Market Outlook Report- 22nd Jan 2021 - Webflow
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Market Outlook Report- 22nd Jan 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 14590.35 14753.55 14517.25 -54.35 -0.37%
Sensex 49624.76 50184.01 49398.86 -167.36 -0.34%
Banknifty 32186.90 32842.30 31985.55 -356.80 -1.10%
Nifty FUT 14631.15 14765.45 14508.30 -14.00 -0.10%
Nifty opened with a gap up on 21st January and sustained above the level of 14700
Overview
for the first half and later took a correction and closed below 14600. The effect of
expiry session could be seen coupled with profit booking involved. The immediate
support would be 14400 and resistance is in the range of 14750-14800. Investors
may buy once Nifty sustains above 14600.
Global Markets
Index Last High Low Change Change% ➢ British shares tracked gains in Asian peers on Thursday, lifted by
hopes of a swifter economic rebound this year and more U.S.
Dow 30 31,188.38 31,235.98 30,997.79 +0.83% +257.86
stimulus, while Pets at Home headed higher after reporting
Nasdaq 13,457.25 13,486.13 13,329.77 +1.97% +260.07
upbeat quarterly results.
DAX 13,967.20 14,028.20 13,950.20 +0.33% +46.33
➢ European stocks extended gains on Thursday on hopes of a
FTSE 100 6,733.85 6,779.59 6,726.05 -0.10% -6.14
large U.S. stimulus plan under new President Joe Biden, while
investors looked to the European Central Bank (ECB) for clues on
the eurozone's economic health
Index S1 Pivot Points R1
Dow 30 31144.96 31190.47 31241.24
➢ Asian and Wall Street peers hit record highs after Biden took
Nasdaq 13452.36 13469.14 13478.17
office on Wednesday and signed half a dozen executive orders
DAX 13927.20 13977.70 14004.70 that included America's return to the international Paris
FTSE 100 6713.94 6722.16 6728.87 Agreement to fight climate change.Currency Outlook
➢ The rupee opened on positive at 72.90 against the US dollar in opening
trade on Thursday morning tracking weakness in dollar index, On
Wednesday it was closed at 72.964 against greenback, the rupee
appreciated 0.2% this Wednesday, it was best day since Dec. 31.
➢ FII bought 2289.05 into domestic equity market on Wednesday which
supported rupee to close below psychological level of 73.00. During
meeting newly treasury secretary Janet Yellen agrees that for need of
another large fiscal package to shaping up the economy. Technically, the
USDINR Spot open gap up and traded negative throughout the day. It is
sustaining below 73.00 levels indicating a negative momentum may
continue in the today’s session. However, if it breaks the resistance of 73.10
then it may go up toward 73.27. Support is at 72.82 – 72.68 levels for the
spot pair. Resistance for the pair is 73.10.
➢ The Indian Rupee may start on positive note against the Greenback amid
the dollar index reaching a near one-month high on risk aversion. Then
we may expect some more bullish movement towards 73.50 levels. The
Chart : Zerodha.com trading range for pair is likely to be in between 73.25 – 73.60in upcoming
session.Derivative Outlook
⮚ Market indices failed to hold its rally and closed on a negative note as on Thursday, 21st
January. Nifty plunged down from 14,750 level in the late hours and settled with a loss of
around 0.37 percent. Among sectors, all sectoral indices closed on a negative note with
PSU bank being the top loser which declined more than 3 percent.
⮚ In the coming trading session on Friday, 22nd January market is expected to be volatile
with small corrections. The resistance zone for Nifty would be 14,700 to 14,750 while on the
lower side 14,500 would be the immediate support level for the index which must be
sustained by the index.
⮚ Highest Daily Nifty Call OI-15,000
⮚ Highest Daily Nifty Put OI-14,000
Long built-up:
Scrip Name Closing price Change in price Change in OI
TATAMOTORS 292.10 6.06% 8.27%
NATIONALUM 48.40 5.79% 5.96%
AXISBANK 680.45 0.64% 3.90%Short built-up:
Scrip Name Closing price Change in price Change in OI
BHEL 39.00 -4.29% 9.19%
ONGC 95.80 -3.09% 10.36%
ASHOKLEY 120.20 -1.44% 7.13%
Short covering:
Scrip Name Closing price Change in price Change in OI
ICICIBANK 553.95 0.29% -1.67%
MCDOWELL-N 633.50 1.82% -1.51%
UPL 587.75 1.71% -1.07%
Long Unwinding:
Scrip Name Closing price Change in price Change in OI
IDEA 12.90 -3.73% -3.60%
PNB 35.95 -3.23% -5.65%
GRASIM 1026.00 -1.10% -27.33%Nifty Option Chain
Analysis :
⮚ Nifty closed with a loss of around 0.37 percent as on
Thursday, 21st January. The options data indicates
immediate trading range of the Nifty is likely to be
14,500 – 15,000. Maximum Put open interest was at
14,000 followed by 14,500 strike, while maximum Call
open interest was at 15,000 followed by 14,800 strike.
Call writing was seen at 14,600 and 14,700 strikes while
Put writing was seen at 14,500 and 14,400 strikes.
IndiaVIX gained 2.92 percent and close at 22.18.
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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