Market Outlook Report- 19th MAR 2021 - Webflow
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Market Outlook Report- 19th 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 14557.85 14875.20 14478.60 -163.45 -1.11%
Sensex 49216.52 50296.35 48962.36 -585.10 -1.17%
Banknifty 34229.25 35100.50 34126.85 -575.35 -1.65%
Nifty FUT 14604.00 14900.25 14506.50 -167.30 -1.13%
The benchmark indices opened with a gap up on 18th March 2021, but the expiry session took
its toll on the Indices with Indices seemingly on a freefall but later recovered by end of the
Overview
session. The level of 14500 seems to be an important support. Investors may adopt the
strategy of buy on dips in the present circumstances.
Global Markets
Index Last High Low Change Change% ➢ “It’s sort of shocking... that officially the U.S. government believes it will
grow faster than the Chinese government believes it will grow this year,”
Dow 30 33,015.37 33,047.58 32,782.18 +189.42 +0.58%
Barings Investment Institute chief global strategist Christopher Smart
Nasdaq 13,525.20 13,595.00 13,272.69 +53.63 +0.40% told Reuters, adding that it was a “head-turning moment for investors.”
DAX 14,708.12 14,754.30 14,668.30 +111.51 +0.76%
➢ European stock markets are seen opening mixed Thursday, with investors
FTSE 100 6,784.49 6,805.82 6,772.35 -19.12 -0.28% digesting a reassuring statement from the Federal Reserve as well as
problems with the region’s Covid vaccination program.
Index S1 Pivot Points R1 ➢ Asia Pacific stocks were mostly up Thursday morning, as investors
digested the U.S. Federal Reserves’ latest dovish policy decision
Dow 30 32969.67 33006.13 33046.52
Nasdaq 13478.36 13536.66 13581.79
DAX 14585.40 14595.10 14606.30
FTSE 100 6768.12 6786.97 6801.59Currency Outlook
➢ The USD/INR pair resumed its downward trend, opening the day at
72.48 against a close of 72.5450 on Wednesday. The currency pair is
currently unaffected by an increase in the US Treasury yield to a 13-
month high of 1.6850 percent, with 1.67 percent being the current rate.
The threat of a second Covid-19 peak emerging is very real, limiting
any strong up move in local stocks and possibly limiting the USD/INR
down move.
➢ As Indian traders cheer the dovish Fed during early Thursday, the
USD/INR rises to 72.51, up 0.32 percent intraday. The RSI's bounce off
the oversold area may also be a factor in the quote's biggest jump in
eight days. To gain conviction, USD/INR buyers must confirm the
bullish chart trend, the dropping wedge, by crossing the 72.55
resistance line.
➢ USD/INR opened on a negative note today and is trading with bullish
Chart : Zerodha.com
momentum since morning session, prices are trading adjacent to 15-
SMA level on hourly chart , we may expect some bearish momentum
in short run if prices cross this level and sustain below it. On theDerivative Outlook
⮚ After opening with a gap-up, market indices tumbled and witnessed freefall closing the day on a negative note
as on Thursday, 18th March. Nifty closed with a loss of around 1.11 percent breaching major support of 14,500 level.
All the sectoral indices ended on a negative note, except FMCG and metal which closed on a flat note.
⮚ In the coming trading session on Friday, 19th March short-term correction could be seen in the market with
sentiments continue to remain weak. Nifty if fails to sustain 14,500 level could witness a downswing till 14,400 to
14,350 level. On the higher side, 14,700 could be the major level which must be sustained by the index to witness
a bounce-back and regain momentum.
⮚ 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
IDEA 10.00 1.52% 5.33%
BHEL 52.55 4.79% 3.85%
NATIONALUM 55.15 1.10% 5.21%Short built-up:
Scrip Name Closing price Change in price Change in OI
ASHOKLEY 114.00 -2.77% 15.99%
VEDL 222.95 -0.96% 2.77%
GMRINFRA 25.35 -3.43% 2.47%
Short covering:
Scrip Name Closing price Change in price Change in OI
PNB 38.05 0.13% -2.28%
ITC 219.00 3.74% -1.52%
JSWSTEEL 426.00 0.69% -1.33%
Long Unwinding:
Scrip Name Closing price Change in price Change in OI
IDFCFIRSTB 59.60 -2.30% -2.47%
NMDC 133.45 -0.11% -2.44%
CHOLAFIN 530.50 -0.33% -9.83%Nifty Option Chain
Analysis :
⮚ Nifty ends the day on a negative note with a loss of around 1.11
percent as on Thursday, 18th March. The options data indicates
immediate trading range of the Nifty is likely to be 14,500 – 15,000.
Maximum Put open interest was at 14,500 followed by 15,000 strike,
while maximum Call open interest was at 15,000 followed by 15,200
strike. Call writing was seen at 14,600 and 14,700 strikes while Put
writing was seen at 14,500 and 14,600 strikes. IndiaVIX declined 0.38
percent and close at 20.08.
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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