Nifty gave powerful performance by surging over a percent on Tuesday, surpassing its psychological level of 15,100. Market made gap- up opening, as RBI data showing that India Inc's foreign investment in the first month of this current fiscal jumped by more than two-times year-on-year to $2.51 billion. Traders ignored Moody's Investors Service said if the second wave of the pandemic does not decline to more manageable levels and results in a prolonged and wider lockdown, it will have a more severe effect on companies' earnings recovery. Index continued the gaining monument till the end of the session, as the Union health ministry said that more than two crore COVID-19 vaccine doses are still available with the states and Union territories, while nearly three lakh doses are in the pipeline and will be received by them within the next three days. Some support also came, as the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) member Ashima Goyal is expecting India's economy to do well once vaccination reaches a critical mass as pent up demand, global recovery and easy financial conditions will boost activities.
Most of the sectoral indices ended in green except FMGC, PSU Bank and Pharma. The top gainers from the F&O segment were CONCOR, Ashok Leyland and M&M. On the other hand, the top losers were Godrej Consumer Products, Bharti Airtel and Canara Bank. In the index option segment, maximum OI continues to be seen in the 15300- 16500 calls and 13,600- 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 1.87% and reached 19.24. The 50 share Nifty up by 184.95 points or 1.24% to settle at 15,108.10.
Nifty May 2021 futures closed at 15151.00 (LTP) on Tuesday, at a premium of 42.90 points over spot closing of 15108.10, while Nifty June 2021 futures ended at 15172.60 (LTP), at a premium of 64.50 points over spot closing. Nifty May futures saw an addition of 184 units, taking the total open interest (Contracts) to 1,51,026 units. The near month derivatives contract will expire on May 27, 2021 (Provisional).
From the most active contracts, SBIN May 2021 futures traded at a premium of 1.20 points at 384.15 (LTP) compared with spot closing of 382.95. The numbers of contracts traded were 43,941 (Provisional).
Reliance Industries May 2021 futures traded at a premium of 7.45 points at 1993.45 (LTP) compared with spot closing of 1986.00. The numbers of contracts traded were 38,649 (Provisional).
Tata Steel May 2021 futures traded at a premium of 3.40 points at 1182.85 (LTP) compared with spot closing of 1179.45. The numbers of contracts traded were 32,149 (Provisional).
Tata Motors May 2021 futures traded at a premium of 1.40 points at 333.40 (LTP) compared with spot closing of 332.00. The numbers of contracts traded were 31,916 (Provisional).
Axis Bank May 2021 futures traded at a premium of 0.70 points at 713.00 (LTP) compared with spot closing of 712.30. The numbers of contracts traded were 31,794 (Provisional).
Among, Nifty calls, 15500 SP from the May month expiry was the most active call with a contraction of 2,058 units open interests. Among Nifty puts, 15000 SP from the May month expiry was the most active put with an addition of 9,786 units open interests. The maximum OI outstanding for Calls was at 15500 SP (25,598 units) and that for Puts was at 14000 SP (58,103 units). The respective Support and Resistance levels of Nifty are: Resistance 15,149.00 -- Pivot Point 15,096.35 -- Support -- 15,055.45.
The Nifty Put Call Ratio (PCR) finally stood at (1.51) for May month contract. The top five scrips with highest PCR on Mphasis (1.95), Asian Paints (1.02), PVR (1.00), Indusind Bank (0.97) and Titan Company (0.97).
Among most active underlying, Tata Steel witnessed an addition of 716 units of Open Interest in the May month futures contract, Tata Motors witnessed an addition of 1,298 units of Open Interest in the May month futures contract, Bharti Airtel witnessed an addition of 5,503 units of Open Interest in the May month futures contract, Axis Bank witnessed an addition of 4,155 units of Open Interest in the May month futures contract and SBIN witnessed a contraction of 454 units of Open Interest in the May month futures contract (Provisional).
