Nifty expected to trade in a range of 7700 to 7950

Stock Market Today by Shailesh Saraf – 23rd May 2019

Stock Market Today by Shailesh Saraf – 23rd May 2016
Indian Market Outlook:

FED interest rate most likely to be hiked from 25 bps to 50 bps in the scheduled June 15 FED meeting, further confirmation will come if 3 month US treasury yield trades above 36 bps. The open interest data, SEBI's P-Note decision along with FED rate hike expectation in June 15 might put further selling pressure in Nifty. However, the short term trend would be sell only if Small Cap trades below 5090. Nifty is opening 20 points gap up at 7783 from yesterday's close of 7763 at 8:05 am IST.

 

International Market Outlook

Asian shares rose on Monday after a solid session on Wall Street, while the dollar held near recent highs against major rivals as investors bet that the U.S. Federal Reserve was on track to raise rates sooner rather than later. Finance policymakers at the G7 agreed to avoid competitive devaluation, but shunned a call by Japan to stimulate economies with fiscal measures while seeking "balanced" fiscal, monetary and structural reform policies to support global growth.

Markets have started to entertain the prospect of a near term U.S. rate hike after last week's release of Fed meeting minutes showed that policymakers weren't shying away from raising interest rates as early as next month. Federal Reserve Chair Janet Yellen will appear at a panel event hosted by Harvard University on Friday. Fed branch presidents including those from San Francisco, St. Louis, Dallas, Minneapolis are also slated to speak earlier in the week.

 

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

On 29th April FII & Pro combined had a total long position in Index Futures of 8582325 shares which is reduced to only 651225 shares as on 19 May, i.e. a total sell of 8249850 shares in current expiry.

Similarly, in Index options, FII and Pro combined have increased their short positions from 19668150 shares to 37472475 shares, i.e. a total sell of 21433575 shares in current expiry.

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

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

Today, FII have added 9825 shares long and added 784200 shares short positions in Index Call option, net sell 774375 shares today. In puts, FII have added 422400 shares long and increased short positions by 402225 shares, net PUT buy 20175 shares today.

Pro, have reduced 171975 shares long and increased short position by 744225 shares, a net sell of 916200 shares in Index Call Option Today. In Puts, Pro has decreased long position by 490800 shares and increased short position by 212850 shares, a net sell of 703650 shares in Put today.

 
FII Derivatives Statistics

The FII derivatives statistics data published by NSE shows that there has been net selling of 751 contracts in Index Futures by FIIs which is worth 44.91 crores. However, In Index options, the data shows that FIIs are net short 10056 contracts which is worth 566 crores. The data is misinterpreted generally since there has been a net sell worth Rs. 618 cr (approx) in the options market as shown in the table below. FIIs are net short in calls, which is SELL in the market, and they are net buyer in the Puts which is also SELL for the markets. Hence instead of taking the difference of call and put we need to sum up both which gives a net sell worth 618 Cr in Index Options.

 
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
Indian: Quarterly results today:   TATAPOWER, ENGINERSIN, DISHTV, BPCL, TORNTPHARM, HSIL, WELCORP

.

 
FII Index Future Buy /Sell activity
 
FII & DII Cash Buy/Sell Activity

As on 20th May, for Current Expiry, FII have sold Rs. 1307 crores worth shares along with DII who have bought shares worth Rs.5406 crores in the cash segment.

Today, FII have sold equity worth 744 cr and DII bought worth 597 cr.

 

*Top Price Gainers:

MEGHMANI ORGANICS  has rallied more than 100% from low of Rs. 19.8 it made in march and made high of Rs. 46, the stock has corrected 16% on profit booking. Stock major support as per Dynamic levels is at Rs. 37. It took support of that level and showed huge buying with volume. This is a multibagger stock as per Dynamic levels.

Top Price Gainers
 

*Top Price Losers:

DISHMANDishman reported a 29.29 per cent increase in consolidated net profit at Rs 49.92 crore for the March quarter. The company, announced plans to sell 50 per cent stake in joint venture Schutz Dishman for three lakh euros to its promoters, had reported a consolidatednet profit of Rs 38.61 crore in January-March period of 2014-15. 

 

Top Price Losers
 

*Top Volume Buzzers:

KTK BANK: KTK bank’s profit declined 20 % to Rs 107 crore YoY, impacted by higher provisions. Net interest income, grew by 23.5 % to Rs 359.7 crore. Other income shot up 52.2 percent to Rs 170 crore and operating profit increased 34.3 percent to Rs 254.4 crore YoY. Provisions for bad loans stood at Rs 112.5 crore in Q4 against write-back of Rs 4.49 crore in corresponding period of last fiscal but declined significantly compared to Rs 631.1crore in preceding quarter.

Top Volume Buzzers
 
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