EQUITY RESEARCH LAB: DERIVATIVE REPORT 7th JAN

STOCK FUTURE TIPS

NIFTY FUTURE :

Sensex slipped 174.01 points to close at 25,406.33, while Nifty dropped 43.65 points to settle at 7,741.00. Nifty fell for third day in a row on Wednesday as sentiment remained weak in the absence of any positive trigger amid weak Asian cues. Not much support came from Nikkei Services Purchasing Managers’ Index (PMI) that touched a ten-month high in December driven by a significant rise in new business orders But the overall health of the economy remains fragile amid a Weak manufacturing sector.

Technical views:

Nifty future closed at 7744.95 on Wednesday below this level nifty future may be touche the new level of 8700-7680.
Pivot point :

 

Nifty Future  R1: 7806 R2: 7862 R3:7900
Pivot:7768    S1: 7712 S2: 7674 S3: 7617

 

BANK NIFTY FUTURE

Bank Nifty closed at 16467.00 on Wednesday with the loss of -112.90 point (-0.74%) . Bank nifty open at 16550 and made a High of 16659.30. Bank nifty showing consolidation movement In the first half of the trading Session . In the second half bank nifty loose its almost 112 point and close at ICICI BANK (-2.57%) and AXIS BANK (-1.32%) is the toplosers in bank nifty future.

Technical views:

Bank nifty closed at 16467.0 on Wednesday . bank nifty may be touch the new level in between 16400-16250. Above the level of 17050 fresh buying may be seen in bank nifty.

Pivot level:USD/ INR: The Indian rupee opened lower by 11 paise at 66.70 per dollar against previous close of 66.59. The rupee traded in a narrow range against the dollar yesterday and erased the gains made in the earlier part of trade due to purchase by the custodial banks. The USD-INR pair will take cues from the equity market and is expected to trade between 66.50-66.65/USD today. The US dollar gained against major world currencies to hit its highest in a month. The euro was weaker near 1.07, its lowest in a month.

 

Bank Nifty Future  R1: 16617 R2: 16779 R3:16900
Pivot: 16496          S1: 16334 S2: 16213 S3: 16050

 

 

 

USDINR STRATEGY     S1 66.55 S2 66.51
Pivot Point 66.69             R1 66.73 R2 66.87

 

EUROPEAN MARKET:

European markets closed on a negative side.
The FTSE 100 fell 1.05%, while the CAC and DAX fell 1.28% and 0.94% respectively

Name                     Change
FTSE 100       6073.38 63.86
CAC               404480.47 57.16
DAX               10214 96

ASIAN MARKET:

Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 2.25%, while the Nikkei 225 led the Hang Seng lower. They fell 0.99% and 0.98% respectively.

Name                   Change     % Chg
Nikkei225           -182.68    -1.00
Straits Times        -29.96      -1.07
Hang Seng           -207.91    -0.99
Taiwan Weighted  -84.72     -1.06
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