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EQUITY RESEARCH LAB DERIVATIVE REPORT 04th JULY
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NIFTY FUTURE
Sensex surged 747.20 points or 2.83 to
27,144.91 in the past trading session. while
Nifty rose 239.75 points or 2.96 to 8,328.35
during the week. Markets got a boost after the
Union Cabinet approved a long-awaited pay hike
for its employees, a move which will increase
consumption by putting extra disposable income in
the hands of the central governments 4.7 million
employees. Sentiment was also impacted by a
global relief rally as the immediate impact of
Brexit began to fade. RBI Financial Stability
Report stated that despite global uncertainties,
banking sector issues, the economy stands out in
terms of growth as compared to other emerging
markets and the Indian financial system remains
stable. Markets also cheered Parliamentary
Affairs Minister Venkaiah Naidus statement that
the government will seek to ensure that Goods and
Services Tax (GST) Bill will be passed in the
upcoming session of Parliament, scheduled from
July 18 to August 12. Technical views Nifty
future closed at 8355.15 on Friday. Next logical
targets for nifty would be 8350-8400 and
breaching of 8000 would force nifty to see levels
of 7900. whereas the 8150-8230 will act as very
strong Support levels, if once it go to 8300 then
there will higher probability for nifty to touch
8400-8450 levels.
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NIFTY DAILY CHART
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BANK NIFTY FUTURE
Bank nifty open flat in the morning trading
session on Friday And shown consolidated pattern
over the full trading session. 300-500 point
really will be expected above the level of 17900
in bank nifty future. YES BANK (2.04) and AXIS
BANK (1.762) is the top gainers in bank nifty
future. Technical views Bank nifty Open flat at
18032.00, to its previous closing 18002.60 on
Friday and touched high of 18147.00. Bank nifty
technically trade above the 17900 level .if its
trade above 17900 then new level 18300-18700 will
be expected.
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BANK NIFTY DAILY CHART
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USD/INR
The Indian rupee opened marginally higher at
67.50 per dollar on Friday against previous close
of 67.52. We expect the USD-INR pair to remain
range bound today. The trading range for the
USD-INR is seen between 67.50-67.70/dollar.Pound
is headed for a second weekly drop as traders
mull the political fallout from the brexit vote,
along with signs the Bank Of England may cut
interest rates in the coming months. USDINR
STRATEGY R1 67.43 R2 67.56 Pivot Point 67.37
S1 67.24 S2 67.18
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EUROPEAN MARKET
European markets finished broadly higher on
Friday with shares in London leading the region.
The FTSE 100 is up 1.13 while Germany's DAX is
up 0.99 and France's CAC 40 is up 0.86.
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ASIAN MARKET
Asian markets finished broadly higher on Friday
with share in Hong Kong leading the region. The
Hang Seng is up 1.75 while Japan's Nikkei 225 is
up 0.68 and China's Shanghai Composite is up
0.10.
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FII/DII ACTIVITY
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