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EQUITY RESEARCHLAB:DERIVATIVE REPORT1ST JUNE http://equityresearchlab.com Call On: +918370098946
NIFTYFUTURE • Sensex closed 57.64 points down at 26,667.96, while NSE Nifty settled 18.40 points down at 8,160.10. Nifty snapped a 5-day gaining streak on Tuesday on account of the absence of any major positive triggers which could take the markets higher amid profit booking in frontline line blue-chip stocks. The sentiments also remained cautious ahead of March quarter GDP numbers and March fiscal deficit data, which are scheduled for release after the market hours. • Technical views: • Nifty future closed at 8190.90 on Tuesday. Nifty today trade above the range of 8000 and made a high of 8229.45 .nifty may be taste the new level of 8200-8500 in the month of June.
BANKNIFTYFUTURE • Bank nifty Open up at 17584.00, to its previous closing 17507.65 on Tuesday and touched high of 17640.05. Bank nifty technically break the 17500 level above that level if its manage or sustain above the level of 17000 than new high 17800-18200 might be seen. • Technical views: • The Indian rupee opened flat at 67.15 per dollar on Tuesday against previous close of 67.16. The continued hawkish Fed speak seems to be preparing the markets for a possible Fed hike soon. The USD-INR pair has been trading in the 67-67.50/dollar range with prospects of a good monsoon and possibility of GST bill getting passed in Monsoon session of Parliament helping the pair. We expect the pair to continue trading in this range in the near term.
USD/INR • The Indian rupee opened flat at 67.15 per dollar on Tuesday against previous close of 67.16. The continued hawkish Fed speak seems to be preparing the markets for a possible Fed hike soon. The USD-INR pair has been trading in the 67-67.50/dollar range with prospects of a good monsoon and possibility of GST bill getting passed in Monsoon session of Parliament helping the pair. We expect the pair to continue trading in this range in the near term. • USDINR STRATEGY R1 67.29 R2 67.42 • Pivot Point 66.49 S1 67.06 S2 66.96
EUROPEANMARKET • European markets finished lower on Tuesday with shares in Germany leading the region. The DAX was down 0.69% while London's FTSE 100 is down 0.64% and France's CAC 40 is down 0.05%.
ASIAN MARKET • Asian markets finished broadly higher today with shares in China leading the region. The Shanghai Composite is up 3.34% while Japan's Nikkei 225 is up 0.98% and Hong Kong's Hang Seng is up 0.90%.
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