices managed to close up by more than a percent, at their highest level in three months on expectations of continued foreign buying, as part of a powerful rally in global equities. The Nifty and the Sensex closed up by 72 and 215 points respectively. The market breadth was also positive with 836 advances to 561 declines. On the sectoral front the FMCG sector was the biggest gainer followed by the Banking, Midcap and Pharma sectors. On the individual stocks front, Hero Motocorp, Bharti Airtel, Axis Bank, DLF & ITC were the top five Nifty gainers, while Coal India, M&M, Ambuja Cement, BPCL & Ranbaxy were the top five Nifty losers for the day. On the institutional side, however FIIs were net buyers to the tune of 655 crores and DIIs were net sellers to the tune of 729 crores in the cash market.

On the derivatives side FIIs were net buyers in Index futures to the tune of 540 crores and net sellers in Index options to the tune of 487 crores, while they were net sellers in both Stock futures and options to the tune of 523 and 12 crores respectively. Nifty future settled at 6050, with just 7 points premium to the spot, along with a considerable increase in open interest. On the Options side, PCR stood at 1.07, along with an increase in the India VIX by 4.17%. On the Call options side, the 6200 call added the maximum open interest, while there was uniform loss of open interest from the 5000 to 6100 calls. On the Put options side, the 5600 put added the maximum open interest followed by the 5900, 5800 & 5700 puts. The entire activity in the F&O space indicates further addition of long positions along with profit booking in the lower levels on the Call options side coupled with Put writing at lower levels in order to hedge the long positions.

On the technical side, as suggested yesterday, Nifty continued to rise with the strong momentum built over the last few sessions and there seems to be no let up in the momentum as most of the indicators are still pointing to a upward movement and there is no negative divergence as of now. The levels to watch out for Nifty, will be 6068, 6081, 6136 on the upside and 6000, 5957 & 5932 on the downside. On the currency front, the Rupee rose today, snapping three sessions of losses as rumoured inflows related to a corporate deal helped offset dollar demand for defence related purchases. The partially convertible Rupee finally closed at 54.13, while the near month USD-INR future settled at 54.23 for the day.

On the international markets front, the Asian markets closed on a mixed note, while the European markets have closed on a positive note and the U.S. markets are trading in the green on optimism over global central bank stimulus and better than estimated earnings. On the Energy futures front both the Brent and WTI crude oil futures are trading down by 0.43 & 0.57% at 104.98 & 95.60 $/bbl resoectively and the Natural gas future is trading down by1.83% at 3.93 $/MMBtu.

CALM

The markets opened on a very shaky note and traded rangebound for the initial one hour of trade, but post that point as the session progressed the markets gained strength and maintained their positive momentum throughout the session and ultimately both the benchmark indices managed to close near their highest point of the day. The gains were mainly led by TCS, which rose on short covering and Hindalco industries, following copper’s rally on Friday. The Nifty and the Sensex closed up by 27 and 98 points respectively. The market breadth was also positive with 819 advances to 571 declines. On the sectoral front, the IT sector was the biggest gainer followed by the Energy and Auto sectors, while the FMCG sector was the biggest loser for the day. On the individual stocks front, Hindalco, Tata Steel, TCS, Asian Paint & NMDC were the top five Nifty gainers, while Kotak Bank, ONGC, Ambuja Cement, ITC & NTPC were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 897 crores and DIIs were net sellers to the tune of 541 crores in the cash market.

On the derivatives side FIIs were net buyers in Index futures to the tune of 422 crores and net sellers in Index options to the tune of 829 crores while they were net sellers in both Stock futures and options to the tune of 114 and 99 crores respectively. Nifty future settled at 5971, with no premium to the spot, along with a considerable increase in open interest. On the Options side, PCR stood at 1.14, along with a increase in the India VIX by 1.86%. On the Call options side, except the 6200 call, there was uniform loss of open interest from the 5000 to 6100 calls, while on the Put options side, the 5800 put added the maximum open interest, followed by the 5900, 6000 & 5700 puts. The entire activity in the F&O space indicates profit booking on the call options side, along with option writing on the Put options side.

On the technical side, Nifty maintained its positive momentum for six out of the last eight sessions and the F&O data coupled with positive newsflow from the international markets, will help to continue with this momentum. The levels to watch out for Nifty will be 5988, 6006 on the upside and 5940, 5910 on the downside. On the currency front, the Rupee fell to its lowest level in nearly a week on continued dollar demand from state run  banks, likely related to government’s defence purchases. The partially convertible Rupee finally closed at 54.17, while the near month USD-INR future settled at 54.26 for the day.

On the international markets front, the Asian and the European markets have closed on a mixed note, while the U.S. stocks have risen following last week’s data which showed more than forecasted rise in employment figures for the month of April. On the Energy futures front, both the Brent and WTI crude oil futures are trading up by 0.89 & 0.31% at 105.09 & 95.89 $/bbl respectively, while the Natural gas future is trading down by 1.03% at 4.00 $/MMBtu.

UNEASY

The markets opened on a negative note, but as the session progressed, the markets were in for a roller coaster ride, when the markets touched their intraday lows, within the initial two hours of trade, but again recovered almost all their losses over the next one and a half hours, to fall once again and close near their new intraday lows till the end of the session. The markets fell on Friday after the RBI cautioned it has limited room for further monetary easing, overshadowing the 25bps cut in key interest rate. The Nifty and the Sensex closed down by 55 and 160 points respectively. The market breadth was also extremely negative with 524 advances to 842 declines. On the sectoral front, the Banking sector was the biggest loser, followed by the FMCG and Auto sectors. On the individual stocks front, Jindal Steel, Hindalco, Tata Steel, HCL tech and Sun Pharma were the top five Nifty gainers, while Tata Motors, State Bank of India, Icici Bank, IDFC & GAIL were the top five Nifty losers for the day. On the institutional side FIIs were net buyers to the tune of 954 crores and DIIs were net sellers to the tune of 793 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures and Options to the tune of 13 and 468 crores respectively, while they were net sellers in Stock futures to the tune of 684 crores and net buyers in Stock options to the tune of 24 crores. Nifty future settled at 5948, with just 4 points premium to the spot, along with a marginal decrease in open interest. On the Options side, PCR stood at 1.07, along with a fall in the India VIX by 4.48%. On the Call options side, there was uniform loss of open interest from the 5000 to 5900 call, while the 6100 & 6000 call added the maximum open interest. On the Put options side, the 5500 put added the maximum open interest, followed by the 5800 & 5700 puts. The entire activity in the F&O space indicates mild profit booking due to less favorable market news.

On the technical side, although Nifty corrected a bit, but it still remains in the breakout zone and as of now, there seems no real danger of slipping back into the downward channel. The levels to watch out for Nifty, will be 5986, 6028 on the upside and 5916, 5888 on the downside. On the currency front, the Rupee weakened on Friday, as the central bank disappointed the markets with their hawkish tone in its annual monetary policy, despite delivering a widely expected 25 basis point rate cut. The partially convertible Rupee finally closed at 53.93, while the near month USD-INR future settled at 54.08 for the week.

On the International markets front, the Asian markets closed on a mixed note, while the European and the U.S. markets have closed for the week on a strongly positive note. On the energy futures front, the Brent crude oil future has closed up by 1.30% at 104.19 $/bbl, and the WTI crude oil future has closed at 95.61 $/bbl, while the Natural gas future has closed at 4.04 $/MMBtu.

ANXIOUS

The markets were closed today, on account of May day holiday, but the markets opened on an extremely positive note on Tuesday, and after trading on a strong note for the initial two hours, it was a rollercoaster ride for the rest of the session, the markets fell almost vertically and touched their intraday lows within the next two hours and then dramatically recovered from that point onwards, to close near their highest point of the day, till the end of the session. The Nifty and the Sensex closed up by 26 & 117 points respectively. The market breadth however closed on a negative note with 628 advances to 716 declines. On the sectoral front, the Banking sector was the biggest loser, while the FMCG sector was the biggest gainer for the day. On the individual stocks front, Hind Unilever, HCL Tech, M&M, Lupin & Sesa Goa were the top five Nifty gainers, while IDFC, JP Associates, PNB, IndusInd Bank & HDFC were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 877 crores and DIIs were net sellers to the tune of 347 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures to the tune of mere 27 crores and net buyers in Index options to the tune of 1076 crores, while they were net sellers in both Stock futures and Options to the tune of 198 and 83 crores respectively. Nifty future settled at 5929, with 1 point discount to the spot, along with a marginal increase in open interest. On the Options side, PCR stood at 1.35, along with an increase in the India VIX by 5.37%. On the Call options side, the 6200 call added the maximum open interest, followed by the 6100, 6000 & 5900 calls, while the 5700 call lost the maximum open interest. On the Put options side, the 5800 put added the maximum open interest, followed by the 5700, 5600 & 5500 puts, while the 5900 put lost the maximum open interest. The entire activity in the F&O space indicates further addition of long positions on the call options side along with hedging on the Put options side.

On the technical side, Nifty continues to trade in the breakout zone for the fifth consecutive session, and the technical indicators suggest there is a strong upward momentum, and if there everything goes well, i.e. - a positive stance in RBI’s policy, uptick in the IIP nos. the markets are about to scale new highs very soon. The levels to watch out for Nifty will be 5972, 6014 on the upside and 5877, 5824 on the downside. On the currency front the Rupee rose to highest level in two weeks on Tuesday, after a cut in tax on interest payment on debt, to foreigners, raised hopes of more dollar inflows. The partially convertible Rupee finally closed at 53.80, while the near month USD-INR future settled at 53.94 for the day.

On the international markets front, the Asian and the European markets have closed on a mixed note today and the U.S. markets are trading with losses on the back of data, which showed slower growth in payrolls and manufacturing. On the energy futures front, both the Brent and WTI crude oil futures are trading down by 2.53 & 2.78% at 99.81 & 90.89 $/bbl respectively, after the data showed an unexpected rise in U.S. weekly crude oil inventories, while the Natural gas future is trading up by 0.83% at 4.378 $/MMBtu, after a data showed more than expected fall in U.S. weekly Natural Gas inventories.