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DAILY NEWS LETTER

Date: 03.06.2019

Nifty Short Term Trend

The Nifty50 traded higher in the morning session on Friday and

moved close to its record high of 12,041. Weak global cues

amid US-China trade tensions also dented the market

sentiment. The index formed a bearish candle with long lower

shadow on the daily scale while small bullish candle on the

weekly scale. During the week, the index gained 0.66 percent.

In the last five trading sessions, the market has been

consolidating between 11,800 to 12,041 levels and requires a

decisive breakout on the higher side to extend its gains towards

a new all-time high, adding if it fails to hold 11,900 levels on a

closing basis, then further selling pressure could be possible.

The Nifty50 opened at 11,999.80 and hit an intraday high of

12,039.25, but sudden selling pressure in late morning deals,

especially after cabinet portfolio allocation, dragged the index

to the day's low of 11,829.45. Now Nifty index has to hold

11,850 zones to witness an upmove towards 12,000 then

12,041 zones while supports are seen at 11,850 then 11,761

levels.

Bank Nifty opened positive and made a new all-time high of

31,783, but failed to hold its gains and drifted sharply towards

30,600 zones. The index formed a bearish candle with long

lower shadow on the daily scale while 'Long Legged Candle' on

the weekly scale which suggests a state of confusion at higher

band. Now Bank Nifty has to hold near to 31,150 zones to

witness an upmove towards 31,783 then 32,000 levels while

major support exists at 31,000 then 30,500 zones.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 12000 12040 11850 11761 Sideways Positive

BANK NIFTY 31783 32000 31000 30500 Sideways Positive

USD/INR 69.73 69.98 69.31 69.10 Sideways Positive

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Financial & Economic Wrap Up

International rating agency Fitch Ratings affirmed long-term issuer default ratings (IDRs) of six banks including State Bank of India, Bank of Baroda and Punjab National Bank at 'BBB-', with stable outlook. The agency also affirmed BBB- rating of Bank of Baroda (New Zealand), Canara Bank and Bank of India (BOI). The rating of IDBI Bank's long-term IDR was affirmed at 'BB+'.

Drug maker Lupin May 30 said the US health regulator has cautioned that the firm's Goa facility may be subject to regulatory or administrative action and it may withhold approval of any pending applications or supplements in which this facility is listed. The company has received a letter from the US Food and Drug Administration (USFDA) classifying the inspection conducted at its Goa facility between January 28 to February 8 as Official Action Indicated (OAI).

The National Company Law Tribunal (NCLT) on May 30 approved the resolution plan of Tata Steel to acquire debt-ridden Bhushan Energy Ltd for around Rs 800 crore. The principal bench of NCLT Delhi also rejected objections from Bhushan Energy's former promoter Neeraj Singal opposing Tata Steels' bid. Under the resolution plan, Tata Steel will offer an upfront payment of Rs 730 crore.

Ramco Cements May 30 said its Rs 3,500-crore expansion projects were 'underway' which would increase cement production to 20 million tonne per annum by 2020. The company is setting up a new plant in Odisha and it was expected to be commissioned by October 2019. Ramco Cements is also setting up a plant in Visakhapatnam and it was expected to be commissioned by December 2019 while ramping up clinker capacities at Jayanthipuram and Kurnool was expected by July 2020 and March 2021 respectively.

Infrastructure major Larsen and Tubro (L&T) on May 30 acquired about 27,000 shares of Mindtreefrom open market, raising its shareholding in the IT services firm to 28.88 per cent, according to a regulatory filing. "Larsen and Toubro Ltd has acquired 26,974 equity shares (with a face value of Rs 10 each) of Mindtree Ltd on May 30, 2019," a BSE filing by Mindtree said. After the latest transaction, L&T's shareholding in Mindtree stands at 28.88 per cent.

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 39714 39832 -0.30

Nifty 50 11923 11946 -0.19

Nifty Midcap 50 4963 4966 -0.07

Nifty 500 9805 9815 -0.10

Bank Nifty 31375 31537 -0.51

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 9474.09 8797.94 676.15

DII Activity 3815.19 3421.10 394.09

FII Derivative Statistics

BUY SELL

No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 54236 4201.63 58620 4606.22

Index Options 2511240 182864.25 2478494 180171.24

Stock Futures 306873 18667.22 273387 16236.23

Stock Options 86341 5339.81 85443 5288.58 Top OI Gainers

Scrip LTP % CHANGE

IN PRICE OI % Change

in OI

NCC 97.7 -16.99 8726 55.99

UJJIVAN 363.05 5.94 2903 55.74

BERGEPAINT 328.9 8.76 1999 41.17

COALINDIA 254.55 0.00 16493 40.34

PCJEWELLER 64.15 -6.49 3577 31.03 Top 5 OI Losers

Scrip LTP % CHANGE

IN PRICE OI % Change

in OI

TORNTPHARM 1556.95 -0.50 1169 -7.52

BEML 977.9 -3.68 2202 -7.09

ENGINERSIN 122.05 -3.06 1866 -6.79

MFSL 451.2 -1.13 1714 -5.62

GODREJIND 493.65 1.18 1015 -5.58 Volume Spurt: Cash Segment

Scrip LTP Quantity

Change (%)** Price

Change (%)

BERGER PAINTS (I) LTD 330.3 396.47 9.9

UJJIVAN FINANCIAL 362.45 186.48 6.49

Edelweiss Financial 202.85 151.66 5.65

INFIBEAM AVENUES 46.2 155.89 -8.79

NCC Limited 97.75 311.23 -16.35 **Change from average Quantity, rest other % are over previous day’s close unless otherwise mentioned

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Put Call Ratios

OI Wise Volume wise

BSOFT 3.00 BEARISH RAMCOCEM 5.33 BEARISH

RAMCOCEM 2.00 BEARISH BERGEPAINT 2.25 BEARISH

COLPAL 1.84 BEARISH CHENNPETRO 1.33 BEARISH

TCS 1.65 BEARISH COLPAL 1.24 BEARISH

BERGEPAINT 1.35 BEARISH BSOFT 1.18 BEARISH

w

0

1,000,000

2,000,000

3,000,000

11600 11800 12000 12200 12400Op

en

Inte

rest

Strike Price

Open Interest-Call/Put

CE-OI PE-OI

-500000

0

500000

1000000

Ch

ange

in IO

Strike Price

Change in Open Interest - Call/Put

Change in OI-CE Change in OI-PE

Nifty OI – Call Put Analysis

F&O Wrap-up

• Nifty June series future closed at 11916.50, discount of 6.3 Point with respect to nifty spot which closed at 11922.80

• The Nifty OI wise Put-Call ratio stood at 1.44 and volume wise put-call ratio stood at 1.15

• India VIX has increased by 1.52 percent and closed at 15.8475

• The open interest in Nifty Futures increased from 11,95,962 to 13,24,697

Quarterly Results Today (Q4)

Orchid Pharma Ltd

STANDARD SURFACTANTS LTD.

TRIDENT TOOLS LTD.

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