Tag: GIFTNIFTY

Categories
Daily Reports

Daily Report 31-Jul-23

Wall Steet had another positive session with NASDAQ gain by 1.90% as tech stocks did well.  DOW30 was up by 0.50% & S&P500 was up by 0.99%.

China Seeks to Boost Consumption to Spur Economy’s Recovery – China’s economic data continues to remain weak as Chinese government continue to focus on economic revival since beginning of 2023.

Metal & Chemical stocks will be focus as China’s is expected to announce fresh set of measures to boost economy.

F&O Data: FII net long position in index futures by 13814 contracts, FII reduced 19427 contracts in index futures.  Nifty PCR @ 0.82 Vs 0.90 & Banknifty PCR @ 0.74 Vs 0.70.

Approach on Indices: Nifty @ 19478 & Banknifty @ 45219 could act as important support level and indices remain in uptrend till these levels hold.

Market View: We would focus on Metal stocks, Defense stocks for fresh allocation.  PSU’s where Q1FY24 earnings is pending could provide fresh entry opportunity.

GIFT NIFTY @ 19785 Vs 19751 Nifty future pre close.

Click on the attachment to read the full report:
31-Jul-23 Daily-Report.pdf
View Document
Categories
Daily Reports

Daily Report 17-Jul-23

Wall Street had flat closing on Friday after rally seen earlier this week on back of declining inflation data.  U.S. market recorded weekly gain on major indices round 2% to 3%.

HDFCBANK to announce result today, 42 HDFCBANK shares will be allotted for every 25 HDFC shared held.  HDFCBANK could see some pressure.

LTIM & TATAELXSI are two IT companies are set to announce result today ahead of LTTS tomorrow and INFY on 20-Jul-23.  INFY rallied around Rs 90/- or 6% in last two trading days.

F&O data: FII long: short position continues to remain at 70.29%:29.73%, Nifty PCR @ 1.34 Vs 1.11 previous.  Banknifty PCR @ 0.86 Vs 0.78.

Approach on Technical: Momentum on indices continue to remain strong, Nifty around 19550 zone Banknifty around 45000 is seeing some supply.  Nifty @ 19232 & Banknifty @ 44228 are key levels

GIFT NIFTY @ 19635 up 16 points at 8:05 AM

Click on the attachment to read the full report:
17-Jul-23 Daily-Report.pdf
View Document
Categories
Daily Reports

Daily Report 12-Jul-23

Wall Street ended higher ahead of important US inflation data.  JP Morgan and other financials gained ahead of result later this week and PPI data on Wednesday.

India’s inflation data will be released today at 5:30 PM.  HCLTECH & TCS are due to announce their result today.  IT stocks going into result with low expectation.

GST Council meeting: GST increase to 28% on online-gaming, horse racing and casino.

F&O data: FII added net long 5151 contracts in Nifty while FII were net seller by 4600 in Banknifty & 541 in FINNIFTY futures.  Nifty PCR @ 1.08 stable.  Banknifty PCR @ 0.67 is near to oversold zone.

Approach on Indices: Banknifty is currently trading around important support level.  Nifty is trading near upper end of the range and break above 19524 could trigger another round of rally.  Banknifty trading near 44773 – an important support level.

GIFTNIFTY @ 19545 up 8 points at 8:25 AM

Click on the attachment to read the full report:
12-Jul-23 Daily-Report.pdf
View Document
Categories
Daily Reports

Daily Report 10-Jul-23

Wall Street had another weak to flat session as jobs data were strong and market corrected on strong jobs data.  Fed fund rate monitor tool indicate 91% probability of 25-bps rate hike in next US Fed meeting.

Reliance Industries will be in focus as it approved buyback of Reliance retails shares at 1362 per share.  Reliance retail in fully owned subsidiary of Reliance industries and unlisted and only minority shares are in public.

HAL wins deal of 458 crores from defense – Indian Navy for 2 helicopters.  Defense minister on 3-day visit to Malaysia.

F&O data: FII sold 11244 contracts in index futures, net long position remains at 70.44%.  Nifty PCR @ 0.89 Vs 1.48 previous.  Banknifty PCR @ 0.75 Vs 1.12 previous.

Approach on Indices: GIFTNIFTY indicate flat to weak opening, Nifty @ 19181 & Banknifty @ 44228 likely to be tested and key support level.  

GIFTYNIFTY @ 19422.50 down 35.50 points

Click on the attachment to read the full report:
10-Jul-23 Daily-Report.pdf
View Document
Categories
Daily Reports

Daily Report 6-Jul-23

Wall Street had muted session with minor cuts as US FOMC meeting minutes revealed hawkish signal and indicated rate hike on 26-Jul-23, next US Fed meeting.

Reacting US FOMC meeting outcome, US 10-year bond yield is now trading a 3.95% & Dollar index at 103 indicates further rate hike expected.

Crude oil prices remain steady, WTI Crude @ $72 & Brent crude trading around $77 level.  Base metal prices remain stable.

F&O data: FII added 4605 contracts in index futures, net long position now at 72.39%.  Nifty PCR @ 1.37 Vs 1.47 previous.  Banknifty PCR @ 1.08 Vs 1.38 previous.

Approach on Indices: GIFTNIFTY indicate flat to negative start, with weekly F&O expiry, today could be a day of big correction which is overdue for some time now.  On lower side Nifty @ 19154 & Banknifty @ 44530 to act as strong support level.  

GIFTNIFTY @ 19488 down 24 points at 8:00 AM

Click on the attachment to read the full report:
6-Jul-23 Daily-Report.pdf
View Document
Categories
Daily Reports

Daily Report 5-Jul-23

U.S. market was closed on 4-Jul-23 for Independence Day.  Monthly economic data will be released later this week and US FOMC meeting minutes to be released tonight.

HDFCBANK quarterly business updates shows mix trend on merge entity.  HDFCBANK standalone business updates – loan growth at 15.8% & deposit growth at 19.2%.

LTIM to replace HDFC in Nifty from 13-Jul-23.  HDFC to de-list at trade as merge entity with HDFCBANK from 13-Jul-23.

F&O data: FII long position now stands at 71.89% or by 89765 contracts.  Nifty PCR @ 1.47 Vs 1.48 previous and Banknifty PCR @ 1.38 Vs 1.39 previous.

Approach on Indices: Run-up on indices is too fast supported by short covering, we would wait for correction to take fresh long and expect correction from current level.

GIFTYNIFTY @ 19498.50 up 5 points at 8:40 AM

Market View: Broder market sees some sign of consolidation; we would continue to follow strategy to increase cash level on rally and take opportunity to take fresh view on long position on correction & consolidation.  Q1FY24 result season will be key and provide further cues.  Quarterly business updates so far has been in-line with recent rally.

Click on the attachment to read the full report:
5-Jul-23 Daily-Report.pdf
View Document
Categories
Daily Reports

Daily Report 4-Jul-23

Wall Street had muted session in a holiday shorten session followed by holiday on 4-Jul-23 on U.S. Independence Day.

Quarterly business updates from BAJFINANCE recorded growth of 32% on yearly basis.  In Q1FY23 recorded highest ever AUM growth.

IDFC & IDFCBANK set to merge: IDFC Ltd share holder to get 155 shares of IDFCFIRSTB against 100 shares of IDFC.

VIX @ 11.54: moved above 11 as market witness profit booking.

Approach on Indices: Momentum remains strong, but looks stretched from current level.  We would wait for correction / consolidation for fresh entry.   GIFTNIFTY indicate flat opening and we expect indices to see some selling pressure / supply at current level.

GIFTNIFTY @ 19456 up 17 points at 8:15 AM

Click on the attachment to read the full report:
4-Jul-23 Daily-Report.pdf
View Document
Categories
Daily Reports

Daily Report 3-Jul-23

Wall Street continue to rally on Friday ahead of holiday shorten week in US and major jobs data by end of this week.  NASDAQ was up by 1.45% as tech stocks continue to do well.

China’s Caixin PMI continue to show weakness, eased to 50.5 from 50.9 indicate marginal expansion as 50 level mark separates expansion from contraction.

SGX Nifty to trade as GIFT NIFTY from 3-Jul-23, derivative contract with notional value of about $7.5 billion will shift to GIFTNIFTY.

F&O Data: FII added 16333 contracts in index futures, net long position now stands at 72433 contracts.  Net long: short contract now stands at 69.21%:30.79%.

Approach on Indices: Indices in unchartered territory, Nifty @ 19362 & Banknifty @ 44959 could be next target / resistance level and support level on Nifty @ 18932 & Banknifty @ 44253.

GIFTNIFTY @ 19365 up 20 points at 8:20 AM

Click on the attachment to read the full report:
3-Jul-23 Daily-Report.pdf
View Document