After previous session’s bloodbath, bulls retaliate back with healthy gains on Nifty, as U.S. President Joe Biden hit back at Russia with harsh sanctions after it attacked Ukraine. India VIX was down by 16.39%. Mid-and small-cap shares were trading on a positive note as Nifty Midcap 100 index moved 4.18% up and small-cap 100 shares rose 4.84%. On Nifty, the overall market breadth stood strong as 47 shares advanced while 3 declined. Market made positive start with report that Moody’s Investors Service upgraded its financial year 2022-2023 (FY23) growth forecast for the Indian economy to 8.4 per cent from the earlier estimated 7.9 per cent as the country moves to normalcy, post the removal Covid-19 restrictions. Further, market extended its gains, as Chief Economic Advisor (CEA) V Anantha Nageswaran said that the Indian economy is now poised for recovery but high crude oil price is a cause for concern. He said the banking sector in the country is stable, capital is available and credit offtake is poised to take off. Further, market maintained its upward momentum till the end, after RBI data showed that bank credit grew by 7.86 per cent to Rs 115.45 lakh crore and deposits rose by 9.11 per cent to Rs 161.28 lakh crore in the fortnight ended February 11. Finally, Nifty finished the energetic day of trade with the gains of above two and half percent.
All the sectoral indices ended in green. The top gainers from the F&O segment were NBCC, PNB and RAIN. On the other hand, the top losers were Dr. Lal PathLabs, Hindustan Petroleum Corporation and PFC. In the index option segment, maximum OI continues to be seen in the 16900 -17100 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 16.39% and reached 26.74. The 50 share Nifty up by 410.45 points or 2.53% to settle at 16,658.40.
Nifty March 2022 futures closed at 16667.00 (LTP) on Friday, at a premium of 8.60 points over spot closing of 16658.40, while Nifty April 2022 futures ended at 16718.85 (LTP), at a premium of 60.45 points over spot closing. Nifty March futures saw an addition of 4,164 units, taking the total outstanding open interest (contracts) to 2,24,960 units. The near month derivatives contract will expire on March 31, 2022 (Provisional).
From the most active contracts, Infosys March 2022 futures traded at a premium of 1.00 points at 1697.00 (LTP) compared with spot closing of 1696.00. The numbers of contracts traded were 38,939 (Provisional).
Reliance Industries March 2022 futures traded at a premium of 4.00 points at 2287.00 (LTP) compared with spot closing of 2283.00. The numbers of contracts traded were 32,786 (Provisional).
Tata Steel March 2022 futures traded at a discount of 1.75 points at 1143.20 (LTP) compared with spot closing of 1144.95. The numbers of contracts traded were 25,623 (Provisional).
TCS March 2022 futures traded at a premium of 4.20 points at 3529.20 (LTP) compared with spot closing of 3525.00. The numbers of contracts traded were 23,580 (Provisional).
Tata Motors March 2022 futures traded at a premium of 0.25 points at 461.10 (LTP) compared with spot closing of 460.85. The numbers of contracts traded were 21,300 (Provisional).
Among, Nifty calls, 17000 SP from the March month expiry was the most active call with an addition of 3,806 units open interests. Among Nifty puts, 16500 SP from the March month expiry was the most active put with an addition of 4,849 units open interests. The maximum OI outstanding for Calls was at 17000 SP (37,852 units) and that for Puts was at 16500 SP (1,01,038 units). The respective Support and Resistance levels of Nifty are: Resistance 16,778.70 -- Pivot Point 16,628.50 -- Support -- 16,508.20.
The Nifty Put Call Ratio (PCR) finally stood at (1.91) for March month contract. The top five scrips with highest PCR on JK Cements (21.00), Hindustan Aeronautics (1.99), Intellect Design Arena (1.41), Ramco Cements (1.06) and RBL Bank (1.06).
Among most active underlying, Tata Motors witnessed a contraction of 827 units of Open Interest in the March month futures contract, ICICI Bank witnessed an addition of 1,173 units of Open Interest in the March month futures contract, Infosys witnessed an addition of 5,684 units of Open Interest in the March month futures contract, Reliance Industries witnessed an addition of 5,816 units of Open Interest in the March month futures contract and Tata Power witnessed a contraction of 618 units of Open Interest in the March month futures contract (Provisional).
