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ICICI Securities

Published on 29/10/2020 11:11:10 AM

Rollover Highlights

* Nifty rolls were near 54% vs. 3M average of 57%

* Marketwide rolls were at 76% against the 3M average of 75%

* Highest rollover was seen in Siemens, Federal Bank, IDFC First Bank, Havells and LIC Housing Finance

* Rollover activity was relatively low in Coforge, Petronet LNG, Godrej Consumer Products, NMDC and Chola Finance

* Among index stocks, Grasim (94%), JSW Steel (93%) and Adani Ports (92%) are witnessing high rolls into the next series while L&T (62%), TCS (64%) and ONGC (66%) are seeing relatively low rollover into the November series

* The open interest in the Nifty has increased marginally amid higher additions in the November series. During the last session, October series saw closure of 1.7 million shares while mid month saw addition of more than 2 million shares. However, the roll spread has remained under pressure but positive near 10-15 points throughout the session. We believe the roll spread would remain stagnant and may increase towards settlement

* The open interest in the Bank Nifty saw marginal increase in open interest and both near as well mid month saw change of 0.3 million shares. However, the roll spread in the banking index has remained under pressure and roll spread has turned negative suggesting rollover of short positions. We believe roll spread will stay under pressure towards settlement as short rollover is likely to be seen

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HDFC Securities

Published on 29/10/2020 10:59:23 AM

Markets could open lower following negative Asian markets and sharply lower US markets on Wednesday - HDFC Securities

Indian markets could open lower following negative Asian markets today and sharply lower US markets on Wednesday.

US stocks tumbled Wednesday, putting all the three major indexes on track for their worst week since March 20, as a surge in COVID-19 cases in the U.S. and Europe heightened investor worries over the economic recovery. Investors also have begun to take precautions ahead of the Nov. 3 U.S. election while digesting third quarter corporate earnings reports

Global stocks came under heavy selling pressure Wednesday as Germany and France announced further restrictions on business activity in an effort to contain the rise in COVID-19 cases and the U.S. saw the number of new cases hit records.

Asian stocks were set to join a global sell-off on Thursday as worries about surging coronavirus cases in Europe and the United States sent investors scrambling for safe-haven assets. The Bank of Japan and European Central Bank are set to announce its interest rate decision and release its outlook report on Thursday

Indian equity benchmark indices reversed Tuesday's gains to end lower on October 28, dragged lower by selling pressure across the board. Nifty after opening almost flat soon started to fall and made an intraday low around 1400 Hrs. A feeble recovery followed. At close the NSE Nifty 50 index ended 1.34% lower at 11,729.

Uncertainty around US Presidential elections has succeeded in triggering a correction in global markets already reeling under Covid-19 spread. The level of 11661 remains a crucial support on the downside.

Bharti Airtel to stay away from 5G auctions, as prices exorbitant: Vittal

Bharti Airtel CEO Gopal Vittal said that the company would stay away from the 5G auctions, if they happened next year as the spectrum offered at the current prices were not affordable for the company.

“The 5G ecosystem is yet to develop here and the prices are very high and we can’t afford them,” Vittal said during the company’s post earnings call. He said that the company would not buy the airwaves at the current prices at the rates suggested by the Telecom Regulatory Authority of India (TRAI).

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SEBI Registration number is INZ000171337

HDFC Securities

Published on 29/10/2020 10:58:35 AM

Be Bearish With The Stoploss Of 11850 Levels - HDFC Securities

F&O HIGHLIGHTS

SHORT BUILD UP WAS SEEN IN THE NIFTY & BANK NIFTY FUTURES

* Nifty fell sharply on the back of weak global cues where it fell by 160 points to close at 11730 levels

* Short build up was seen in Nifty Futures’ where Open Interest rose by 3% with Nifty falling by 1.3%.

* Short build up was seen in the Bank Nifty Futures too, where we have seen 5% rise in the Open Interest with Bank Nifty falling by 2.2%.

* Nifty Open Interest Put Call ratio fell sharply to 1.25 levels from 1.48 levels. Amongst the Nifty options (29-October Expiry), Call writing was seen 11800-11850 levels, Indicating 11850 level will act as a strong resistance going forward. On the lower side, support is seen around 11600 levels where we have seen addition in Puts.

* Short build up was seen by FIIS’ in the Index Futures segment where they net sold worth Rs 1905 Cr with their Open Interest going up by 20713 contracts.

On the other hand, In the stock futures segment they have covered their shorts where they net bought worth Rs 1350 Cr with their Open Interest going down by 29911 contracts.

To Sum It Up, Short build up in the Nifty and Bank Nifty Futures, fall in the Nifty Open Interest Put Call ratio on the back of Call writing at 11800-11850 levels and short build up by the FIIs’ in the Index futures and Index Option segment Indicates that one should be cautious for the markets Therefore, our advise is to be bearish and use any pullback rally to build fresh short positions with the stoploss of 11850 levels.

On the lower side support is seen around 11600 levels where Puts have been written.

In the Bank Nifty, our advice is to remain bearish with stop loss of 24500 levels. On the lower side, support is seen in the vicinity of 23500-23800 levels

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SEBI Registration number is INZ000171337
 

Tradebulls Securities (P) Ltd

Published on 29/10/2020 10:55:10 AM

Nifty

Volatility would keep the index oscillating as the range for the final legs of expiry stands at 11650-11850 from its earlier 11700-11900 which has marginally deviated. Yesterdays price action engulfed the expected range & now presents a ‘Stick Sandwich Candlestick formation’ the pattern would have its bullish implications only above 11880-11900 zone. Options band stands at 11700-11900 with pain placed at 11750 ; with OI PCR around 1.25 with futures discount reducing to 8pts are some additional signs of shorts been covered. The immediate requisite for unlocking the directional momentum play would be a definite close above 11900 zone. Until then expect index to retain its oscillation mode within 11700-11900 zone. With the results season progressing well, the focus remains on stock specific action. Trend strength indicators are still positive & still compliment the positive bias to continue but its ideal to retain a mean reversion strategy or the day until the index does not register as confident close outside the broad band of 112065-11580.

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GEPL Capital

Published on 29/10/2020 10:48:21 AM

Key Highlights:

* Nifty October Futures ended 157.55 points down @ 11721.50 with a discount of 8.10 points.

* Nifty futures open interest decreased by 16.91 lakh shares with October series total open interest stands at 0.62 crore shares.

* Nifty 12000 call has highest OI, whereas 11500 put holds the highest OI and Banknifty 25000 call has highest OI and 24000 put has highest OI.

* Nifty 12000 call saw addition of 21.56 lakh shares in OI, whereas 11800 put saw unwinding of 8.61 lakh shares In OI.

* India VIX ended 4.89% up @ 23.28 against the previous close of 22.20

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SEBI Registration number is INH000000081.
Please refer disclaimer at https://geplcapital.com/term-disclaimer

GEPL Capital

Published on 29/10/2020 10:48:04 AM

BANKNIFTY SPOT: 24232.50 (-2.17%)

DYNAMIC PARAMETER: Index formed Inside Day candle pattern.

TRADING ZONE:

Resistance: 24550 (Intraday Resistance) / 24823 (Swing High)

Support: 24057 (Day Low) / 23867 (3 Day Low)

VIEW: Bearish below 23264 (200 Day SMA)

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SEBI Registration number is INH000000081.
Please refer disclaimer at https://geplcapital.com/term-disclaimer

GEPL Capital

Published on 29/10/2020 10:47:49 AM

Key Highlights:

Finally the Nifty closes below 20 Day SMA….

NIFTY SPOT: 11729.60 (-1.34%)

DYNAMIC PARAMETER: Nifty formed Lower Top Lower Bottom pattern.

TRADING ZONE:

Resistance: 11800 (Intraday Resistance) / 11942 ( 3 Day High)

Support: 11661 (Swing Low) / 11600 (Key Support)

BROADER MARKET: OUTPERFORMED MIDCAP 17047 (-0.99%), SMALLCAP 5893 (-0.98%)

AdvanceDecline: 627/ 1186

VIEW: Bearish below 11661 (Swing Low)

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SEBI Registration number is INH000000081.
Please refer disclaimer at https://geplcapital.com/term-disclaimer

Geojit Financial Services Ltd.

Published on 29/10/2020 10:35:02 AM

Nifty Outlook:

The expectations towards a test of 12000 was diffused prematurely, with Nifty turning from 11929 yesterday and revisiting 11700. This forces us to have a relook at the 11300-10500 view that we had discussed on 27th. However, a collapse is less expected for the day, atleast as long as 11661- 11585 holds firm.

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Please refer disclaimer at www.geojit.com
SEBI Registration number is INH200000345

Geojit Financial Services Ltd.

Published on 29/10/2020 10:34:22 AM

F&O OUTLOOK

Nifty outlook

Put OI in 29Oct contracts increased the most at 11450 followed by 11650, while the 11500 remained the strike with the max OI concentration. However, the first Nov weekly found fresh put buying interest as deep as 10900, which is a strong bearish statement. Meanwhile, short positions of FIIs in index futures rose a whopping 34% taking the proportion of longs in this segment to 47%, a massive climb down from the 71% prevailing at the start of the month. . This is an extreme position to have going into the expiry day. Among index options, positive bets continue to be 47% of the segment, while short positions, which are margin heavy have rose to 41.7%, the highest of this month. Bulk of this could be call shorts, whose OI rose 19.5% yesterday. In all, given the fact traders are already positioned heavily in favour of bears, further downside momentum may be found lacking today, given the expiry of October series.

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Please refer disclaimer at www.geojit.com
SEBI Registration number is INH200000345

GEPL Capital

Published on 29/10/2020 10:26:05 AM

BANKNIFTY: 24148.95 (-83.55  ie  -0.34%)
HIGH: 24218.90 LOW: 23923.85
DYNAMIC PARAMETER: Index trading in the lower range of the previous session.
SUPPORT ZONE: 23923.85 (Daily low) / 23750 (Key support level)
RESISTANCE ZONE: 24280 (Intraday resistance level) / 24577 (26th Oct high)
VIEW: BANKNIFTY Bearish below 24500 (Spot Level)

SEBI Registration number is INH000000081.
Please refer disclaimer at https://geplcapital.com/term-disclaimer
 

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