Derivative report 22 April :- Equity Research Lab

Stock Cash tips :- 

NIFTY FUTURE :-

Sensex closed 36.20 points, or 0.14 %, up at 25,880.38. Nifty settled 2.70 points, or 0.03 %, down at 7,912.05. banking stocks rallied on a media report the Reserve Bank of India trimmed the list of companies whose loans need to be provided for against the risk of default. Asian equity markets ended mostly higher on Thursday as oil prices rallied and the yen resumed its decline on expectations of further easing from the Bank of Japan next week. The European Central Bank meeting due later in the day, although no change in policy is expected after unprecedented monetary stimulus at the March policy meeting. Japanese shares rose, as oil prices bounced back and positive US housing data as well as expectations of further policy easing from the Bank of Japan weakened the yen to near the 110 level. Technical views:

Nifty future closed at 7913.35 on Thursday. Nifty break it Psychological level of 7900 if nifty trade above and sustain on that level, nifty may continue bullish trend further, next resistance for nifty may be 7950.

Pivot point :-

Nifty Future R1: 7970 R2: 8027 R3:8069

Pivot:7927 S1: 7870 S2: 7828 S3:7771

BANK NIFTY FUTURE

Bank nifty open gap up in the morning and made new high of 16769.55 in the previous one hour’s of the trading. bank nifty after that shown consolidation and followed the range of 16500-16700. Above 16800 we can see the new level of 17000 in bank nifty soon. ICICI BANK (6.30%) and SBI BANK (3.76%) is the top gainers in bank nifty future.

Technical views:

Bank nifty Open high at 16576.00 , to its previous closing 16385.65 on Wednesday & trade between the level of 16400-16800 above that level bank nifty technically may touché the new level of 17000-17300 soon.

Pivot level:

Bank Nifty Future R1: 16751 R2: 16863 R3:16956

Pivot: 16658 S1: 16546 S2: 16453 S3: 16341

USD/ INR: The Indian rupee opened lower by 10 paise at 66.32 per dollar Thursday against previous close of 66.22. Sharp rise in oil prices has failed to trigger significant currency movements. Ahead of next week's FOMC rate setting meeting, currency markets are expected to be subdued. Dollar edged up against a basket of major currencies. Euro flat ahead of the ECB meet today. The central bank is not expected to make any policy change at its rate-setting meeting on Thursday.

EUROPEAN MARKET:

European markets finished slightly negative with shares

ASIAN MARKET:


Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 2.70% and the Hang Seng rose 1.82%. The Shanghai Composite lost 0.66%. in Germany leading the region. The DAX is up 0.14% while France's CAC 40 is down 0.20% and London's FTSE 100 is up 0.45%.

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