Nifty gave powerful performance by surging a percent on Monday, surpassing its psychological level of 15,300. Market made a positive start after National Statistical Office showed Index of Industrial Production (IIP) grew by 1 per cent in December on a year-on-year (Y-o-Y) basis compared with a 2 per cent decline in the previous month. Market continued its firm trade, as PHDCCI said expectations that the country's GDP would record growth in the third and fourth quarters of 2020-21 are getting stronger on account of various reforms undertaken by the government in the last ten months. Some support also came, as India’s inflation based on wholesale price index (WPI) eased to 2.03% (provisional) for the month of January 2021 as compared to 3.52% during the corresponding month of the previous year. However, sequentially inflation increased from a rise of 1.22% in December 2020. In last leg of trade market touched its intraday high point, as Chief Economic AdviserK V Subramanian said the reform measures announced in the Budget 2021-22 will play a big role in India becoming a $5 trillion economy and beyond.
Most of the sectoral indices ended in green except IT, Media and Metal. The top gainers from the F&O segment were Cholamandalam Investment, Apollo Hospitals Enterprise and LIC Housing Finance. On the other hand, the top losers were Indiabulls Housing Finance, Amara Raja Batteries and SAIL. In the index option segment, maximum OI continues to be seen in the 14100 - 16200 calls and 13,700 - 14,500 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 2.57% and reached 21.48. The 50 share Nifty up by 151.40 points or 1.00% to settle at 15,314.70.
Nifty February 2021 futures closed at 15346.00 (LTP) on Monday, at a premium of 31.30 points over spot closing of 15314.70, while Nifty March 2021 futures ended at 15391.85 (LTP), at a premium of 77.15 points over spot closing. Nifty February futures saw an addition of 1,684 units, taking the total open interest (Contracts) to 1,47,899 units. The near month derivatives contract will expire on February 25, 2021 (Provisional).
From the most active contracts, SBIN February 2021 futures traded at a premium of 1.65 points at 410.35 (LTP) compared with spot closing of 408.70. The numbers of contracts traded were 33,533 (Provisional).
Reliance Industries February 2021 futures traded at a premium of 7.50 points at 2041.30 (LTP) compared with spot closing of 2033.80. The numbers of contracts traded were 32,442 (Provisional).
ICICI Bank February 2021 futures traded at a premium of 1.95 points at 676.50 (LTP) compared with spot closing of 674.55. The numbers of contracts traded were 25,425 (Provisional).
Tata Motors February 2021 futures traded at a premium of 1.10 points at 333.10 (LTP) compared with spot closing of 332.00. The numbers of contracts traded were 20,752 (Provisional).
Axis Bank February 2021 futures traded at a discount of 0.05 points at 796.95 (LTP) compared with spot closing of 797.00. The numbers of contracts traded were 20,579 (Provisional).
Among, Nifty calls, 15500 SP from the February month expiry was the most active call with a contraction of 1,590 units open interests. Among Nifty puts, 15000 SP from the February month expiry was the most active put with an addition of 5,044 units open interests. The maximum OI outstanding for Calls was at 15500 SP (25,865 units) and that for Puts was at 14000 SP (37,679 units). The respective Support and Resistance levels of Nifty are: Resistance 15,355.43 -- Pivot Point 15,299.42 -- Support -- 15,258.68.
The Nifty Put Call Ratio (PCR) finally stood at (1.43) for February month contract. The top five scrips with highest PCR on Axis Bank (1.52), SBIN (1.30), ICICI Bank (1.30), Bajaj Finance (1.10) and Shriram Transport Finance Company (1.08).
Among most active underlying, SBIN witnessed an addition of 2,057 units of Open Interest in the February month futures contract followed by Tata Motors witnessed an addition of 653 units of Open Interest in the February month futures contract, Motherson Sumi Systems witnessed an addition of 411 units of Open Interest in the February month futures contract, ICICI Bank witnessed an addition of 3,497 units of Open Interest in the February month futures contract and Bajaj Finance witnessed an addition of 1,594 units of Open Interest in the February month futures contract (Provisional).
