EQUITY RESEARCH LAB: DERIVATIVE REPORT 6TH APRIL

NIFTY FUTURE

Sensex closed 516.06 points, or 2.03 per cent, down at 24,883.59, while Nifty index settled 167.15 points, or 2.15 per cent, lower at 7,591.65.Nifty tanked over 2 per cent on Tuesday, despite the Reserve Bank of India (RBI) slashing the repo rate by 25 basis points, which was in line with market expectations. Bleak global cues and profit booking in rate sensitive stocks dampened market sentiments.

Technical views:Nifty future closed at 7623.50 on Tuesday. Nifty closed Near to the 7600. nifty may continue bullish trend further, next resistance for nifty may be 7950.

NIFTY DAILY CHART

BANK NIFTY FUTURE

Bank Nifty trade downward in the full trading session and closed at 15732.60 on Tuesday . bank nifty shown consolidation in on the Daily chart and also break the level of 16000 . ICICI BANK (-5.51%) and SBIN BANK (-5.32%) is the top losers in bank nifty future.

Technical views:Bank nifty touch the new level of 16000 and consolidated at that level ,some more range bound movement may be seen in bank nifty above the level of 16000 bank nifty may be show the level of 16400-16800.

BANK NIFTY DAILY CHART

USD/INR

The Indian rupee retreated in early trade Tuesday. The currency has opened marginally lower at 66.25 a dollar compared to 66.20 a dollar in previous session. The RBI is widely expected to cut rates by 0.25 percent in the monetary policy later today, adding communication from policy makers will be keenly watched by the market participants.

USDINR STRATEGY R1 66.45 R2 66.70

Pivot Point 66.74 S1 66.01 S2 65.82

EUROPEAN MARKET

European markets finished broadly lower yesterday with shares in Germany leading the region. The DAX is down 2.71% while France's CAC 40 is off 2.23% and London's FTSE 100 is lower by 1.21%.

ASIAN MARKET

Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 1.45%, while the Nikkei 225 led the Hang Seng lower. They fell 2.42% and 1.57% respectively.