BENCHMARK INDICES

NIFTY FUTURE INDEX

CAPITAL WAYS INVESTMENT ADVISER

DERIVATIVES DAILY REPORT

Thrusday 10-08-2020

Nifty today closed at 11756.00 up 86.35 points or 0.74percent. The Nifty 50 indexes rallied for fifth session in a row on

Wednesday led by gains in Reliance Industries, HDFC Bank, Tata Consultancy Services, HDFC and Titan. The markets

opened lower but recovered soon after owing to short-covering a day ahead of the weekly expiry of index derivative

contracts. In the last five trading sessions, the Sensex has rallied 5 per cent and Nifty has surged 5 per cent. European

shares rose on Wednesday, as initial dismay at US President Donald Trump’s decision to cancel fiscal stimulus

negotiations with lawmakers in Washington was replaced by optimism about an aid package after the US elections.

Asian stocks hit two-week highs. In commodities, oil prices extended their decline after US President Donald Trump

dashed hopes for a fourth stimulus package to boost the corona virus-hit economy and on a larger-than-expected

increase in US crude inventories. The Nifty formed a bullish candle on the daily charts and the market appears to have

stretched on the upside in the near term with successive positive closes five sessions. If the Nifty remains range-bound

with a negative bias in the next session, upsides may remain capped at around 11,794. The index has immediate hurdle

around 11800 zone if managed to hold above 11800 zone then we may see quick move towards 12k mark and good

supports are still placed around 11660-11600 zone. For the time, traders are advised to remain neutral on the long side

but intraday traders with a high-risk appetite can consider shorting if the Nifty opens near 11,770 levels with a stop of

11,810 and can look for a modest target of 11,690.

BANKNIFTY FUTURE INDEX

Bank nifty today closed at 23011.00 up 97.20 points or 0.42 per cent . Nifty Bank supports are coming near 22700-22400

zone and resistance is coming near 23150-23400 zone. The Indian rupee ended higher at 73.34 per US dollar, against

Tuesday's close of 73.45. The domestic currency hit the day's high of 73.28 today. Markets recovered quickly in morning

trade and traded in the Green throughout the day led by autos ahead of the RBI policy. Banks interest payments on

loans, distressed borrowers, delayed payments, compounded interest, loan moratorium. Indian bankers fear the

government's decision to waive some interest payments on loans under a COVID-19 support plan will create unnecessary

work for lenders and lead to more litigation, without providing much of a boost for the sagging economy. The

government will bear the cost, which could be as high as $1 billion, according to analysts. But for Indian lenders saddled

with over $120 billion of bad loans and a corona virus-induced collapse in demand, the move will further pressure

already stressed balance sheets. Although the broader market was a bit lackluster, we did see sustained buying in

cement and select pharma counters during the day. At the major Asian stock markets, the Japanese Nikkei went off 0.05

per cent, Kospi added 0.89 per cent, Hang Seng went up 1.09 per cent while the Shanghai index shed 0.20 per cent after

teh closing bell today. At Wall Street on yesterday, Dow Jones nosedived 1.34 per cent, Nasdaq crashed 1.57 per cent,

Small Cap 2000 added 0.09 per cent while S&P 500 dipped 1.40 per cent. On the sectoral front, auto, infra, IT and FMCG

indices ended in the green, while selling witnessed in the metal, pharma and energy sectors.

INTRADAY DERIVATIVES STOCK RECOMMENDATION

STRATEGY

MARUTI - UPSIDE TARGET BUY MARUTI -FUT AT 7035 TARGET 7075 , STOPLOSS 7010 TRAND OF STOCK IS UPTREND AND SCRIPT MOVING IN BULLISH CHANNAL CALL GIVEN AT THE PULLBACK LEVEL, RSI IS ALSO SUPPORTIVE FOR LONG. Intraday levels We expect prices to trade AT 7035 and price is expected to Rise up to 7075

STRATEGY

ZEEL -DOWNSIDE TARGET SELL ZEEL -FUT AT 209 TARGET 206

STOPLOSS – 210.50 NEW TRAND OF STOCK BEARISH BCZ OF BREAKOUT AND BEARS HAVY ON SCRIPT, CALL GIVEN AT THE BREAKOUT RETST LEVEL, AND RSI IS ALSO SUPPORTIVE FOR SHORT. Intraday levels We expect prices to trade AT 209 and price is expected to fall up to 206

For any Query please feel free to contact Capital Ways Support Team

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