EQUITY RESEARCH LAB: DERIVATIVE REPORT 1st MARCH

PUBLISHED BY:-EQUITY RESEARCH LAB

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NIFTY FUTURESensex closed 777.35 points up at 23,779.35, while Nifty closed 235.25 points up at 7,222.30. Nifty surged over 3 % on Tuesday after buying gained momentum across sectors led by FMCG, banks and industrials amid hopes of a repo rate cut after the presentation of the Union Budget 2016. The market witnessed high-powered action in the last two days. After hitting fresh 52-week lows on Budget Day indices staged a recovery of sorts as they zoomed with absolute gains not seen in the last seven years. Bears had nowhere to hide. Nifty Bank posted biggest single day gains in absolute terms since May 2015.

• Technical views:Nifty future closed at 7229.05 on Tuesday. 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 rose 486 point (3.47%) and closed at 14452.75 on Tuesday . bank nifty shown uptrend movement in the full trading session. ICICI BANK (7.84%) and YES BANK(4.41%) is the top gainers 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 FUTURE

BANK NIFTY DAILY CHART

USD/INR

The Indian rupee gained 17 paise in the early trade on Tuesday. It has opened at 68.26 per dollar versus 68.43 Monday. "The fiscally prudent Budget and expectations of further monetary easing by Reserve Bank of India helped both currency and bond markets. The USD-INR pair will trade in the 67.50-68.50/dollar range in the near-term, with some appreciating bias. The yen rose broadly as investors sought its safety following a statement from the group of 20 countries that offered no concrete action to address concerns about slow growth and low inflation.

USDINR STRATEGY R1 68.57 R2 68.72

Pivot Point 68.58 S1 68.06 S2 67.70

EUROPEAN MARKET

European markets closed sharply higher on Friday with shares in Germany leading the region. The DAX is up 2.28% while France's CAC 40 is up 1.21% and London's FTSE 100 is up 0.91%.

ASIAN MARKET

Asian markets finished broadly higher today with shares in China leading the region. The Shanghai Composite is up 1.68% while Hong Kong's Hang Seng is up 1.58% and Japan's Nikkei 225 is up 0.37%.

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