Nifty ends day’s trade near intraday low point on Tuesday as investors booked profits in banking and financial stocks. After making cautious start, index slipped into red territory, as government data showed that India’s trade deficit rose 87.5 percent to $192.41 billion in 2021-22 as against $ 102.63 billion in the previous year. Further, market extended its losses, as petrol and diesel prices have been hiked by 80 paise a litre each on April 05, taking the total increase in the last two weeks to Rs 9.20 per litre. However, in late afternoon session, market erased its losses to trade in green for little time. But market failed to protect gains and again drifted into negative zone amid a private report stating that Indian manufacturers are running out of capacity to absorb rising input costs, with an increasing number passing it along to consumers in an economy already grappling with Asia’s third-fastest inflation and an uneven recovery. Finally, Nifty finished the session below 18000 mark.
Most of the sectoral indices ended in green except Bank, Media and Realty. The top gainers from the F&O segment were Tata Power, Metropolis Healthcare and Polycab India. On the other hand, the top losers were HDFC Bank, Federal Bank and SBI Card. In the index option segment, maximum OI continues to be seen in the 17900 -18150 calls and 17400 -17600 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 3.23% and reached 18.49. The 50 share Nifty down by 96.00 points or 0.53% to settle at 17,957.40.
Nifty April 2022 futures closed at 17996.35 (LTP) on Tuesday, at a premium of 38.95 points over spot closing of 17957.40, while Nifty May 2022 futures ended at 18038.60 (LTP), at a premium of 81.20 points over spot closing. Nifty April futures saw an addition of 7,816 units, taking the total open interest (contracts) to 2,31,780 units. The near month derivatives contract will expire on April 28, 2022 (Provisional).
From the most active contracts, HDFC Bank April 2022 futures traded at a premium of 0.55 points at 1605.50 (LTP) compared with spot closing of 1604.95. The numbers of contracts traded were 36,237 (Provisional).
Adani Ports April 2022 futures traded at a premium of 1.50 points at 845.55 (LTP) compared with spot closing of 844.05. The numbers of contracts traded were 28,243 (Provisional).
Tata Steel April 2022 futures traded at a premium of 5.95 points at 1349.95 (LTP) compared with spot closing of 1344.00. The numbers of contracts traded were 26,953 (Provisional).
Infosys April 2022 futures traded at a premium of 8.05 points at 1868.55 (LTP) compared with spot closing of 1860.50. The numbers of contracts traded were 26,262 (Provisional).
Reliance Industries April 2022 futures traded at a premium of 15.75 points at 2641.75 (LTP) compared with spot closing of 2626.00. The numbers of contracts traded were 25,931 (Provisional).
Among, Nifty calls, 18000 SP from the April month expiry was the most active call with an addition of 2,325 units open interests. Among Nifty puts, 17500 SP from the April month expiry was the most active put with an addition of 7,510 units open interests. The maximum OI outstanding for Calls was at 19000 SP (38,945 units) and that for Puts was at 17500 SP (49,425 units). The respective Support and Resistance levels of Nifty are: Resistance 18,061.38 -- Pivot Point 17,991.47 -- Support -- 17,887.48.
The Nifty Put Call Ratio (PCR) finally stood at (1.48) for April month contract. The top five scrips with highest PCR on Power Grid (0.96), Adani Enterprises (0.88), Nestle India (0.87), Axis Bank (0.83) and Hero Motocorp (0.79).
Among most active underlying, Tata Power witnessed an addition of 1,082 units of Open Interest in the April month futures contract, HDFC Bank witnessed an addition of 438 units of Open Interest in the April month futures contract, Adani Ports witnessed an addition of 2,452 units of Open Interest in the April month futures contract Adani Enterprise witnessed an addition of 1,103 units of Open Interest in the April month futures contract and Tata Motors witnessed a contraction of 286 units of Open Interest in the April month futures contract (Provisional).
