Nifty continues BUY trend, RBI policy awaited

Stock Market Today by Shailesh Saraf – 6th June 2019

Stock Market Today by Shailesh Saraf – 6th June 2016
Indian Market Outlook:

Today the markets would eagerly wait for the RBI policy statement to be announced tomorrow at 11:00 AM IST. This would lead to a consolidation phase for the day. We recommend a buy in Nifty share price at 8178 with a stop of 8150. 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 8243 at 8:35 am IST. Nifty is expected to open at same levels i.e. a gap up of 10 points.

 

International Market Outlook

The US pay rolls data surprised the Investor expectation as it showed that the US economy added only 68K jobs in the last month indication the slowdown in the global markets thereby reducing the chances of any near term rate hike. However, the US indices are holding strong at 2100 levels. Asian and European peers hold steady.

 

 
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 10908525 shares as on 3rd June, i.e. a total buy of 362025 shares in current expiry.

Similarly, in Index options, FII and Pro combined have decreased their short positions from 11284425 shares to 1021425 shares, i.e. a total buy of 10263000 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 254700 shares long and increased 22500 shares short positions in Index Call option, net buy 232200 shares today. In puts, FII have increased 420300 shares long and increased short positions by 837150 shares, net PUT sell 416850 shares today.

Pro, have increased 443400 shares long and increased short position by 1102875 shares, a net sell of 659475 shares in Index Call Option Today. In Puts, Pro has increased long position by 642975 shares and increased short position by 900900 shares, a net sell of 257925 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

.

 
FII & DII Cash Buy/Sell Activity
 
FII & DII Cash Buy/Sell Activity

As on 3rd June, for Current Expiry from 27th May, FII have bought Rs.3087.77 crores worth shares along with DII who have sold shares worth Rs.1112.17 crores in the cash segment.

Today, FII have buy equity worth 1585 cr and DII sold worth 293 cr.

 
Stocks in Support
Name ADM LTP S1 Level
ZENSARTECH 36.76 920.9 912.2 : W1
WELCORP 5.81 70.45 70.05 : W1
RUSHIL 19.6 371.65 365 : W1
RAJESHEXPO 23.79 523.95 520 : W1
KANORICHEM 3.36 58.75 57.85 : M0
GICHSGFIN 9.39 276.4 270.35 : M0
SUVEN 10.03 213.6 212.55 : M0
GODREJPROP 11.19 329.6 329 : M0
INDIANB 4.6 92.1 90 : M0
AXISCADES 15.91 263.2 260 : W1
 
Shares in Resistance

Name

ADM

R1 Level

LTP

DCBBANK

3.57

97 : M1

93.5

PERSISTENT

21.42

744.75 : M1

729.3

SOBHA

11.16

315.4 : M1

304.45

SUVEN

10.03

227 : M1

213.6

 
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