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EQUITY RESEARCH LAB: DERIVATIVE REPORT 22ND JUNE

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NIFTY FUTURESensex closed 54.14 points down at 26812.78, while Nifty 50 index settled 18.60 points down at 8,219.90. Nifty settled in red on Tuesday on account of profit-booking by investors in recent gainers. Investors also remained wary ahead of Thursday’s British vote, as well as Federal Reserve chief Janet Yellen’s two-day testimony before Congress starting later on Tuesday, as she might offer clues on the timing of the next US interest rate increase. However, losses remained capped as investors getting some support with report of weather department – India Meteorological Department saying that monsoon rains have covered nearly half of the country, accelerating planting of summer crops like paddy rice, soybeans, cotton and pulses.

Technical views:Nifty future closed at 8225.10 on Tuesday. Nifty today trade between the range of 8150- 8250 and made a high of 8253. nifty may touch the new high of 8300-8500 in this month of June.

NIFTY DAILY CHART

BANK NIFTY FUTURE

Bank nifty open flat in the morning trading session. And shown Consolidation movement over the full market hour’s and closed at 17623.10.Bank nifty showing consolidation phase on daily chart ,bank nifty may be trade in the range of 17600-17900 . above the 18000 new level may be seen. INDUSIND BANK (-1.17%) and BANK OF BARODA (-1.15%) is the top losers in bank nifty future.

Technical views:Bank nifty Open flat at 17715.30, to its previous closing 177208.35 on Tuesday and touched high of 17754.85. Bank nifty technically break the 17500 level above that level if its manage or sustain above the level of 17000 than new high 17800-18200 might be seen.

BANK NIFTY DAILY CHART

USD/INRThe Indian rupee opened lower by 9 paise at 67.40 per dollar on Tuesday versus 67.31 Monday. The Indian markets seem to have taken the Rexit in their stride with equity, bond and currency markets coming off the in intra-day lows, in tandem with the global risk-on sentiment, as Brexit fears have eased substantially. The USD-INR pair after hitting 67.70/dollar closed at 67.30/dollar, on suspected support from RBI. We expect the pair to trade in the 67-68/dollar range with a weakening bias." The pound retreated after its strongest surge since 2008, as polls published early today highlighted that the "leave" campaign retains strong support. Meanwhile the yen continues to strengthen.

USDINR STRATEGY R1 67.46 R2 67.61

Pivot Point 67.41 S1 67.26 S2 67.21

EUROPEAN MARKETEuropean markets finished broadly higher on Tuesday with shares in London leading the region. The FTSE 100 is up 0.36% while France's CAC 40 is up 0.61% and Germany's DAX is up 0.53%.

ASIAN MARKETAsian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 1.28% and the Hang Seng rose 0.77%. The Shanghai Composite lost 0.35%.

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