EQUITY RESEARCH LAB DERIVATIVE REPORT 5TH

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NIFTY FUTURE

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Sensex closed 463.63 points up at 24242.98, while Nifty settled 146.55 points up at 7368.85. Sensex continued its post-Budget rally for the second straight day and surged over 2 per cent to get past the 24,000-mark on Wednesday in anticipation of policy easing by RBI amid positive global markets. Heavy buying in banking stocks on account of the Reserve Bank of India’s easing capital recognition norms for banks also supported overall market sentiments. Among the other major gainers were IT, capital goods, power, oil & gas and metals stocks. Only the FMCG index ended with losses.

• Technical views:Nifty future closed at 7460.35 on Friday. Nifty may be trade in between the7000-7500 range in march series. March series started with maximum open interest at 7500 call and 7000 put. Below the level of l one short Fall may be seen in nifty future, Nifty future may be taste new level of 6800-6700.

NIFTY DAILY CHART

BANK NIFTY FUTURE

Bank Nifty rose 244.25 point (1.61%) and closed at 15328.45 on Friday . bank nifty shown bullish movement in the full trading session. Banking stocks gained on Reserve Bank of India’s easing capital recognition norms for banks amid ropes of a rate cut. SBI BANK (3.09%) and BANK OF BARODA (2.41%) is the top gainers in bank nifty future.

• Technical views:Bank nifty shown technically recovery trend in daily time frame bullish trend in bank nifty will be seen above the level of 15700-15800.

BANK NIFTY DAILY CHART

USD/INR

The Indian rupee gained further in the early trade on Friday. It opened higher by 11 paise at 67.23 per dollar versus previous close 67.34. We expect rupee to test 67.20/dollar levels. This may act as a technical hurdle and we expect some weakness post this level. Any profit booking in domestic equities will also help dollar gain. We expect the USD-INR to trade in a range of 67.20-67.80/dollar today.

USDINR STRATEGY R1 67.41 R2 67.50

Pivot Point 68.58 S1 67.15 S2 66.98

EUROPEAN MARKET

European markets finished broadly higher on Friday with shares in London leading the region. The FTSE 100 is up 1.13% while France's CAC 40 is up 0.92% and Germany's DAX is up 0.74%.

ASIAN MARKET

Asian markets finished broadly higher on Friday with Shares in Hong Kong leading the region. The Hang Seng is up 1.18 while China's Shanghai Composite is up 0.50% and Japan's Nikkei 225 is up 0.32%.

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