EQUITY RESEARCH LAB: DERIVATIVE REPORT 29th FEB

PUBLISHED BY:-EQUITY RESEARCH LAB

http://www.equityresearchlab.com

NIFTY FUTURE

Sensex shed 555 points to 23,154.30, while Nifty closed 181 points lower at 7,029.75. Markets close the week more than 2 per cent lower driven by profit booking, disappointing Rail Budget, intensified selling pressure, weak rupee and slumping crude oil prices. All-in-all, the Economic Survey paints a realistic picture on growth and inflation, which is a departure from previous surveys. If the Finance Minister is able to target a fiscal deficit of 3.5 per cent based on achievable and reasonable assumptions, it will be a positive for the markets.”

• Technical views:Nifty future closed at 7050.15 on Friday. Nifty may be trade in between the7000-7500 range in march series. March series started with maximum open interest at 7500 call and 7000 put. Below the level of l one short Fall may be seen in nifty future, Nifty future may be taste new level of 6800-6700.

NIFTY DAILY CHART

BANK NIFTY FUTURE

Bank Nifty rose 219 point (1.61%) and closed at 13848.85 on Friday . bank nifty shown consolidated movement in the full trading session. In the February expiry, Bank nifty (down 11.8% eoe with rollovers of 23.7lacs shares) was one of the biggest dragger YES BANK (2.39%) and SBI BANK (2.70%) and is the top losers in bank nifty future.

Technical views:Bank nifty shown technically recovery trend in daily time frame . But bullish trend in bank nifty will be seen above the level of 15700-15800. bank nifty may be shown new level of 13500-13400.

BANK NIFTY DAILY CHART

USD/INR

The Indian rupee dropped to an intra-day low of 68.785 against the dollar on Thursday, edging closer to the all-time low of 68.85 it hit in end-August 2013, before closing the session at 68.71. Currency dealers said the central bank had intervened in the market. The rupee hit its all-time low following the contagion in August 2013 after the US Federal Reserve said it would consider tapering its bond purchase Programme.

USDINR STRATEGY R1 68.79 R2 68.87

Pivot Point 68.70 S1 68.62 S2 68.53

EUROPEAN MARKET

European markets closed sharply higher on Friday with shares in Germany leading the region. The DAX is up 1.95% while France's CAC 40 is up 1.56% and London's FTSE 100 is up 1.38%.

ASIAN MARKET

Asian markets finished broadly higher on Friday with shares in Hong Kong leading the region. The Hang Seng is up 2.52% while China's Shanghai Composite is up 0.95% and Japan's Nikkei 225 is up 0.30%.

THANK YOU

http://www.equityresearchlab.com