After two days fall, S&P CNX Nifty ended the Friday’s trade with the gains above a percent. Market made strong start, as part of furthering the ease of doing business in the country, the government is set to introduce a single-window clearance mechanism for investors by mid-April in order to attract greater foreign investment. The single-window portal will integrate the existing clearance systems of various central and state departments. Market maintained its gains in green zone, as traders found support with CARE Ratings’ report that Indian economy will grow in the range of 11-11.2 per cent in the coming financial year. It said the high Gross Domestic Product (GDP) growth in FY22 will be on the back of low base effect in FY21 and broad-based recovery across the economy.
Further, Index extended its gains to touched intraday high point, as International Monetary Fund (IMF) stated that India's economy is on the path of gradual recovery, real GDP growth, return to positive territory in fourth quarter of 2020. And that's for the first time actually since the start of the pandemic and it's supported by a pickup in gross, fixed capital formation. Finally, Nifty finished the session above 14500 level, as Reserve Bank of India (RBI) Governor Shaktikanta Das expressed confidence that the second wave of Covid infections will not derail India’s economic journey.
All the sectoral indices ended in green. The top gainers from the F&O segment were CONCOR, SAIL and Tata Steel. On the other hand, the top losers were PVR, Mphasis and Indigo. In the index option segment, maximum OI continues to be seen in the 14700 - 16700 calls and 13,900 - 14,600 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short term expectation of volatility decreased by 9.02% and reached 20.65. The 50 share Nifty up by 182.40 points or 1.27% to settle at 14,507.30.
Nifty April 2021 futures closed at 14629.85 (LTP) on Friday, at a premium of 122.55 points over spot closing of 14507.30, while Nifty May 2021 futures ended at 14673.00 (LTP), at a premium of 165.70 points over spot closing. Nifty April futures saw an addition of 4,052 units, taking the total open interest (Contracts) to 1,23,155 units. The near month derivatives contract will expire on April 29, 2021 (Provisional).
From the most active contracts, Reliance Industries April 2021 futures traded at a premium of 16.65 points at 2010.60 (LTP) compared with spot closing of 1993.95. The numbers of contracts traded were 34,298 (Provisional).
Tata Steel April 2021 futures traded at a premium of 4.70 points at 770.45 (LTP) compared with spot closing of 765.75. The numbers of contracts traded were 26,775 (Provisional).
ICICI Bank April 2021 futures traded at a premium of 4.70 points at 585.10 (LTP) compared with spot closing of 580.40. The numbers of contracts traded were 19,609 (Provisional).
SBIN April 2021 futures traded at a premium of 3.15 points at 361.85 (LTP) compared with spot closing of 358.70. The numbers of contracts traded were 18,666 (Provisional).
TCS April 2021 futures traded at a premium of 24.85 points at 3093.15 (LTP) compared with spot closing of 3068.30. The numbers of contracts traded were 15,933 (Provisional).
Among, Nifty calls, 15000 SP from the April month expiry was the most active call with a contraction of 1,318 units open interests. Among Nifty puts, 14000 SP from the April month expiry was the most active put with an addition of 421units open interests. The maximum OI outstanding for Calls was at 15000 SP (27,634 units) and that for Puts was at 14000 SP (42,909 units). The respective Support and Resistance levels of Nifty are: Resistance 14,582.05 -- Pivot Point 14,498.15 -- Support -- 14,423.40.
The Nifty Put Call Ratio (PCR) finally stood at (1.56) for April month contract. The top five scrips with highest PCR on L&T Technology Services (2.65), BOSCH (2.46), PVR (1.54), SBI Life (1.30) and Muthoot Finance (1.16).
Among most active underlying, Tata Steel witnessed an addition of 2,482 units of Open Interest in the April month futures contract followed Tata Motors witnessed an addition of 466 units of Open Interest in the April month futures contract, SBIN witnessed an addition of 452 units of Open Interest in the April month futures contract, Reliance Industries witnessed an addition of 4,224 units of Open Interest in the April month futures contract and ICICI Bank witnessed an addition of 628 units of Open Interest in the April month futures contract (Provisional).
