Market Outlook Report- 20th Oct 2020 Compiled by: Webflow
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Market Outlook Report- 20th Oct 2020
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 11873.05 11898.25 11820.40 110.60 0.94%
Sensex 40431.60 40125.71 39669.42 254.57 0.64%
Banknifty 40318.57 40519.48 40211.22 448.62 1.12%
Nifty FUT 11892.50 11898.90 11818.50 127.35 1.08%
Nifty opened with a gap up on 19th October and remained range bound within
the range of 11800-11900. The level of 11900 is playing a crucial role and is
Overview
holding ground above 11800, nifty is expected to reach 12000 once it breaches
and sustains the level of 11900.Investors may buy on dips and sell at the levels
of 11950-12000.
Global Markets
Index Last High Low Change Change%
Dow 30 28,606.31 28,842.90 28,570.72 +0.39% +112.11 Global shares rose on Friday while safe-havens such as the
dollar softened as investors welcomed news that drugmaker
Nasdaq 11,671.56 11,827.42 11,648.53 -0.36% -42.31
Pfizer Inc (NYSE: PFE ) PFE.N could have a coronavirus vaccine
12,945.35 ready in the United States by the end of this year..
DAX 13,028.45 12,925.80 +0.29% +39.91
European stocks rallied on Monday as rising hopes of a
FTSE 100 5,925.12 5,959.55 5,918.55 +0.10% +6.26
coronavirus vaccine by the end of the year and a U.S. fiscal
package before elections offset concern over record daily
Index S1 Pivot Points R1
infections in the region..
Dow 30 28550.91 28665.41 28727.36
Asian markets advanced toward a recent 2-1/2-year peak on
Nasdaq 11605.79 11691.28 11734.03 Monday powered by hopes of a U.S. fiscal package and
expectations of a coronavirus vaccine by the end of this year,
DAX 12922.34 12946.87 12967.94 though gains were held back by weaker-than-expected Chinese
economic data.
FTSE 100 5918.11 5929.43 5937.81
Currency Outlook
USDINR October Future had a flat opening at 73.41 on Monday and
traded in moderately positive momentum in morning session
session where it made a High at 73.48 and then had a sharp sell-
off post European session and closed on a negative note at 73.37.
Overall, USDINR spot has traded in moderately bearish trend.
USD/INR Future has closed below Resistance-line of 15-SMA on
hourly chart placed at 73.41 which will be immediate resistance
level for USDINR in next session, whereas 73.33 would be strong
support for pair. The USDINR future closed below 21-SMA placed at
73.51 on daily chart. The momentum indicator is ranging around 40
on daily chart which indicates positive momentum in pair if it
breaks above resistance levels.
As per current market action, USDINR future is likely have flat
opening around 73.35 on Tuesday and if it breaks above resistance
level then we may expect more bullish momentum towards 73.60.
The trading range for pair is likely to be in between 73.30 – 73.45 in
Chart : Zerodha.com upcoming session.
Derivative Outlook
⮚ After giving a gap-up opening, Nifty remains range-bound throughout the session on Monday, 19th
October. Nifty traded in the range of 11,800 to 11,900 and ends with the gain of around 0.94 percent.
Among sectors, banking being the top gainer which ends with a gain of more than 3 percent, with
pharma and IT ending in red with a loss of 1.67 and 0.68 percent, respectively.
⮚ In the coming trading session on Tuesday, 20th October, market is expected to remain volatile. A
doji candle formation is observed in the daily chart of Nifty, which signifies situation of indecision
among buyers and sellers in the market. Nifty is expected to maintain a resistance of 12,000 with
support remaining at 11,650.
⮚ Highest Daily Nifty Call OI-12,000
⮚ Highest Daily Nifty Put OI-11,500
Long built-up:
Scrip Name Closing price Change in price Change in OI
SBIN 204.75 4.17% 13.40%
FEDERALBNK 56.40 7.63% 15.60%
AXISBANK 493.70 4.18% 9.30%Short built-up:
Scrip Name Closing price Change in price Change in OI
AMBUJACEM 247.75 -0.36% 33.36%
BHARTIARTL 397.75 -1.33% 2.09%
GMRINFRA 23.70 -0.63% 3.54%
Short covering:
Scrip Name Closing price Change in price Change in OI
IOC 77.50 3.96% -2.82%
PNB 28.15 1.62% -1.88%
SAIL 34.75 2.66% -2.42%
Long Unwinding:
Scrip Name Closing price Change in price Change in OI
IDEA 7.95 -1.85% -1.25%
AUROPHARMA 799.70 -1.14% -0.22%
PVR 1159.00 -1.11% -1.26%Nifty Option Chain
Analysis :
⮚ Nifty ends the day with a gain of 0.94 percent on Monday,
19th October. The options data indicates immediate trading
range of the Nifty is likely to be 11,650 - 12,000. Maximum Put
open interest was at 11,500 followed by 11,600 strike, while
maximum Call open interest was at 12,000 followed by
12,200 strike. Call writing was seen at 11,900 and 11,850 strikes
while Put writing was seen at 11,800 then 11,700 strike.
IndiaVIX gained 0.80 percent and close at 21.82.
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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