Bulls made spectacular comeback and Nifty ended remarkable day of trade above its crucial 17300 level. Gains across sectors pushed the index higher, with financial, Auto and IT shares being the biggest movers. India VIX was down by 10.29%. Market made positive start with report stated that India and the UAE are likely to sign a free trade agreement (FTA) on February 18, under which both the countries could give duty-free access to a number of products from different sectors. Further, market continued its firm trade with report stated that the outstanding portfolio of the microfinance industry registered a 2 per cent quarter-and-quarter growth to around Rs 2,26,000 crore as of September 2021. The same stood at Rs 2,22,060 crore during the three months ended June 2021. In late afternoon session, huge buying helped market to touch intraday high point with report that India’s merchandise exports rose 25.28 per cent to $34.50 billion in January 2022 as compared to $27.54 Billion in January 2021, on account of healthy performance by sectors such as engineering, petroleum and gems and jewellery. Finally, Nifty ended wonderful day of trade with gains of above three percent.
All the sectoral indices ended in green. The top gainers from the F&O segment were LICHSGFIN , ZEEL and Birlasoft. On the other hand, the top losers were REC, Cipla and Manappuram Finance. In the index option segment, maximum OI continues to be seen in the 17800 -18200 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 decreased by 10.29% and reached 20.61. The 50 share Nifty up by 509.65 points or 3.03% to settle at 17,352.45.
Nifty February 2022 futures closed at 17365.00 (LTP) on Tuesday, at a premium of 12.55 points over spot closing of 17352.45, while Nifty March 2022 futures ended at 17413.05 (LTP), at a premium of 60.60 points over spot closing. Nifty February futures saw an addition of 13,091 units, taking the total outstanding open interest (contracts) to 2,02,597 units. The near month derivatives contract will expire on February 24, 2022 (Provisional).
From the most active contracts, Reliance Industries February 2022 futures traded at a premium of 3.20 points at 2418.30 (LTP) compared with spot closing of 2415.10. The numbers of contracts traded were 41,852 (Provisional).
Tata Steel February 2022 futures traded at a premium of 2.00 points at 1206.95 (LTP) compared with spot closing of 1204.95. The numbers of contracts traded were 40,190 (Provisional).
TCS February 2022 futures traded at a premium of 2.05 points at 3835.00 (LTP) compared with spot closing of 3832.95. The numbers of contracts traded were 29,897 (Provisional).
SBIN February 2022 futures traded at a premium of 1.05 points at 525.05 (LTP) compared with spot closing of 524.00. The numbers of contracts traded were 26,432 (Provisional).
ICICI Bank February 2022 futures traded at a premium of 0.55 points at 775.55 (LTP) compared with spot closing of 775.00. The numbers of contracts traded were 26,302 (Provisional).
Among, Nifty calls, 17400 SP from the February month expiry was the most active call with a contraction of 3,087 units open interests. Among Nifty puts, 17000 SP from the February month expiry was the most active put with an addition of 6,991 units open interests. The maximum OI outstanding for Calls was at 18000 SP (47,666 units) and that for Puts was at 17000 SP (67,152 units). The respective Support and Resistance levels of Nifty are: Resistance 17,538.55 -- Pivot Point 17,188.90 -- Support -- 17,002.80.
The Nifty Put Call Ratio (PCR) finally stood at (1.12) for February month contract. The top five scrips with highest PCR on Escorts (0.97), Vedanta (0.87), Cipla (0.81), Aurobindo Pharma (0.75) and Bank of Baroda (0.73).
Among most active underlying, Tata Motors witnessed an addition of 477 units of Open Interest in the February month futures contract, ICICI Bank witnessed an addition of 3,580 units of Open Interest in the February month futures contract, Reliance Industries witnessed a contraction of 836 units of Open Interest in the February month futures contract, SBIN witnessed an addition of 2,693 units of Open Interest in the February month futures contract and Tata Steel witnessed an addition of 4,007 units of Open Interest in the February month futures contract (provisional).
