Nifty ended the Monday’s session below 17400 mark. Market made negative start, as country’s foreign exchange reserves declined by USD 1.34 billion to USD 641.113 billion in the week ended September 10, 2021, according to RBI data. During the reporting week ended September 10, the fall in the reserves was on account of a decline in Foreign Currency Assets (FCAs), a major component of the overall reserves. However, market trimmed most of its losses to trade above neutral line for little time with Sebi data indicating that investment through participatory notes (P-notes) in the domestic capital market was at Rs 97,744 crore till August-end, and going forward the inflow is expected to remain positive for the rest of the year. However, market once again entered into red zone to end the session near intraday low point. Traders overlooked that Commerce and Industry Minister Piyush Goyal’s statement that Simplification, facilitation and ease of doing business has helped India create more startups. For promoting startups, he said the government is creating future global leaders and wants to become the innovation hub of the world.
Most of the sectoral indices ended in red except FMGC. The top gainers from the F&O segment were INDHOTEL, GMRINFRA and HUL. On the other hand, the top losers were National Aluminium Company, Jindal Steel & Power and Tata Steel. In the index option segment, maximum OI continues to be seen in the 17450 -17600 calls and 16900 -17150 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 17.49% and reached 14.83. The 50 share Nifty down by 188.25 points or 1.07% to settle at 17,396.90.
Nifty September 2021 futures closed at 17355.80 (LTP) on Monday, at a discount of 41.10 points over spot closing of 17396.90, while Nifty October 2021 futures ended at 17394.90 (LTP), at a discount of 2.00 points over spot closing. Nifty September futures saw an addition of 4,814 units, taking the total open interest (OI) to 2,93,812 units. The near month derivatives contract will expire on September 30, 2021(Provisional).
From the most active contracts, Tata Steel September 2021 futures traded at a premium of 2.30 points at 1249.65 (LTP) compared with spot closing of 1247.35. The numbers of contracts traded were 44,313 (Provisional).
ITC September 2021 futures traded at a discount of 0.35 points at 232.60 (LTP) compared with spot closing of 232.95. The numbers of contracts traded were 33,739 (Provisional).
Reliance Industries September 2021 futures traded at a discount of 3.85 points at 2388.00 (LTP) compared with spot closing of 2391.85. The numbers of contracts traded were 32,214 (Provisional).
Kotak Mahindra Bank September 2021 futures traded at a discount of 7.50 points at 1989.00 (LTP) compared with spot closing of 1996.50. The numbers of contracts traded were 25,457(Provisional).
SBIN September 2021 futures traded at a discount of 0.35 points at 436.55 (LTP) compared with spot closing of 436.90. The numbers of contracts traded were 21,137 (Provisional).
Among, Nifty calls, 17500 SP from the September month expiry was the most active call with an addition of 11,871 units open interests. Among Nifty puts, 17400 SP from the September month expiry was the most active put with an addition of 2,577 units open interests. The maximum OI outstanding for Calls was at 17500 SP (40,469 units) and that for Puts was at 17000 SP (64,082 units). The respective Support and Resistance levels of Nifty are: Resistance 17,559.17 -- Pivot Point 17,460.48 -- Support -- 17,298.22.
The Nifty Put Call Ratio (PCR) finally stood at (1.36) for September month contract. The top five scrips with highest PCR on Voltas (0.90), Kotak Mahindra Bank (0.84), IRCTC (0.78), ZEEL (0.77) and Titan Company (0.77).
Among most active underlying, Tata Steel witnessed an addition of 5,533 units of Open Interest in the September month futures contract, ITC witnessed an addition of 1,132 units of Open Interest in the September month futures contract, Kotak Mahindra Bank witnessed an addition of 1,381 units of Open Interest in the September month futures contract, Reliance Industries witnessed a contraction of 828 units of Open Interest in the September month futures contract and Bajaj Finance witnessed an addition of 906 units of Open Interest in the September month futures contract (Provisional).
