Wednesday, 4 July 2018

Markets indicating a flat opening as trade war concerns linger

FUTURE:BUY BANKBARODA ABOVE 113.50 TARGETS 114.25 / 115.25 / 116.50 STOPLOSS 112.50 

Stock market report with bull and bear
SGX Nifty is currently trading in the red down 6 points at 10,727. Indices are expected to open on a flat note. Markets are expected to remain range bound in the near term as traders await further cues regarding tariff hikes, as well as the Q1 result season which would commence shortly.

Global markets: Major Asian markets are trading with a negative bias at present. Nikkei is down 0.66%, Hang Seng is down 0.61%, while Shanghai Composite is trading 0.14% lower.

US Markets: Major averages ended the session in the red after failing to sustain its initial move to the upside. The Dow fell 0.5% to 24,174.82, the Nasdaq slid 0.9% to 7,502.67, and the S&P 500 corrected 0.5% to 2,713.22. The pullback on Wall Street came amid lingering trade concerns as tariffs on billions of dollars worth of US and Chinese goods are set to take effect later this week.

European markets managed to end with a positive bias yesterday with FTSE up 0.6%, CAC was up 0.75%, while DAX closed 0.90% higher.

FII Data:  In yesterday’s trading session, FIIs sold 1043cr stock in the cash market, while DIIs bought 278cr worth of stock. In the derivative market, FIIs bought 47cr of index futures and bought 116cr worth of index options. In the stock futures segment, FIIs bought 480cr worth of stock futures and bought 4cr stock options.

FII View: In yesterday’s trading session, FII built marginally bullish positions in the market, which is deduced by the fact that they purchased 6323 long contracts in index futures and simultaneously purchased 10,414 short contracts in index put options.
 FIIOI(000's)% Chg% Chg Since ExpiryLong/Short RatioLong/Short Since Expiry
Future Index Long947280.71.2
Future Index Short14344
Option Index Call Long161172.01.0
Option Index Call Short81(1)7
Option Index Put Long290373.00.9
Option Index Put Short951221
Support / Resistance: Intraday
Nifty: 10699
S1 – 10,600S2-10,550
R1-  10,740R2 -10,780
Support / Resistance: Intraday
Bank Nifty: 26204
S1 – 26,000S2-25,900
R1 - 26,500R2 -26,650

Nifty Highest Open Interest:
Call: 11,000 / Put: 10,600
Bank Nifty Highest Open interest: (July 5, 2018 Expiry)
Call: 26,500 / Put: 26,000

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