Bulls held its control throughout the day’s trade on Friday and finished the trade with gains of over a percent. Market made a soft opening with positive bias after Prime Minister Narendra Modi wooed global investors by showcasing the recent agriculture and labour reforms and faster-than-anticipated reflation of the economy and asserted that the government will do whatever it takes to make India the engine of global growth resurgence. Market maintained its gains, as RBI said it will continue to conduct open market operation (OMO) purchase auctions of Rs 20,000 crore, as well as OMOs in State Development Loans (SDLs) to support market sentiment and assure adequate liquidity. Further, index extended upside to touch intraday high point, as Reserve Bank of India (RBI) has come out with a Co-Lending Model (CLM) scheme under which banks can provide loans along with NBFCs to priority sector borrowers based on a prior agreement, in order to improve the flow of credit to the unserved and underserved sector of the economy. Finally, Nifty ended the day’s trade near intraday high point.
Most of the sectoral indices ended in green except Pharma. The top gainers from the F&O segment were Indiabulls Housing Finance, Godrej Properties and Motherson Sumi Systems. On the other hand, the top losers were Container Corporation of India, Ambuja Cements and Bosch. In the index option segment, maximum OI continues to be seen in the 12300 - 12,700 calls and 10,900 - 11,800 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 2.22% and reached 20.50.The 50 share Nifty up by 143.25 points or 1.18% to settle at 12,263.55.
Nifty November 2020 futures closed at 12262.25 (LTP) on Friday, at a discount of 1.30 points over spot closing of 12263.55, while Nifty December 2020 futures ended at 12278.50(LTP), at a premium of 14.95 points over spot closing. Nifty November futures saw an addition of 8,033 units, taking the total open interest (Contracts) to1,58,756. The near month derivatives contract will expire on November 26, 2020 (Provisional).
From the most active contracts, Reliance Industries November 2020 futures traded at a premium of 0.60 points at 2025.75 (LTP) compared with spot closing of 2025.15. The numbers of contracts traded were 75,321 (Provisional).
ICICI Bank November 2020 futures traded at a premium of 0.80 points at 444.20 (LTP) compared with spot closing of 443.40. The numbers of contracts traded were 28,902 (Provisional).
SBIN November 2020 futures traded at a premium of 0.25 points at 218.45 (LTP) compared with spot closing of 218.20. The numbers of contracts traded were 27,845 (Provisional).
Indusind Bank November 2020 futures traded at a premium of 0.45 points at 738.25 (LTP) compared with spot closing of 737.80. The numbers of contracts traded were 25,239 (Provisional).
HDFC Bank November 2020 futures traded at a discount of 4.50 points at 1303.50 (LTP) compared with spot closing of 1308.00. The numbers of contracts traded were 25,164 (Provisional).
Among, Nifty calls, 12500 SP from the November month expiry was the most active call with an addition of 1,558 units open interests. Among Nifty puts, 12000 SP from the November month expiry was the most active put with an addition of 9,727 units open interests. The maximum OI outstanding for Calls was at 12500 SP (22,929 units) and that for Puts was at 11000 SP (35,294 units). The respective Support and Resistance levels of Nifty are: Resistance 12,318.68 -- Pivot Point 12,225.27 -- Support -- 12,170.13.
The Nifty Put Call Ratio (PCR) finally stood at (1.54) for November month contract. The top five scrips with highest PCR on Bajaj Finance (1.34), Indusind Bank (1.33), Kotak Mahindra Bank (1.31), Havells (1.13) and ICICI Lombard General Insurance (1.13).
Among most active underlying, Reliance Industries witnessed an addition of 1,354 units of Open Interest in the November month futures contract followed by Bajaj Finance witnessed an addition of 1,017 units of Open Interest in the November month futures contract, SBIN witnessed an addition of 836 units of Open Interest in the November month futures contract, HDFC Bank witnessed an addition of 5,019 units of Open Interest in the November month futures contract and ICICI Bank witnessed an addition of 2,026 units of Open Interest in the November month futures contract (Provisional).
