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EQUITY RESEARCH LAB: DERIVATIVE REPORT 19TH MAY

NIFTY FUTURE

Sensex resumed lower at 25,671.48, and continued to trade in negative terrain and slipped to a low of 25,503.40 before ending 69 points or 0.27 per cent down at 25,704.61. Nifty index on the National Stock Exchange closed 20.60 points, or 0.26 per cent down at 7,870.15. Nifty snapped two-day gaining streak on Wednesday tracking subdued global markets after strong US inflation numbers and Federal Reserve comments raised fear of rate hike. The rupee which weakened for the fifth day against also weighed market sentiments.

Technical views:Nifty future closed at 7879.30 on Wednesday. Nifty today trade Between the range of 7850-7930 ,consolidation pattern may be follow for a short time .nifty may be show its new level of nifty may 8050-8150 in may contract.

NIFTY DAILY CHART

BANK NIFTY FUTURE

Bank nifty gap down in the morning trading session. And shown consolidation movement over the full trading session and closed at 16761.45 after consolidation. If Bank nifty manage the level of above 17000 ,bullish trend could be continue for next month. HDFC BANK (-1.11%) and AXIS BANK (-0.45%) is the top losers in bank nifty future.

Technical views:Bank nifty Open down at 1 6675.00, to its previous closing 16812.00 on Wednesday and touched high of 16798. Next level for bank nifty technically could be 17000-17400. if its manage or sustain above the level of 17000 than new high might be seen.

BANK NIFTY DAILY CHART

USD/INR

The Indian rupee opened at 2 months low at 66.95 per dollar on Wednesday. It has opened lower by 8 paise against previous close of 66.87. An uptick in US retail inflation along with firming up of oil prices have rekindled rate hike fears across markets. The underlying data being more supportive for a Fed rate hike. The near-term prospect of a hike is reflected in the rising dollar index and higher short-term US treasury yields. Rupee, consequently, is likely to trade with a weakening bias, in a range of 66.40-67.10/dollar this week. The US dollar dipped against a basket of major currencies after US Inflation data failed to convince currency traders that the Federal Reserve was moving closer to another interest rate hike.

USDINR STRATEGY R1 66.96 R2 67.05

Pivot Point 66.47 S1 66.82 S2 66.77

EUROPEAN MARKETEuropean markets finished higher with shares in Germany leading the region. The DAX was up 0.53% while London's FTSE 100 was up 0.50% and France's CAC 40 is lower by 0.03%

Asian markets finished broadly lower today with shares in Hong Kong leading the region. The Hang Seng is down 1.45% while China's Shanghai Composite is off 1.27% and Japan's Nikkei 225 is lower by 0.05%.

ASIAN MARKET

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