Indian benchmark – Nifty ended highly volatile trading session in green zone. After making slightly positive start, index soon slipped in to red zone, as India’s foreign exchange reserves declined $4.6 billion to $596 billion for the week ended June 10. The fall in total reserves was mainly because of a decline in foreign currency assets worth $4.5 billion. Afterwards, market turned volatile, as traders were cautious with a report stating that as many as 428 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.98 lakh crore. However, in afternoon trade, market entered into green territory for little time, as member of the economic advisory council to the prime minister -- Sanjeev Sanyal has said that the country's internal market is in a good position and its macroeconomic stability is in a comfortable zone despite the ravage by the pandemic. He said that there has been an unprecedented crisis during the two-year-long pandemic and the Indian economy has emerged stronger after that. After trading volatile during whole day, market closed the session above 15350 mark.
Traders were seen piling positions in Financial Services, FMCG and IT sector while selling was witnessed in Bank, Auto and Media sector stocks. The top gainers from the F&O segment were Pidilite Industries, Godrej Consumer Products and HDFC. On the other hand, the top losers were GNFC, Vedanta and Bandhan Bank. In the index option segment, maximum OI continues to be seen in the 15900 -16200 calls and 14300 -14650 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 1.51% and reached 22.41. The 50 share Nifty up by 56.65 points or 0.37% to settle at 15,350.15.
Nifty June 2022 futures closed at 15366.00 on Monday, at a premium of 15.85 points over spot closing of 15350.15, while Nifty July 2022 futures ended at 15385.50, at a premium of 35.35 points over spot closing. Nifty June futures saw an addition of 3,347 units, taking the total outstanding open interest (OI) to 2,17,026 units. The near month derivatives contract will expire on June 30, 2022 (Provisional).
From the most active contracts, Reliance Industries June 2022 futures traded at a premium of 0.00 points at 2542.90 (LTP) compared with spot closing of 2542.90. The numbers of contracts traded were 39,404 (Provisional).
Tata Steel June 2022 futures traded at a premium of 1.80 points at 866.80 (LTP) compared with spot closing of 865.00. The numbers of contracts traded were 36,810 (Provisional).
Vedanta June 2022 futures traded at a premium of 1.05 points at 233.30 (LTP) compared with spot closing of 232.25. The numbers of contracts traded were 27,251 (Provisional).
Infosys June 2022 futures traded at a premium of 5.45 points at 1424.00 (LTP) compared with spot closing of 1418.55. The numbers of contracts traded were 24,545 (Provisional).
HDFC Bank June 2022 futures traded at a premium of 0.05 points at 1322.00 (LTP) compared with spot closing of 1321.95. The numbers of contracts traded were 21,251 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with an addition of 5,451 units open interests. Among Nifty puts, 15300 SP from the June month expiry was the most active put with an addition of 2,910 units open interests. The maximum OI outstanding for Calls was at 16000 SP (59,640 units) and that for Puts was at 14500 SP (66,843 units). The respective Support and Resistance levels of Nifty are: Resistance 15,424.73 -- Pivot Point 15,307.92 -- Support -- 15,233.33.
The Nifty Put Call Ratio (PCR) finally stood at (1.04) for June month contract. The top five scrips with highest PCR on Hero Motocorp (1.15), Trent (0.97), ACC (0.94), Indus Tower (0.92) and REC (0.89).
Among most active underlying, Reliance Industries witnessed an addition of 989 units of Open Interest in the June month futures, HDFC Bank witnessed a contraction of 1,014 units of Open Interest in the June month futures contract, Adani Enterprises witnessed an addition of 1,379 units of Open Interest in the June month futures contract, Tata Steel witnessed an addition of 4,267 units of Open Interest in the June month futures contract and ICICI Bank witnessed an addition of 3,160 units of Open Interest in the June month futures contract (Provisional).
