S&P CNX -- Nifty ended almost flat on Monday. Market made positive start, as outgoing chief economic advisor K V Subramanian said that Indian economy is expected to see a double-digit growth in 2021-22 and between 6.5-7 per cent in the next financial year. He said that he does not expect commodity inflation will taper the V-shaped recovery going forward. Further, market trimmed its gains and turned volatile after Index of Industrial Production (IIP) indicating industrial growth slipped to 3.1 per cent in September, mainly due to the waning low base effect while mining and manufacturing sectors performed well. Market continued its trade with marginal gains till the end, as traders took support with Commerce and Industry Minister Piyush Goyal statement that Indian economy is back in action and it is clear from several indicators such as rising exports and increasing foreign direct investment (FDI) inflows into the country.
Traders were seen piling positions in FMCG, IT and Pharma sector while selling was witnessed in Bank, Auto and Media sector stocks. The top gainers from the F&O segment were Apollo Hospital, Laurus Labs and Metropolis Lab. On the other hand, the top losers were FSL, M&MFIN and Manappuram Finance. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 17200 -17700 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 1.62% and reached 15.47. The 50 share Nifty up by 6.70 points or 0.037% to settle at 18,109.45.
Nifty November 2021 futures closed at 18131.00 (LTP) on Monday, at a premium of 21.55 points over spot closing of 18109.45, while Nifty December 2021 futures ended at 18185.00 (LTP), at a premium of 75.55 points over spot closing. Nifty November futures saw an addition of 2,968 units, taking the total outstanding open interest (Contracts) to 2,04,744 units. The near month derivatives contract will expire on November 25, 2021 (Provisional).
From the most active contracts, Tata Steel November 2021 futures traded at a premium of 1.50 points at 1246.00 (LTP) compared with spot closing of 1244.50. The numbers of contracts traded were 35,303 (Provisional).
Apollo Hospital November 2021 futures traded at a premium of 21.00 points at 5105.00 (LTP) compared with spot closing of 5084.00. The numbers of contracts traded were 25,334 (Provisional).
ITC November 2021 futures traded at a premium of 0.15 points at 238.30 (LTP) compared with spot closing of 238.15. The numbers of contracts traded were 24,117 (Provisional).
TCS November 2021 futures traded at a premium of 3.50 points at 3553.50 (LTP) compared with spot closing of 3550.00. The numbers of contracts traded were 20,340 (Provisional).
Infosys November 2021 futures traded at a discount of 0.05 points at 1784.95 (LTP) compared with spot closing of 1785.00. The numbers of contracts traded were 19,219 (Provisional).
Among, Nifty calls, 18200 SP from the October month expiry was the most active call with an addition of 5,836 units open interests. Among Nifty puts, 18000 SP from the October month expiry was the most active put with a contraction of 7,341 units open interests. The maximum OI outstanding for Calls was at 18500 SP (49,616 units) and that for Puts was at 17500 SP (49,049 units). The respective Support and Resistance levels of Nifty are: Resistance 18,189.30 -- Pivot Point 18,130.30 -- Support -- 18,050.45.
The Nifty Put Call Ratio (PCR) finally stood at (0.99) for October month contract. The top five scrips with highest PCR on Dalmia Bharat (1.19), ACC (0.97), Indigo (0.79), Adani Enterprises (0.76) and Apollo Hospital (0.76).
Among most active underlying, IRCTC witnessed an addition of 7,970 units of Open Interest in the October month futures contract, Tata Steel witnessed an addition of 4,480 units of Open Interest in the October month futures contract, ITC witnessed an addition of 2,763 units of Open Interest in the October month futures contract, Apollo Hospital witnessed an addition of 3,392 units of Open Interest in the October month futures contract and Adani Enterprises witnessed an addition of 905 units of Open Interest in the October month futures contract (Provisional).
