S&P CNX -- Nifty halted losing streak on Monday and finished the session above its crucial 17900 mark. Market made positive start, as the Reserve Bank of India (RBI) said that retail -- covering housing and vehicles, credit cards, etc -- showed an accelerated growth rate of 12.1 per cent in September 2021 against 8.4 per cent in September 2020. Besides, in a relief to small-size firms, the Reserve Bank of India (RBI) has relaxed rules for opening current accounts with the banking system’s exposure of less than Rs 5 crore. Market maintained its gains with private survey stating that manufacturing activity in India gained steam in October as companies scaled up production in line with a substantial upturn in new work intakes. Similarly, factory output increased at a sharp pace that was the strongest since March. At 55.9 in October, vs 53.7 in September, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index was in expansion territory for the fourth month in a row in October, pointing to the strongest improvement in overall operating conditions since February.
In late afternoon session market added more gains session to trade above 17800 mark. Traders took support as Prime Minister Narendra Modi said India is becoming fully capable of dealing with all kinds of external and internal challenges, while deriving inspiration from Sardar Vallabhbhai Patel. Finally, index ended the session with the gains of over a percent.
All the sectoral indices ended in green. The top gainers from the F&O segment were SAIL, Indusind Bank and Delta Corp. On the other hand, the top losers were Laurus Labs, Cholamandalam Investment and Manappuram Finance. In the index option segment, maximum OI continues to be seen in the 17900 -18200 calls and 16900 -17200 puts indicating this is the trading range expectation.
India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 1.09% and reached 17.24. The 50 share Nifty up by 258 points or 1.46% to settle at 17,929.65.
Nifty November 2021 futures closed at 18017.00 (LTP) on Monday, at a premium of 87.35 points over spot closing of 17929.65, while Nifty December 2021 futures ended at 18079.00 (LTP), at a premium of 149.35 points over spot closing. Nifty November futures saw an addition of 8,102 units, taking the total open interest (Contracts) to 2,22,976 units. The near month derivatives contract will expire on November 25, 2021 (Provisional).
From the most active contracts, Reliance Industries November 2021 futures traded at a premium of 17.60 points at 2555.70 (LTP) compared with spot closing of 2538.10. The numbers of contracts traded were 41,516 (Provisional).
SAIL November 2021 futures traded at a discount of 3.25 points at 121.95 (LTP) compared with spot closing of 125.20. The numbers of contracts traded were 30,436 (Provisional).
Tata steel November 2021 futures traded at a premium of 8.50 points at 1370.50 (LTP) compared with spot closing of 1362.00. The numbers of contracts traded were 29,809 (Provisional).
SBIN November 2021 futures traded at a premium of 3.70 points at 519.00 (LTP) compared with spot closing of 515.30. The numbers of contracts traded were 24,190 (Provisional).
TCS November 2021 futures traded at a premium of 11.65 points at 3494.00 (LTP) compared with spot closing of 3482.35. The numbers of contracts traded were 21,288 (Provisional).
Among, Nifty calls, 18000 SP from the October month expiry was the most active call with an addition of 4,950 units open interests. Among Nifty puts, 17800 SP from the October month expiry was the most active put with a contraction of 96 units open interests. The maximum OI outstanding for Calls was at 18000 SP (37,255 units) and that for Puts was at 17000 SP (43,339 units). The respective Support and Resistance levels of Nifty are: Resistance 18,023.47 -- Pivot Point 17,860.28 -- Support --- 17,766.47.
The Nifty Put Call Ratio (PCR) finally stood at (1.12) for October month contract. The top five scrips with highest PCR on Balkrishna Industries (2.48), Dalmia Bharat (1.63), Whirlpool (1.45), Abbott India (0.99) and P I Industries (0.88).
Among most active underlying, Reliance Industries witnessed an addition of 7,695 units of Open Interest in the October month futures contract, IRCTC witnessed an addition of 1,206 units of Open Interest in the October month futures contract, Tata Motors witnessed an addition of 1,946 units of Open Interest in the October month futures contract, Bharti Airtel witnessed an addition of 242 units of Open Interest in the October month futures contract and SBIN witnessed an addition of 4,210 units of Open Interest in the October month futures contract (Provisional).
