Nifty witnessed drastic fall on Monday and ended the day’s trade with the cut of above one and half a percent. India VIX was up by 4.11%. Market made negative start, as Reserve Bank of India (RBI) data showed that the country’s foreign exchange reserves fell $2.238 billion to $570.74 billion in the week ended August 12. Further, Index extended its losses with External Affairs Minister S Jaishankar’s statement that India faces a challenge to ensure that its economic interests are well protected and its consumers are shielded to the extent possible from the enormous jump in the oil prices in the wake of the Ukraine conflict. Market continued its weak trade but in late afternoon session its added more losses to touch intraday low point amid reports that with the price situation remaining at 'unacceptably and uncomfortably' high level, members of the RBI's Monetary Policy Committee underlined the need for preventing upward drift of inflation and bringing it down to the target band, as per minutes of its recent policy meeting. Finally, Nifty closed the session below 17500 mark.
All the sectoral indices ended in red. The top gainers from the F&O segment were Dr. Lal PathLabs, SUN TV and P I Industries. On the other hand, the top losers were Jubilant FoodWorks, Trent and HPCL. In the index option segment, maximum OI continues to be seen in the 17900 -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 increased by 4.11% and reached 19.04. The 50 share Nifty down by 127.60 points or 1.51% to settle at 17,490.70.
Nifty August 2022 futures closed at 17499.00 (LTP) on Monday, at a premium of 8.30 points over spot closing of 17490.70, while Nifty September 2022 futures ended at 17584.05 (LTP), at a premium of 93.35 points over spot closing. Nifty August futures saw a contraction of 14,140 units, taking the total open interest (contracts) to 1,98,402 units. The near month derivatives contract will expire on August 25, 2022 (Provisional).
From the most active contracts, Adani Ports August 2022 futures traded at a premium of 0.75 points at 840.75 (LTP) compared with spot closing of 840.00. The numbers of contracts traded were 51,091 (Provisional).
HDFC Bank August 2022 futures traded at a premium of 3.00 points at 1471.70 (LTP) compared with spot closing of 1468.70. The numbers of contracts traded were 37,519 (Provisional).
Reliance Industries August 2022 futures traded at a premium of 4.30 points at 2606.80 (LTP) compared with spot closing of 2602.50. The numbers of contracts traded were 35,075 (Provisional).
Infosys August 2022 futures traded at a discount of 2.15 points at 1574.85 (LTP) compared with spot closing of 1577.00. The numbers of contracts traded were 34,196 (Provisional).
Bharti Airtel August 2022 futures traded at a discount of 3.55 points at 725.90 (LTP) compared with spot closing of 729.45. The numbers of contracts traded were 23,252 (Provisional).
Among, Nifty calls, 17600 SP from the August month expiry was the most active call with an addition of 1,36,430 units open interests. Among Nifty puts, 17500 SP from the August month expiry was the most active put with an addition of 14,420 units open interests. The maximum OI outstanding for Calls was at 18000 SP (2,68,752 units) and that for Puts was at 17000 SP (1,24,776 units). The respective Support and Resistance levels of Nifty are: Resistance 17,631.38 -- Pivot Point 17,549.37 -- Support -- 17,408.68.
The Nifty Put Call Ratio (PCR) finally stood at (0.60) for August month contract. The top five scrips with highest PCR on Eicher Motors (1.40), Lupin (1.26), HPCL (1.07), Asian Paints (0.96) and Indraprastha Gas (0.92).
Among most active underlying, Adani Ports witnessed a contraction of 4,320 units of Open Interest in the August month futures, Adani Enterprises witnessed a contraction of 362 units of Open Interest in the August month futures, HDFC Bank witnessed a contraction of 5,919 units of Open Interest in the August month futures, ICICI Bank witnessed a contraction of 1,782 units of Open Interest in the August month futures and Reliance Industries witnessed an addition of 803 units of Open Interest in the August month futures (Provisional).
