Market Outlook Report- 10th MAR 2021 - Webflow
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Market Outlook Report- 10th MAR 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 14956.20 15126.85 14925.45 142.20 0.95%
Sensex 50441.07 51111.94 50396.10 584.41 1.16%
Banknifty 35275.75 36077.80 35544.95 589.90 1.67%
Nifty FUT 14969.00 15179.85 14953.25 176.00 1.18%
Nifty opened with a gap-up after which tumbled below 14,950 but regained momentum in the
late hours to close with an overall gain of around 0.95 percent as on 9th March 2021. Index
Overview
witnessed a highly volatile session and rebounded from lower level. 14,900 would be the
immediate support level for the index in the coming session with the resistance of 15,200 level.
Global Markets
Index Last High Low Change Change% ➢ U.S. Treasury yields have been advancing as investors price in higher
inflation and more upbeat prospects for the U.S. economy as it emerges
Dow 30 31,802.44 32,148.04 31,512.15 +306.14 +0.97%
from the coronavirus pandemic.On foreign exchange markets, the dollar
Nasdaq 12,609.16 13,001.00 12,599.23 -310.99 -2.41% index held near a 3-1/2-month high against its rivals as expectations of a
faster economic normalisation from the pandemic in the United States
DAX 14,384.75 14,386.75 14,309.70 +3.84 +0.03%
put the currency at an advantage.
FTSE 100 6,732.80 6,735.95 6,689.51 +13.67 +0.20%
➢ European stock markets are seen opening a little lower Tuesday, as
investors digest another leg down for tech stocks and disappointing
Index S1 Pivot Points R1 Japanese growth, even after further progress in the U.S. stimulus
package.
Dow 30 31715.61 31859.58 31931.56
➢ Asian stocks recovered from earlier losses on Tuesday, lifted by firmer
Nasdaq 12878.77 12909.84 12948.36
U.S. equity futures and central bank comments aimed at soothing fears
about rising bond yields and inflation.
DAX 12878.77 12909.84 12948.36
FTSE 100 6578.17 6586.81 6650.17Currency Outlook
➢ In early trade on Tuesday, the Indian rupee rose to 72.89 against the
US dollar, owing to rising domestic equities and continued foreign
fund inflows. Foreign portfolio investors (FPIs) were net buyers in the
capital market as they purchased shares worth Rs 1,876.60 crore on
Monday, as per exchange data. The dollar index fell 0.21% to 90.73.
➢ Given the quote's recent pullbacks from the 100-day EMA, combined
with a downward sloping RSI, USD/INR sellers may try to reclaim the
previous resistance line from November 04, which is currently at
72.80.
➢ Any more weakness above 72.80, however, could lead to a retest of
February's low, which was also the lowest since March 2020, at 72.17.
Meanwhile, an upside break of the 100-day EMA level of 73.34 would
need confirmation from the 74.00 threshold before the USD/INR bulls
can target the 74.10 and 74.20 tops set in late 2020 and February 2021,
Chart : Zerodha.com
respectively.Derivative Outlook
⮚ Market indices plunged down below 14,950 level after a gap-up opening but rebounded from lower level in the
late hours as on Tuesday, 9th March. Nifty witnessed sluggish movement and settled with an overall gain of
around 0.95 percent. On the sectoral front except Banks, FMCG and IT, all other sectoral indices ended lower.
⮚ In the coming trading session on Wednesday, 10th March market may remain volatile amid weekly contract
expiry. 14,900 would be the immediate support level for Nifty whereas resistance zone could be in the range of
15,200 to 15,250. Nifty may remain range-bound until and unless a breakout above the 15,100 level is sustained by
the index.
⮚ Highest Daily Nifty Call OI-15,000
⮚ Highest Daily Nifty Put OI-14,500
Long built-up:
Scrip Name Closing price Change in price Change in OI
RBLBANK 246.25 0.43% 6.80%
HCLTECH 982.05 1.72% 5.76%
RECLTD 144.95 1.08% 5.83%Short built-up:
Scrip Name Closing price Change in price Change in OI
BPCL 445.00 -5.05% 101.90%
IDEA 10.15 -3.79% 1.38%
VEDL 225.55 -0.24% 4.18%
Short covering:
Scrip Name Closing price Change in price Change in OI
BHEL 55.50 2.12% -1.45%
HDFCBANK 1564.75 2.61% -2.74%
ADANIPORTS 752.80 0.26% -1.17%
Long Unwinding:
Scrip Name Closing price Change in price Change in OI
PNB 40.10 -1.23% -0.67%
BANKBARODA 81.45 -1.75% -0.74%
ITC 208.75 -0.19% -0.59%Nifty Option Chain
Analysis :
⮚ Nifty ends the day with a gain of around 0.95 percent as on
Tuesday, 9th March. The options data indicates immediate trading
range of the Nifty is likely to be 14,800 – 15,500. Maximum Put open
interest was at 14,500 followed by 15,000 strike, while maximum Call
open interest was at 15,000 followed by 15,500 strike. Call writing
was seen at 15,000 and 15,100 strikes while Put writing was seen at
14,900 and 14,800 strikes. IndiaVIX declined 8.83 percent and close
at 22.50.
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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