Derivative Picks

Benchmark indices witnessed sharp up move in yesterday's trade as NSE's NIFTY ended the session with strong gain of about 161 points or 1.9%. 

Nifty Future OI increased by 4.10% with a rise in price by 1.84%. Market witnessed buying interest across the board especially in Realty, Metal, Power, Consumer durable, Auto and Banking sector stocks. Nifty future closed at a premium of 45 points. The market turnover decreased by 71.61% in terms of number of contracts traded vis- à-vis previous trading day and in terms of rupees decreased by 70.19%.

Buying was observed across the board with majority of sectoral indices closing the session at intraday high. Sectorally, CNX Realty emerged as top gainer up 4.5% followed by gains in CNX PSU Bank that rose 4.1%. 

The only sectoral index that disappointed the participant was the CNX FMCG index that closed a tad below the neutral zone. 

Broader market indices ended the trade on a strong note with CNX Mid-cap ending the day with gain of 2.1% while CNX Small-cap ended the session with the gain of 2.3%. 

NIFTY March Futures closed with premium of about 46 points at 8,730 mark.

BANK NIFTY March Futures closed with premium of about 172 points at 19,247 mark.

Sectoral Activity: Amongst sectoral index, CNX Realty adds fresh long position.

Stock Activity: HDIL observed build up in long position.

Indication & Outlook

Nifty Future OI increased by 4.10% with a rise in price by 1.84%. Market witnessed buying interest across the board especially in Realty, Metal, Power, Consumer durables, Auto and Banking sector stocks. Nifty future closed at a premium of 45 points. The market turnover decreased by 71.61% in terms of number of contracts traded vis- à-vis previous trading day and in terms of rupees decreased by 70.19%.

Future Short Term Call

SBIN has negated its negative trend and showing the early sign of recovery as it is moving after forming a support base at 288 levels. It looks attractive from risk reward ratio and witnessed short coveting activities with fresh built up of long position thus showing the potential to move towards 314 and higher levels. One can buy the stock with stop loss of 295 for the upside target of 314 levels.

Buy Between Rs. 300-303,Stop Loss 295, Target 314 

ARVIND is moving after the long consolidation of last five months and engulfed the weakness of previous trading session. Overall long term trend is positive in the stock and breakout of recent consolidation phase would start the fresh leg of rally towards 317 and higher levels. It has been witnessing built up of long position with rise in trading volumes compared to previous session. Traders can buy the stock with stop loss of 298 for the upside target of 317 levels. 

Buy Between Rs. 303-306,Stop Loss 298, Target 317