NIFTY TIPS

EQUITY RESEARCH LAB: DERIVATIVE REPORT 3RD MAY

NIFTY TIPSSensex closed 169.65 points down at 25,436.97, while NSE Nifty settled 43.90 points down at 7,805.90. Nifty closed in red on Monday after manufacturing sector activity dropped to a four-month low in April amid disappointing corporate results and weak global cues. Traders were seen buying in consumer durables, metal and oil & gas stocks while selling was witnessed in banking, IT, realty and TECK sector stocks.

Technical views:Nifty future closed at 7840.10 on Monday. Nifty today trade to its support of 7850 ,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 FUTURE

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NIFTY DAILY CHART

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BANK NIFTY FUTURE

Bank nifty open gap down in the morning. And trade consolidated in the full trading hour’s and closed at 16620.80. If Bank nifty manage the level of above 17000 ,bullish trend could be continue for next month. ICICI BANK (-4.30%) and SBI BANK (-1.59%) is the top losers in bank nifty future.

Technical views:Bank nifty Open down at 16720.45, to its previous closing 16888.35 on Friday and touched high of 16756.25. Next level for bank nifty technically could be 17400-17800. if its manage or sustain above the level of 17000 .

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BANK NIFTY DAILY CHART

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USD/INR

The Indian rupee opened lower by 8 paise at 66.41 per dollar on Monday against 66.33 Friday. The rupee is likely to extend consolidation over the week, with softness in dollar strength aiding the currency. US Jobs data will be eyed, as the Fed, in its last week's policy, remained non committal on path of future rate trajectory. The yen traded close to its strongest level in more than 18 months on concern over the global economy. Yen holds below 107 per dollar after touching its strongest level since October 2014.

USDINR STRATEGY R1 66.42 R2 66.51

Pivot Point 66.47 S1 66.27 S2 66.21

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EUROPEAN MARKET

European markets finished higher on Monday on Friday with shares in France leading the region. The CAC 40 is up 0.31% while Germany's DAX is up 0.83%.

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ASIAN MARKET

Asian markets finished broadly lower on Friday with shares in Japan leading the region. The Nikkei 225 is down 3.61% while Hong Kong's Hang Seng is off 1.50% and China's Shanghai Composite is lower by 0.25%..

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