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EQUITY RESEARCH LAB: DERIVATIVE REPORT 25thFEB
EQUITY RESEARCH LAB
Sensex closed 321.25 points down at 23088.93, while Nifty settled 90.85 points down at 7,018.70.Nifty down over 1% on Wednesday ahead of F&O expiry and Rail Budget scheduled on Thursday.Markets fell sharply, mirroring the weakness in global markets, and ahead of the F&O expiry on Thursday. With the budget just a few days away, markets will look out for measures to support growth and also for achievable assumptions on the potential sources of revenues. There are concerns regarding potential budget announcements relating to the taxability of long term capital gains on shares.”
Nifty future closed at 7019.05 on Wednesday. Nifty shown Reversal trend from the level of 7250 , At that level one short Fall may be seen in nifty future, Nifty future may be taste new level of 6800-6700.
BANK NIFTY FUTURE
Bank Nifty slid 205 point (1.47%) and closed at 13790.55 on Wednesday . bank nifty shown downtrend in the full trading session. ICICI BANK (-2.60%) and HDFC BANK (-2.11%) and is the top losers in bank nifty future.
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 13500-13700. .
BANK NIFTY daily chart
The Indian rupee has opened lower by 8 paise at 68.65 per dollar on Wednesday against previous close of 68.57. "The rupee strengthened marginally and closed at 68.59/dollar on account of dollar sales by PSU banks." "The rupee has been one of the worst performers in the Asian currencies this calendar year with a depreciation of 3.55 percent." "The USD-INR pair is expected to take cues from the equity market today and trade in the range of 68.48-68.62/dollar.
USDINR STRATEGYR1 68.66 R2 68.74
Pivot Point 68.58S1 68.50S2 68.42
European markets finished lower on Wednesday with shares in Germany leading the region. The DAX is down 2.72% while France's CAC 40 is off 2% and London's FTSE 100 is lower by 1.62%.
Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.88%, while the Hang Seng led the Nikkei 225 lower. They fell 1.15% and 0.85% respectively.