Market Outlook Report- 08th Feb 2021 - Webflow
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Market Outlook Report- 08th Feb 2021
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 15109.30 15257.10 15064.30 -6.50 0.04%
Sensex 51329.08 51835.86 51193.93 -19.69 0.04%
Banknifty 36056.50 36477.15 35636.85 72.85 0. 20%
Nifty FUT 15103.80 15266.00 15062.40 -22.60 0.02%
Nifty opened on a positive note on 9th February 2021 and crossed the level of 15200 but could
not sustain above it, the markets sustained on higher levels for first half but later took a
Overview
correction. The level of 15100 seems to be good support as of now and resistance seems to
be 15250. Investors may buy on dips and once Nifty sustains above 15150.
Global Markets
➢ Asian stock markets rose on Tuesday after a record-setting day on Wall
Index Last High Low Change Change% Street, while bitcoin paused for breath after an overnight endorsement
from Tesla (NASDAQ:TSLA) Inc sent the cryptocurrency up 20%.
Dow 30 31,385.76 31,386.10 31,191.20 +237.52 +0.76%
Nasdaq 13,987.64 13,987.74 13,894.15 +131.35 +0.95% ➢ European shares dipped on Tuesday as a recent rally powered by
hopes of a swifter global economic recovery and vaccine roll-outs
DAX 14,010.90 14,062.90 14,009.90 -49.01 -0.35%
showed signs of cooling, while shares in French oil major Total rose
FTSE 100 6,521.85 6,537.99 6,497.28 -1.68 -0.03% after its earnings recovered in the fourth quarter.
➢ Japan stocks were higher after the close on Tuesday, as gains in
Index S1 Pivot Points R1 the Paper & Pulp, Railway & Bus and Real Estate sectors led shares
higher.
Dow 30 31319.14 31350.28 31412.56
Nasdaq 13951.60 13968.56 14002.48
➢ The Dow rallied to record highs on Monday, led by value sectors like
DAX 14013.56 14038.23 14054.56 energy and financials on growing expectations for further stimulus at
a time when Covid-19 infections in the U.S. continue to slow.
FTSE 100 6506.55 6522.27 6547.26Currency Outlook
➢ The Indian Rupee appreciated against the U.S. Dollar this Tuesday,
tracking a further decline in the dollar index amid prospects of
more U.S. fiscal stimulus. Meanwhile, other Asian currencies were
strong this Tuesday and lent support. The Rupee ended at 72.89
compared with 72.96 in the previous session. The Rupee had
strengthened to 72.85 earlier in the session.
➢ Technically, the USDINR Spot pair traded in a narrow range 72.85-
72.95 level indicating a sideways momentum to continue in the
markets. support is at 72.75-72.58. Resistance is at 73.05-73.20
levels. The one-year forward premium has risen consistently in the
last few sessions and hit 3.75 rupees today, the highest since
September 2016, and against 3.65 rupees on Monday. The Dollar
struggled this Tuesday afternoon trade amid prospects of a large
U.S. fiscal stimulus package.
➢ In our anticipation, USDINR future is likely have gapped down
Chart : Zerodha.com opening around 72.96 – 72.98 in next trading session and if it takes
support around 72.90 then we may expect some more bullish
movement towards 73.20 – 73.25. The trading range for pair is
likely to be in between 72.90 – 73.10 in upcoming session.Derivative Outlook
⮚ Market indices remained positive hitting record highs in the early hours before giving away all its gains as on
Tuesday, 9th February. Nifty ends flat but managed to sustain above 15,000 level settling with a marginal loss of
around 0.04 percent. Among sectors, except banking and financial stocks, all other indices ended in red.
⮚ In the coming trading session on Wednesday, 10th February the overall trend in the market is expected to be
bullish with small corrections. Nifty must sustain above 15,000 level to witness further upswing in the prices
where resistance could be seen at 15,300. Some profit booking could be witness in the market while the initial
support in the index remains at 15,000 level.
⮚ Highest Daily Nifty Call OI-15,500
⮚ Highest Daily Nifty Put OI-14,500
Long built-up:
Scrip Name Closing price Change in price Change in OI
IDEA 12.00 2.13% 3.49%
PNB 38.80 1.97% 7.95%
FEDERALBNK 83.20 0.18% 5.14%Short built-up:
Scrip Name Closing price Change in price Change in OI
ITC 227.25 -1.69% 13.50%
BANKBARODA 79.65 -0.75% 11.20%
ZEEL 217.20 -1.32% 9.01%
Short covering:
Scrip Name Closing price Change in price Change in OI
IDFCFIRSTB 50.05 2.04% -1.16%
JINDALSTEL 312.35 1.33% -3.15%
TATACONSUM 598.85 0.03% -0.47%
Long Unwinding:
Scrip Name Closing price Change in price Change in OI
SUNTV 520.30 -4.92% -8.22%
BHEL 38.60 -3.26% -0.75%
SAIL 67.60 -0.44% -0.86%Nifty Option Chain
Analysis :
⮚ Nifty closed on a flat note with marginal loss of around 0.04
percent as on Tuesday, 9th February. The options data indicates
immediate trading range of the Nifty is likely to be 14,700 – 15,300.
Maximum Put open interest was at 14,500 followed by 15,000 strike,
while maximum Call open interest was at 15,500 followed by 15,000
strike. Call writing was seen at 15,200 and 15,300 strikes while Put
writing was seen at 14,900 and 15,000 strikes. IndiaVIX gained 1.30
percent and close at 24.27.
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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