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EQUITY RESEARCHLAB:DERIVATIVE REPORT14TH JUNE http://equityresearchlab.com Call On: +918370098946
NIFTYFUTURE • Sensex closed 1.06 points down at 26,395.71, while Nifty 50 index settled 1.75 points down at 8,108.85. Nifty swung between gains and losses on Tuesday and ended the trade on a flat note as Brexit worries continued to affect global markets. Investors also remained cautious ahead of US Fed meet .Shares of PSU banks soared after the RBI came out with a scheme for resolution of bad loans of large projects wherein a portion of the debt will be converted into equity or other instruments. The Nifty PSU Bank index gained 3.16 per cent to 2557.05. Sectorwise, the BSE Oil & Gas index, IT index and TECK index gained 0.52 per cent, 0.42 per cent and 0.37 per cent, respectively. The BSE Realty and Healthcare index gained 0.84 per cent and 0.51 per cent, respectively. • Technical views: • Bank nifty Open up at 17664.00, to its previous closing 17562.15 on Tuesday and touched high of 17695.00. 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.
BANKNIFTYFUTURE • Bank nifty open flat in the morning trading session. And shown consolidation movement over the full market hour’s and closed at 17538.40. In the last one hour’s bank nifty shows bullish trend and made a high of 17695.00.Bank nifty showing consolidation phase on daily chart ,bank nifty may be trade in the range of 17600-17900 in next contract. SBI BANK (2.92%) and BANK OF BARODA(1.85%) is the top gainers in bank nifty future. • Technical views: • Bank nifty Open up at 17664.00, to its previous closing 17562.15 on Tuesday and touched high of 17695.00. 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.
USD/INR • The Indian rupee opened lower by 6 paise at 67.19 per dollar on Tuesday versus previous close of 67.13. The risk-off sentiment is quite evident owing to the uncertainty about Brexit referendum. Also, the June FOMC meeting, starting today, is expected to keep policy rates unchanged, but the markets will be looking for cues about the timing of hikes.The USD-INR pair is back above 67/dollar on the back of global risk-off sentiment. We expect the USD-INR pair to trade in the range of 67-67.50/dollar in the short term. • USDINR STRATEGY R1 67.25 R2 66.36 • Pivot Point 67.07 S1 66.72 S2 67.00
EUROPEANMARKET • European markets finished broadly lower today with shares in Germany leading the region. The DAX is down 1.45% while London's FTSE 100 is off 2.05% and France's CAC 40 is lower by 2.34%.
ASIAN MARKET • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.32%, while the Nikkei 225 led the Hang Seng lower. They fell 1.00% and 0.61% respectively.
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