Nifty holds strong, BUY at every correction

Stock Market Today by Shailesh Saraf – 2nd June 2019

Stock Market Today by Shailesh Saraf – 2nd June 2016
Indian Market Outlook:

We recommend a buy in Nifty at 8120 with a stop of 8100. The huge buying of FII and PRO in future and options suggests that 8336 are in the cards for Nifty in the coming days. SGX Nifty is trading at 8182 at 8:30 am IST. Nifty is expected to open at same levels i.e. a gap down of 15 points.

 

International Market Outlook

Asian shares were steady on Thursday as Wall Street gave up modest gains. This was after the latest batch of U.S. data provided few clues on when the Federal Reserve might raise rates, while a resurgent yen pressured equity markets in Japan. The yen strengthened earlier today after Japanese Prime Minister Shinzo Abe said he was planning to delay a scheduled sales tax hike by two-and-a-half years, amid ongoing weakness in the economy.

 

 
Open Interest-FII & Pro Combined Activity
 
Open Interest-FII & Pro Combined Activity

On 26th May FII & Pro combined had a total long position in Index Futures of 8489775 shares which is increased to 10773225 shares as on 1st June, i.e. a total buy of 2283450 shares in current expiry.

Similarly, in Index options, FII and Pro combined have decreased their short positions from 11284425 shares to 2435250 shares, i.e. a total buy of 8849175 shares in current expiry.

The data indicates a clear buy bias in the markets by FIIs and Proprietary.

 
Change in Options Open Interest Today
 
Change in Options Open Interest Today

Today, FII have increased 580125 shares long and increased 14775 shares short positions in Index Call option, net buy 565350 shares today. In puts, FII have increased 995100 shares long and increased short positions by 1128300 shares, net PUT sell 279300 shares today.

Pro, have decreased 453300 shares long and increased short position by 1610025 shares, a net sell of 2063325 shares in Index Call Option Today. In Puts, Pro has increased long position by 117975 shares and increased short position by 1257900 shares, a net sell of 1139925 shares in Put today.

 
FII Derivatives Statistics - NSE

FII Derivatives Statistics - NSE

 
FII Options Statistics - Dynamic Research

FII Options Statistics - Dynamic Research

 
FII Index Statistics - Dynamic Research

FII Index Statistics - Dynamic Research

 
Major Events of the Day
  1. 7th June RBI Policy
  2. 15th June US FED Interest rate decision
  3. June 16th to July 1 Monsoon Session
  4. 23rd June Brexit referendum

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FII Index Future Buy /Sell Activity
 
FII Index Future Buy /Sell Activity

As on 1st June, for Current Expiry from 27th May FII have bought Rs. 981.02 crores worth shares along with DII who have sold shares worth Rs.242.31 crores in the cash segment.

Today, FII have buy equity worth 260 cr and DII bought worth 161 cr.

 

*Top Price Gainers:

MEGH: Agriculture-related stocks continued to outperform benchmark indices and stayed high in May also on expectation of robust monsoon this year after consecutive years of drought in the past two years. Meghmani showed first day of buying after correcting from 47 to 34.5 which is a support level as per Dynamic Levels.

  

Top Price Gainers
 

*Top Price Losers:

LLOYDENG: LLoyd electric showed second day of selling by 4.7% after it declare its Q4 results on Monday, profit decline by 82.73% YoY. Lloyd profit decline due to onetime cost that company has written off for not getting insurance claim of 45.80 crs

Top Price Losers
 

*Top Volume Buzzers:

PRICOL: Automotive manufacturers Pricol recorded a net profit of Rs 22.0663 crore in Jan-March quarter of FY-2015-16, recovering from the loss of Rs 2.4 crore recorded the previous year. For the full year, the company recorded a profit of Rs 43.1974 crore, from a loss of Rs 17.99 crore. Total revenues for the quarter increased by 49.6% from Rs 229.17 crore to Rs 342.8525 crore compared to the same period the previous fiscal.

Top Volume Buzzers
 
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