Indian equities opened on a positive note mirroring global cues. However, it soon slipped into the red. Oil & gas, banks trades lower while some buying was seen in auto, metal, banks, capital goods stocks. Brent Crude was trading at USD 116 per barrel.
Among frontliners, Hindalco, Cairn India, HUL, HDFC, ICICI Bank, Tata Steel, Ambuja Cements, Rel Com, Rel Power, Rel Infra, Maruti and ONGC were the top gainers, while losers include heavyweight names like Reliance Industries, TCS and BPCL.
At 09.17 am, the Sensex was up 101.31 points or 0.56% at 18251.18, and the Nifty was up 19.75 points or 0.36% at 5466.40.
About 631 shares advanced, 156 declined, and 2583 shares remained unchanged. Gautam Shah, JM Financial said that, "The mini 'Channel' pattern continues to be applicable on the charts with resistance seen at 5560 and support around 5370 on the Nifty. A breakout in any direction may lead to a 100-point move. Our bias continues to be on the downside. A close above the 5640 on the Nifty and 18800 on the Sensex is required to confirm a trend reversal."
Aditya Narain of Citigroup believes that the unfortunate earthquake in Japan should have a fairly limited impact on Indian market. "India's exports to Japan are small. However, we believe the possible indirect impact on India's nuclear energy policy, the reaction of Japanese businesses regarding Indian operations and investment and Japanese capital flows into India could have a greater bearing over time."
Asian markets were trading higher in the morning. They were up in the range of 0.5-1.5%.
TheUS markets broke the 3-day losing streak on speculations that Japan
Dow Jones Industrial Average added 1.39% or 161.29 points at 11774.59. Nasdaq Composite gained 0.73% or 19.23 points at 2636.05. Standard & Poor's 500 rose 1.34% or 16.84 points at 1273.72.
F&O cues:
Total Futures Open Int down Rs 183 cr, Total Options Open Int up Rs 659 crore
Total stock futures Open Int add 75 lakh shares in Open Int
Nifty futures Open Int add 2.34 lakh shares in Open Int, prem at 20 pts versus prem of 12 pts because of massive cash based selling
Nifty Open Int PCR down at 1.25 versus 1.33 -Total Put shed 19.7 lakh shares, call add 26 lakh shares
Highest Open Int outstanding at 5400 put, 5300 put, 5500 call
Nifty 5500 call add 10.5 lakh (16%) shares in Open Int
Nifty 5600 call add 7.4 lakh (12%) shares in Open Int
Nifty 5400 call add 4.2 lakh (13%) shares in Open Int
Nifty 5400 Put shed 14.3 lakh (13%) shares in Open Int
Nifty 5500 put shed 12.5 lakh (22%) shares in Open Int
Nifty 5100 Put shed 3 lakh (5%) shares in Open Int
Nifty 5600 put shed 1.8 lakh (8%) shares in Open Int
Nifty April 5500 Put add 1.88 lakh (21%) shares in Open Int
Nifty April 5800 call add 1.27 lakh (8%) shares in Open Int
India VIX up 1.5% at 25.26; Orchid and Suzlon in FNO Curb
Market cues:
Global markets recover post G7's Joint Intervention; yen falls nearly 3% against USD. FIIs net sell USD 27.6 million in the cash market on Mar 16. MFs net buy Rs 286 crore in the cash market on Mar 16. NSE F&O Open Int was up Rs 476 cr at Rs 1.39 lakh crore
At 09.17 am, the Sensex was up 101.31 points or 0.56% at 18251.18, and the Nifty was up 19.75 points or 0.36% at 5466.40.
About 631 shares advanced, 156 declined, and 2583 shares remained unchanged. Gautam Shah, JM Financial said that, "The mini 'Channel' pattern continues to be applicable on the charts with resistance seen at 5560 and support around 5370 on the Nifty. A breakout in any direction may lead to a 100-point move. Our bias continues to be on the downside. A close above the 5640 on the Nifty and 18800 on the Sensex is required to confirm a trend reversal."
Aditya Narain of Citigroup believes that the unfortunate earthquake in Japan should have a fairly limited impact on Indian market. "India's exports to Japan are small. However, we believe the possible indirect impact on India's nuclear energy policy, the reaction of Japanese businesses regarding Indian operations and investment and Japanese capital flows into India could have a greater bearing over time."
Asian markets were trading higher in the morning. They were up in the range of 0.5-1.5%.
The
Dow Jones Industrial Average added 1.39% or 161.29 points at 11774.59. Nasdaq Composite gained 0.73% or 19.23 points at 2636.05. Standard & Poor's 500 rose 1.34% or 16.84 points at 1273.72.
F&O cues:
Total Futures Open Int down Rs 183 cr, Total Options Open Int up Rs 659 crore
Total stock futures Open Int add 75 lakh shares in Open Int
Nifty futures Open Int add 2.34 lakh shares in Open Int, prem at 20 pts versus prem of 12 pts because of massive cash based selling
Nifty Open Int PCR down at 1.25 versus 1.33 -Total Put shed 19.7 lakh shares, call add 26 lakh shares
Highest Open Int outstanding at 5400 put, 5300 put, 5500 call
Nifty 5500 call add 10.5 lakh (16%) shares in Open Int
Nifty 5600 call add 7.4 lakh (12%) shares in Open Int
Nifty 5400 call add 4.2 lakh (13%) shares in Open Int
Nifty 5400 Put shed 14.3 lakh (13%) shares in Open Int
Nifty 5500 put shed 12.5 lakh (22%) shares in Open Int
Nifty 5100 Put shed 3 lakh (5%) shares in Open Int
Nifty 5600 put shed 1.8 lakh (8%) shares in Open Int
Nifty April 5500 Put add 1.88 lakh (21%) shares in Open Int
Nifty April 5800 call add 1.27 lakh (8%) shares in Open Int
India VIX up 1.5% at 25.26; Orchid and Suzlon in FNO Curb
Market cues:
Global markets recover post G7's Joint Intervention; yen falls nearly 3% against USD. FIIs net sell USD 27.6 million in the cash market on Mar 16. MFs net buy Rs 286 crore in the cash market on Mar 16. NSE F&O Open Int was up Rs 476 cr at Rs 1.39 lakh crore
1 comment:
takes a brave man to be on the other side of this trade
Intrinsic Value
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