Market Outlook Report- 02nd Sept 2020 - Webflow
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Market Outlook Report- 02nd Sept 2020
Compiled by:
CapitalVia Global Research Limited- Investment Advisor
903, B-1, 9th Floor, NRK Business Park, Scheme No. 54, P.U.-4,Vijay Nagar Square,
Indore-452010 (M.P.)
Head of Research - Gaurav Garg
For feedback or queries, mail us at pr@capitalvia.com
Ph no.: (+91) 88273 92806
Indian Markets
Index Last High Low Change Change%
Nifty 11470.25 11553.55 11366.90 82.75 0.73%
Sensex 38628.29 40010.70 38395.89 -839.02 -2.13%
Banknifty 23812.00 24199.65 23473.15 57.65 0.24%
Nifty FUT 11528 11589.70 11373.00 126.05 1.10%
The benchmark index nifty opened with a gap up on 1ST September above 11400 and
remained volatile throughout the session, the news of AGR verdict drove telecom stocks up.
Overview
Nifty closed above 11400 close to the level of 11500, Investors must look for nifty sustaining
above 11500 which may pull Nifty upwards again.Global Markets
➢ Technology stocks drove European shares higher on Tuesday, but
sentiment was shaky ahead of key economic readings that are
Index Last High Low Change Change% likely to indicate an uneven recovery from the coronavirus.The
Dow 30 28,484 28,537 28,309 +60.02 +0.21% pan-European STOXX 600 index (STOXX) rose 0.7%, taking some
support from better-than-expected Chinese manufacturing data.
Nasdaq 11,755 11,829 11,697 +79.80 +0.68%
China-sensitive sectors such as basic resources (SXPP) and
DAX 13,012 13,125 12984 +60.02 +0.46% automobiles (SXAP) rose about 1% each.
FTSE 100 5902 5969 5897 -64.97 -1.09%
➢ Germany expects the economic devastation caused by the
COVID-19 pandemic to be less severe than originally feared this
year, but it now sees a weaker rebound for Europe's largest
Index S1 Pivot Points R1 economy next year, two sources told Reuters on Tuesday.The
government revised upward its economic forecast for 2020 to a
Dow 30 11756.33 11793.08 11811.46
decline of 5.8% from a previously expected slump of 6.3%, said two
Nasdaq 11756.33 11793.08 11811.46 people with knowledge of the figures.
DAX 12989.01 13057.28 13118.91
➢ Asian factories continued to shake off the coronavirus gloom in
FTSE 100 5901.79 5935.42 5955.24 August as more bright signs in China raised hopes of a firmer
recovery in global demand, reducing pressure on policymakers to
take bolder steps to avert a deeper recession.Currency Outlook
➢ USDINR September Future had a slightly gapped lower opening at
73.46 on Tuesday and traded in negative momentum in pre-
European session where it break below psychological level of 73
and made a low at 72.92 closed at 73.17. Overall, USDINR spot has
traded in moderately negative trend.
➢ USD/INR Future has closed above Support-line of 15-SMA on hourly
chart placed at 73.13 which will be strong support level for USDINR in
next session, whereas 73.25 would be immediate resistance for
pair. On daily chart, USDINR future has closed below 21-SMA line
placed at 74.58. The momentum indicator is plunged to 21 daily
chart which indicates further bearish momentum in pair if it breaks
below support level.
➢ As per current market action, USDINR Future is likely have flat
opening around 73.20 on Wednesday and if it breaks above
resistance then we may expect more positive momentum towards
next resistance around 73.30 in pair. The trading range for pair is
Chart : Zerodha.com likely to be in between 73.10 – 73.30 in upcoming session .Derivative Outlook
⮚ Nifty ended in green on Tuesday,1st September.Nifty bounced back from the support level
despite weaker than expected GDP growth data for the June quarter.At closing ,Nifty advanced
0.73 percent at 11470.25.Among sectoral indices,Nifty Metal and Pharma were the top gainers
while Nifty IT was the top loser.
⮚ In the coming trading session on Wednesday ,1st September., We are expecting Nifty to trade in
the range of 11400-11600..On the daily chart,Nifty formed a long legged Doji candle.On the
downside,nearest support is placed at 11310,if Nifty manages to hold this support ,we can further
expect positive momentum to continue till 11800.But,if Nifty closed below 11300,we can then
expect downside move to continue till 11100 .
⮚ Highest Daily Nifty Put OI-11400
⮚ Highest Daily Nifty Call OI-12000
Long built-up:
Scrip Name Closing price Change in price Change in OI
ASHOKLEY 69.45 1.83% 20.32%
JINDALSTEL 219 6.49% 16.78%
MFSL 606 2.76% 14.49%Short built-up:
Scrip Name Closing price Change in Change in OI
price
MGL 894.00 -3.98% 44.23%
VOLTAS 636.55 -0.18% 19.20%
ITC 191.50 -0.10% 18.82%
Short covering:
Scrip Name Closing price Change in price Change in OI
TORNTPOWER 341.40 2.14% -7.51%
MANAPPURAM 154.80 4.10% -5.85%
RAMCOCEM 698.75 13.25% -1.93%
Long Unwinding:
Scrip Name Closing price Change in price Change in OI
L&TFH 66.70 -0.74% -1.3%
TECHM 734.90 -1.25% -0.63%Nifty Option Chain
Analysis :
⮚ Nifty closed above 11400 on Tuesday,1st September..As per
monthly OI data,We expect Nifty immediate trading range
is 11000-12000 .Maximum Put open interest was at 11,000
followed by 11500 strike, while maximum Call open interest
was at 12000 followed by 11500 strike. Marginal Call writing
was seen at 11400 and 11600 strikes while Minor Put writing
was seen at 11700 followed by 11400 strike..IndiaVIX
declined 4.55 percent to close at 21.80.
Source: www.bloombergquint.comNifty Option Chain
Analysis :
➢ As per monthly option data , Nifty should trade in the range of
9000-10000 . Maximum Put writing can be seen at 9000 and
Maximum call writing can be seen at 10000
➢ Nifty closed with gains on Wednesday,6th May. We expect Nifty to
be range bound , Volatility is most likely to increase in the coming
trading session. Indecisiveness can be seen in the market as
trading range of Nifty is getting smaller. As per weekly option data,
nearest support can be seen at 9200 and on the higher side,
resistance can be seen at 9400.
Source: www.bloombergquint.comGlobal Markets
Index Last High Low Change Change%
Dow 30 23783.44 24054.59 23782.28 -99.65 -0.42% ➢ U.S. stocks opened higher on hopes of a pickup in business activity
with states easing Coronavirus-induced curbs, while investors
Nasdaq 8825.55 8913.85 8819.37 17.76 0.20%
looked past a stunning 20 million plunge in U.S. private payrolls last
DAX 10615.73 10771.68 10604.90 -111.74 -1.08% month.
FTSE 100 5850.80 5898.33 5838.70 0.88 0.02%
➢ European stock markets traded slightly lower on Wednesday amid
weak economic data, while better than expected earnings helped
the U.K. to outperform.
Index S1 Pivot Points R1
➢ German factory orders slumped 15.6% in March to their lowest level
Dow 30 23760.10 23906.82 23996.82
since records began in 1991, while IHS Markit's final Composite
Nasdaq 8840.29 8876.96 8901.71 Purchasing Managers' Index for the euro zone, seen as a good
indicator of economic health, plummeted to 13.6 in April from
DAX 10624.80 10676.20 10704.30
March's already dire 29.7, easily its lowest reading since the survey
FTSE 100 5850.41 5874.37 5889.24 began in 1998.Disclosure
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