Nifty ended Monday’s session lower with settling below the psychological 17250 levels. India VIX was up by 4.30%. Market made negative start after Reserve Bank of India's (RBI) weekly statistical supplement showed that India's foreign exchange reserves fell to $532.66 billion in the week through Sept. 30, their lowest level since July 2020. Further, index continued its downward trade even after Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said that India will perhaps emerge as the strongest major economy with 7 per cent growth rate in FY23, amid fears of the world slipping into recession. However, market trimmed most of its losses in afternoon trade with Central Board of Direct Taxes’ (CBDT) statement that gross collection of tax on corporate and individual earnings jumped nearly 24 percent so far in the current fiscal year that started on April 1, 2022. But market unable to erase all losses and finally ended the session in red territory, as Indian rupee continued to depreciate against the US dollar due to elevated crude oil prices.
All the sectoral indices ended in red. The top gainers from the F&O segment were Axis Bank, IDFC and Persistent Systems. On the other hand, the top losers were Ashok Leyland, Tata Motors and Indiabulls Housing Finance. 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 4.30% and reached 19.62. The 50 share Nifty down by 73.65 points or 0.43% to settle at 17,241.00.
Nifty October 2022 futures closed at 17230.00 (LTP) on Monday, at a discount of 11.00 points over spot closing of 17241.00, while Nifty November 2022 futures ended at 17282.00 (LTP), at a premium of 41.00 points over spot closing. Nifty October futures saw an addition of 24,854 units, taking the total open interest (Contracts) to 2,67,388 units. The near month derivatives contract will expire on October 27, 2022. (Provisional)
From the most active contracts, Infosys October 2022 futures traded at a discount of 11.15 points at 1453.85 (LTP) compared with spot closing of 1465.00. The numbers of contracts traded were 38,598. (Provisional)
TCS October 2022 futures traded at a premium of 0.50 points at 3124.50 (LTP) compared with spot closing of 3124.00. The numbers of contracts traded were 35,729. (Provisional)
Tata Motors October 2022 futures traded at a discount of 2.90 points at 393.65 (LTP) compared with spot closing of 396.55. The numbers of contracts traded were 34,359. (Provisional)
Reliance Industries October 2022 futures traded at a premium of 2.85 points at 2409.85 (LTP) compared with spot closing of 2407.00. The numbers of contracts traded were 22,851. (Provisional)
HDFC Bank October 2022 futures traded at a premium of 4.60 points at 1420.55 (LTP) compared with spot closing of 1415.95. The numbers of contracts traded were 17,847. (Provisional)
Among, Nifty calls, 18000 SP from the October month expiry was the most active call with an addition of 8,314 units open interests. Among Nifty puts, 17000 SP from the October month expiry was the most active put with an addition of 18,855 units open interests. The maximum OI outstanding for Calls was at 18000 SP (69,731 units) and that for Puts was at 17000 SP (84,011 units). The respective Support and Resistance levels of Nifty are: Resistance 17,325.87 -- Pivot Point 17,195.28 -- Support -- 17,110.42.
The Nifty Put Call Ratio (PCR) finally stood at (1.17) for October month contract. The top five scrips with highest PCR on JSW Steel (0.93), RBL Bank (0.86), Coal India (0.84), Grasim Industries (0.83) and Zydus Lifesciences (0.82).
Among most active underlying, Tata Motors witnessed an addition of 12,524 units of Open Interest in the October month futures, Infosys witnessed an addition of 13,032 units of Open Interest in the October month futures, TCS witnessed an addition of 3,594 units of Open Interest in the October month futures, ICICI Bank witnessed an addition of 1,446 units of Open Interest in the October month futures and HDFC Bank witnessed an addition of 3,207 units of Open Interest in the October month futures (Provisional).
