Nifty ended Tuesday’s session above 15600 mark. Market made positive start with the southwest monsoon entering Madhya Pradesh, Chhattisgarh, coastal Andhra Pradesh, Odisha, west Bengal, Jharkhand and Bihar on Monday, cumulative rainfall deficiency so far has been reduced to 5% from 25% reported on June 16. The India Meteorological Department (IMD) has predicted an intense spell of rainfall along the west coast in the next five days. Further, market traded higher after the commerce and industry minister Piyush Goyal said that the proposed free trade agreement with the European Union, when implemented, will provide greater market access for several domestic sectors such as textiles, leather and sports goods in the EU market. Index traded strength to strength till the end, as retirement fund body EPFO has added 17.08 lakh net new subscribers in April 2022, nearly 34 per cent more than 12.76 lakh enrolled in the same month a year ago. Traders overlooked a labour bureau statement that retail inflation for farm and rural labourers increased to 6.67 per cent and 7 per cent, respectively in May, mainly due to higher prices of certain food items. Finally, Nifty closed the session with the gains of above one and half a percent.
All the sectoral indices ended in green. The top gainers from the F&O segment were IndiaMART InterMESH, RBL Bank and GNFC. On the other hand, the top losers were Alkem Laboratories, Crompton Greaves Consumer Electricls and Page Industries. In the index option segment, maximum OI continues to be seen in the 15900 -16200 calls and 14900 -15250 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 5.66% and reached 21.14. The 50 share Nifty up by 288.65 points or 1.88% to settle at 15,638.80.
Nifty June 2022 futures closed at 15633.40 (LTP) on Tuesday, at a discount of 5.40 points over spot closing of 15638.80, while Nifty July 2022 futures ended at 15643.80 (LTP), at a premium of 5.00 points over spot closing. Nifty June futures saw an addition of 7,474 units, taking the total open interest (contracts) to 2,11,133 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 discount of 2.25 points at 2579.75 (LTP) compared with spot closing of 2582.00. The numbers of contracts traded were 37,263 (Provisional).
Tata Steel June 2022 futures traded at a premium of 2.25 points at 884.80 (LTP) compared with spot closing of 882.55. The numbers of contracts traded were 37,158 (Provisional).
Vedanta June 2022 futures traded at a premium of 0.70 points at 238.20 (LTP) compared with spot closing of 237.50. The numbers of contracts traded were 32,422 (Provisional).
Infosys June 2022 futures traded at a premium of 2.10 points at 1451.00 (LTP) compared with spot closing of 1448.90. The numbers of contracts traded were 25,518 (Provisional).
TCS June 2022 futures traded at a premium of 2.05 points at 3217.05 (LTP) compared with spot closing of 3215.00. The numbers of contracts traded were 20,275 (Provisional).
Among, Nifty calls, 16000 SP from the June month expiry was the most active call with a contraction of 5,682 units open interests. Among Nifty puts, 15500 SP from the June month expiry was the most active put with an addition of 12,539 units open interests. The maximum OI outstanding for Calls was at 16000 SP (53,354 units) and that for Puts was at 15000 SP (62,595 units). The respective Support and Resistance levels of Nifty are: Resistance 15,401.47 -- Pivot Point 15,292.43 -- Support -- 15,184.47.
The Nifty Put Call Ratio (PCR) finally stood at (1.07) for June month contract. The top five scrips with highest PCR on Hero Motocorp (1.25), REC (1.03), ACC (0.99), Indus Tower (0.96) and Trent (0.96).
Among most active underlying, Reliance Industries witnessed an addition of 2,031 units of Open Interest in the June month futures, ICICI Bank witnessed an addition of 1,938 units of Open Interest in the June month futures contract, HDFC Bank witnessed an addition of 717 units of Open Interest in the June month futures contract, Tata Steel witnessed an addition of 3,283 units of Open Interest in the June month futures contract and Vedanta witnessed an addition of 6,272 units of Open Interest in the June month futures contract (Provisional).
