Market Outlook Report- 26th MAR 2021 - Webflow
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Market Outlook Report- 26th MAR 2021
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 14324.90 14575.60 14264.40 -224.50 -1.54%
Sensex 48440.12 49247.95 48236.35 -740.19 -1.51%
Banknifty 33006.45 32415.25 33550.15 -286.80 -0.86%
Nifty FUT 14324.50 14560.00 14261.25 -230.80 -1.60%
The Nifty opened on a flat note on 25th March 2021 and plunged down till 14264 in first half
to recover and close above 14300 in second half. The expiry session ensured market was
Overview
volatile, the support seems to be around 14200 and resistance 15050.
Global Markets
Index Last High Low Change Change% ➢ The U.S. securities regulator is introducing measures that would kick
foreign companies off U.S. stock exchanges if they do not comply with
Dow 30 32,420.06 32,787.99 32,418.15 -3.09 -0.01%
U.S. auditing standards, and require them to disclose any government
Nasdaq 12,961.89 13,292.92 12,961.35 -265.81 -2.01% affiliations - measures widely expected to hit Chinese companies.
DAX 14,597.40 14,612.45 14,530.45 -12.99 -0.09%
➢ European stocks inched lower in early trading on Thursday as investors
FTSE 100 6,719.85 6,730.38 6,676.15 +6.96 +0.10% grew wary about the economic outlook following a new round of
coronavirus restrictions in the euro zone and regulatory concerns hit
Chinese stocks.
Index S1 Pivot Points R1
➢ Asian equities bounced between gains and losses on Thursday as a
Dow 30 32361.14 32486.79 32549.61
selloff in Chinese technology shares due to concerns they will be de-
listed from U.S. bourses and worries about a semiconductor shortage
Nasdaq 12925.22 12998.02 13034.41
rattled some investors.
DAX 14543.85 14578.15 14625.85
FTSE 100 6684.08 6707.23 6738.3Currency Outlook
➢ The currency pair rose to a high of 72.6850 at the day's opening
session, up from a low of 72.27 on Tuesday this week, backed by a
drop in global stocks, an increase in the dollar index, and concerns of
Covid spreading through many countries. The currency pair broke
out on the upside after a long period of sustained weakness in the
tight range of 72.30 to 72.60.
➢ On the assumption that the Central Bank will continue to boost
domestic bond market yields, the 10-year benchmark G-sec yield hit
a high of 6.23 percent on 12-3-21 and has since dipped to its current
level of 6.15 percent per annum. Following the completion of the RBI's
open market operations today, further bond buying is expected.
➢ USD/INR once again traded on a flat note where $72.50-$2.30 levels is
holding a support where breakout above $72.80 is waited for further
upside movement. Dollar Index is on the edge to give breakout above
200-Daily Moving Average which is placed $92.60 levels which can
Chart : Zerodha.com further take prices to $92.25-$91.75 levels. USD/INR could trade in the
range of $72.50-$72.95 in the upcoming sessions.Derivative Outlook
⮚ Market indices remained weak amid monthly F&O expiry and witnessed selling throughout the session as on
Thursday, 25th March. Nifty has breached the major support of 14,350 level and remained highly volatile ending
with a loss of around 1.54 percent. Among sectors, except metal, all other indices ended in red with auto and
FMCG being the top losers.
⮚ In the coming trading session on Friday, 26th March market is expected to be volatile amid weak global cues.
14,100 to 14,050 is expected to be support zone for Nifty whereas on the higher side 14,500 level must be
sustained by the index to witness a bounce-back and regain momentum.
⮚ Highest Daily Nifty Call OI-14,000
⮚ Highest Daily Nifty Put OI-14,500
Long built-up:
Scrip Name Closing price Change in price Change in OI
ICICIBANK 570.80 0.57% 16.04%
HDFC 2467.85 0.06% 34.80%
FEDERALBNK 76.35 1.06% 11.10%Short built-up:
Scrip Name Closing price Change in price Change in OI
MOTHERSUMI 195.20 -3.08% 35.87%
SBIN 357.35 -0.82% 11.36%
ONGC 101.75 -2.91% 19.69%
Short covering:
Scrip Name Closing price Change in price Change in OI
SAIL 72.70 3.27% -9.07%
JINDALSTEL 312.20 1.45% -7.89%
JSWSTEEL 439.00 0.26% -14.19%
Long Unwinding:
Scrip Name Closing price Change in price Change in OI
IDEA 8.90 -8.72% -12.63%
PNB 35.60 -4.04% -30.49%
NATIONALUM 52.25 -2.06% -30.81%Nifty Option Chain
Analysis :
⮚ Nifty ends the day on a negative note with a loss of around 1.54
percent as on Thursday, 25th March. The options data indicates
immediate trading range of the Nifty is likely to be 14,000 – 14,800.
Maximum Put open interest was at 14,000 followed by 14,300 strike,
while maximum Call open interest was at 14,500 followed by 14,600
strike. Call writing was seen at 14,500 and 14,600 strikes while Put
writing was seen at 14,300 and 14,400 strikes. IndiaVIX gained 1.07
percent and close at 22.70.
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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