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Morning Insight

Research report help you to get basis with key information that can shape the markets.

Derivatives Daily
Market Wrap16-04-2021

  • Indian shares rose notably on Thursday after a late-hour buying spree following positive cues from Europe. The upside was capped as the Maharashtra government has announced severe, curfew-like restrictions on public movement and data showed India's WPI inflation soared to an 8-year high of 7.39 percent in March on the back of rising fuel and food prices. index swung more than 240 points before settling at 14,581.45, up 76.65 points, from its previous close.
  • Index formed hammer patter after bullish harami pattern on the daily chart. Which indicates a bulls are aggressive now and trying to take charge of the market. Furthermore, on RSI we observed support pull back from its support level which gives confirmation about the positivity. However, the market is still trading below its 50 days EMA which can consider as a good resistance level so we might see further upside only if it sustain above this level.
  • Nifty Put O I addition was seen at 14000 followed by 14500 which can act as short term support.
  • Nifty Call O I addition was seen at 15000 followed by 14700. which can act as short term resistance.
  • Nifty Bank Put O I addition was seen at 31000 followed by 32000 which can act as short term support.
  • Nifty Bank Call O I addition was seen at 33000 followed by 34000 which can act as short term resistance.

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Derivatives Daily
Market Wrap15-04-2021

  • Indian shares rebounded on Tuesday after a bruising coronavirus-led tumble in the previous session on concerns that a severe second wave of the novel coronavirus could dent the country's nascent economic recovery. Banking, auto, and metal stocks surged after the Indian regulatory approved Russia's Sputnik V COVID-19 vaccine and private weather forecaster Skymet said the upcoming monsoon season will see normal rainfall.
  • The Nifty index ended up with 194 points, at 14,504.80. Index bounce back after taking support of the lower band of the channel and formed bullish harami pattern on the daily chart. Which indicates a bullish reversal signal. Moreover, on RSI we observed that RSI test its support of 40 and started moving on a positive side. However, the market is still in bearish control so further confirmation about bullish charge index has to sustain above 50 days EMA which is 14650.
  • Nifty Put O I addition was seen at 14000 followed by 14400 which can act as short term support.
  • Nifty Call O I reduction was seen at 14600 followed by 14500.
  • Nifty Bank Put O I addition was seen at 30000 followed by 31000 which can act as short term support.
  • Nifty Bank Call O I reduction was seen at 31500 followed by 31000. 

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Derivatives Daily
Market Wrap13-04-2021

  • Indian shares succumbed to heavy selling pressure on Monday as spoking Covid-19 cases in the country and fears over fresh lockdowns in some states dented hopes for a swift economic recovery from the pandemic. India has recorded a massive surge of 169,899 Covid-19 cases and 904 deaths in the last 24 hours, breaking all records and overtaking Brazil to become the second-most affected country globally by the novel coronavirus. Maharashtra remains the worst-affected state with as many as 63,294 new cases, 34,008 recoveries and 349 deaths in the last 24 hours. Global brokerage company Nomura has cut India's GDP forecast to 12.6 percent from 13.5 percent forecast earlier, reflecting the pandemic drag on the economy. Nifty index plunged 524.05 points, to 14,310.80.
  • Nifty open with the negative note and observed selling pressure continued in whole session which result in Bearish Marubozu on the daily cht. However 50 days EMA which was strong support of the index is now working as a resistance level. Index is trading in downward trading channel where it again test its lower band in previous session. As well as on RSI it reached near support level of 40. So, if nifty breach this support than we might see another round of selling in the market.
  • Nifty Put O I Reduction was seen at 14800 followed by 14500.
  • Nifty Call O I addition was seen at 14500 followed by 14600. which can act as short term resistance.
  • Nifty Bank Put O I Reduction was seen at 32500 followed by 32000.
  • Nifty Bank Call O I addition was seen at 31000 followed by 32000 which can act as short term resistance. 

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