Nifty gave powerful performance by ending above 16600 mark on Tuesday. Market made positive start, as Commerce and Industry Minister Piyush Goyal said foreign direct investments into the country is on the rise, jumping to $12.1 billion in May this year. He also said the government is working on a mission mode to achieve exports target of $400 billion in 2021-22. Further, market maintained its gains above neutral line with IT industry body Nasscom’s statement that India has the potential to become the world's second-largest cloud talent hub with the combined effort of government bodies, education and skilling organisations and technology providers. In late afternoon session, market extended its upward rally, as SBI research report Ecowrap said that the country's gross domestic product (GDP) is expected to grow at around 18.5 per cent with an upward bias in the first quarter of the current financial year. Finally, Nifty ended the session with gains of above half a percent.
Most of the sectoral indices ended in green except IT and FMGC. The top gainers from the F&O segment were Bajaj Finserv, National Aluminium Company and NMDC. On the other hand, the top losers were Jubilant FoodWorks, Astral and Dabur India. In the index option segment, maximum OI continues to be seen in the 16650 -16800 calls and 16400 -16600 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 3.63% and reached 13.19. The 50 share Nifty up by 128.15 points or 0.78% to settle at 16,624.60.
Nifty August 2021 futures closed at 16616.00 (LTP) on Tuesday, at a discount of 8.60 points over spot closing of 16624.60, while Nifty September 2021 futures ended at 16650.00 (LTP), at a premium of 25.40 points over spot closing. Nifty August futures saw a contraction of 3,505 units, taking the total open interest (Contracts) to 1,88,984 units. The near month derivatives contract will expire on August 26, 2021(Provisional).
From the most active contracts, Reliance Industries August 2021 futures traded at a premium of 0.00 points at 2178.00 (LTP) compared with spot closing of 2178.00. The numbers of contracts traded were 48,732 (Provisional).
Vedanta August 2021 futures traded at a discount of 0.45 points at 286.50 (LTP) compared with spot closing of 286.95. The numbers of contracts traded were 38,322 (Provisional).
Tata Steel August 2021 futures traded at a discount of 2.90 points at 1404.25 (LTP) compared with spot closing of 1407.15. The numbers of contracts traded were 32,940 (Provisional).
SBIN August 2021 futures traded at a premium of 0.90 points at 417.95 (LTP) compared with spot closing of 417.05. The numbers of contracts traded were 27,800 (Provisional).
Bajaj Finance August 2021 futures traded at a premium of 8.85 points at 6988.85 (LTP) compared with spot closing of 6980.00. The numbers of contracts traded were 27,597 (Provisional).
Among, Nifty calls, 16650 SP from the August month expiry was the most active call with an addition of 4,779 units open interests. Among Nifty puts, 16500 SP from the August month expiry was the most active put with an addition of 53,444 units open interests. The maximum OI outstanding for Calls was at 17000 SP (92,171 units) and that for Puts was at 16500 SP (1,41,671 units). The respective Support and Resistance levels of Nifty are: Resistance 16,682.70 -- Pivot Point 16,589.00 -- Support -- 16,530.90.
The Nifty Put Call Ratio (PCR) finally stood at (1.30) for August month contract. The top five scrips with highest PCR on Bajaj Finserv (1.18), Tech Mahindra (1.09), Bajaj Finance (0.99), HUL (0.98) and TCS (0.97).
Among most active underlying, Tata Steel witnessed a contraction of 130 units of Open Interest in the August month futures contract, Vedanta witnessed a contraction of 2,641 units of Open Interest in the August month futures contract, Reliance Industries witnessed an addition of 4,326 units of Open Interest in the August month futures contract, Bajaj Finance witnessed an addition of 1,904 units of Open Interest in the August month futures contract and Bajaj Finserv witnessed an addition of 1,614 units of Open Interest in the August month futures contract (Provisional).
