Source: CNBCTV18
Rollovers
Nifty at 60%
Bank Nifty at 51%
FIIs adding shorts
On Index Futures On Stock Futures
Longs -1750 +15886
Shorts +14357 +47220
Positioning on Index Futures
FII -67419
Clients +65811
FII Writing Index Options
Calls +146662
Puts +37107
OPTION CUES
Nifty PCR at 0.82 vs 1.06
NIFTY OPTIONS (May 29)
Strike Change in OI Premium
24800 Call +41.04 lk shares 217
24900 Call +32.5 lk shares 168
24800 Put +10.3 lk shares 153
Nifty levels
Resistance 25,060-25,080
20 DMA 24,627
TRADE SET UP
S&P 500 climbed >2%, halting a 4-day slide
SPX +2.05%, Nasdaq +2.47%, Russell 2000 +2.47%
Move felt squeezy & a technical reaction to drop in yields (30y < 5%)
UST 10y yield lost 7 bps to 4.45%
2 reasons: Japan’s signal that they will adjust their debt plan, overnight 2y UST auction was strong
Dollar Index +0.42% to 99.53
Brent Oil down 0.9% to $64.18
OPEC+ ministerial meeting today
OPEC+ members reportedly a potential 3rd straight production surge in July of 411k bpd being discussed
US Conference Board Consumer Confidence surprised to the upside
On the downside, Nifty support at 24,627 (20-day MA) & then 24,462
Nifty has immediate resistance at the high of 25,116 & then at 25,310
Support for Bank Nifty at 54,576, 20-day MA at 54,991
Bank Nifty immediate resistance at 55,875 (yesterday’s high)
Wednesday Cues
Asian markets track small gains
Markets await Nvidia earnings; Topline growth expected to moderate to 66%
Co likely to take a $5.5b inventory writedown due to China export restrictions
Nvidia’s market share in China has dropped to 50% from high of 95%
Yen recovers some losses after falling 1% to USD yesterday
Japan may look to reduce issuance of long dated bonds: Reuters
Indian market underperforms on Tuesday; FPI buying reduces
Large DII buying seen; Data includes large block trades on Tuesday
DII Net Buy 10,104.66 Cr in Cash
FII Net Buy 348.45 Cr in Cash
Stocks in Focus
ITC: BAT Considers Partial Stake Sale; No Certainty Of Deal
BAT could look at selling 2.3% stake
Alert: BAT Is British American Tobacco
Bharat Dynamics : Revenue At `1,777 Cr Vs `854 Cr but Margin and PAT falls
Nuvama Wealth : Profit (GU)78.6% ; Revenue (GU)16.4% ; Margin At 36% Vs 31.2% (YoY)
The Indian indices had a topsy-turvy day, bouncing between red and green.
The Nifty index closed at 24,826.20, declining by 174.95 points or 0.70%.
The Sensex, on the other hand, declined by 624.82 points, or 0.76%, closing at 81,551.63.
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