Nifty failed to continue its gaining rally on Friday and ended the session below 17050 mark. Except Nifty IT all other sectors are ended in red. Market made slightly positive start and soon entered into red zone, as the Federation of Indian Export Organisations (FIEO) said India’s exports growth may slow to 15-17.5% in FY23 but containment of Covid-19 through massive vaccination across the globe and creation of required capacity will be the decisive factors. Market extended its losses to touch intraday low-point, despite private report stated that India can generate $813 billion in revenue creating 152 million jobs, making it the largest private sector industry in the country. With agriculture continuing to remain the mainstay of economy for the country, investment in agritech and allied segments can transform the face of Indian agriculture with far-reaching implications for food security and sustainable farming solutions. In late afternoon session, market trimmed most of its losses but traded below neutral line. Finally, Nifty finished the session in red zone.
All the sectoral indices ended in red except IT. The top gainers from the F&O segment were Firstsource Solutions, Coforge and HCL Tech. On the other hand, the top losers were Torrent Pharmaceuticals, Biocon and L&TFH. In the index option segment, maximum OI continues to be seen in the 17900 -18150 calls and 16900 -17050 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 2.03% and reached 16.15. The 50 share Nifty down by 68.85 points or 0.40% to settle at 17,003.75.
Nifty December 2021 futures closed at 17002.95 (LTP) on Friday, at a discount of 0.80 points over spot closing of 17003.75, while Nifty January 2022 futures ended at 17052.00 (LTP), at a premium of 48.25 points over spot closing. Nifty December futures saw an addition of 245 units, taking the total outstanding open interest (OI) to 1,95,291 units. The near month derivatives contract will expire on December 30, 2021 (Provisional).
From the most active contracts, Reliance Industries December 2021 futures traded at a premium of 2.75 points at 2369.90 (LTP) compared with spot closing of 2367.15. The numbers of contracts traded were 34,096 (Provisional).
HCL Tech December 2021 futures traded at a premium of 1.55 points at 1264.15 (LTP) compared with spot closing of 1262.60. The numbers of contracts traded were 21,441 (Provisional).
Infosys December 2021 futures traded at a premium of 0.85 points at 1864.25 (LTP) compared with spot closing of 1863.40. The numbers of contracts traded were 18,792 (Provisional).
TCS December 2021 futures traded at a premium of 8.45 points at 3679.45 (LTP) compared with spot closing of 3671.00. The numbers of contracts traded were 17,845 (Provisional).
ICICI Bank December 2021 futures traded at a premium of 1.30 points at 729.30 (LTP) compared with spot closing of 728.00. The numbers of contracts traded were 17,313 (Provisional).
Among, Nifty calls, 17100 SP from the December month expiry was the most active call with an addition of 26,784 units open interests. Among Nifty puts, 17000 SP from the December month expiry was the most active put with an addition of 5,359 units open interests. The maximum OI outstanding for Calls was at 18000 SP (1,46,369 units) and that for Puts was at 17000 SP (1,19,560 units). The respective Support and Resistance levels of Nifty are: Resistance 17,136.37 -- Pivot Point 17,022.98 -- Support -- 16,890.37.
The Nifty Put Call Ratio (PCR) finally stood at (0.88) for December month contract. The top five scrips with highest PCR on Escorts (1.14), Asian Paints (0.99), Tech Mahindra (0.92), Infosys (0.91) and Wipro (0.89).
Among most active underlying, Reliance Industries witnessed an addition of 2,312 units of Open Interest in the December month futures contract, HCL Tech witnessed an addition of 1,914 units of Open Interest in the December month futures contract, ICICI Bank witnessed an addition of 602 units of Open Interest in the December month futures contract, Grasim Industries witnessed an addition of 138 units of Open Interest in the December month futures contract and Tata Motors witnessed an addition of 34 units of Open Interest in the December month futures contract (Provisional).
