EQUITY RESEARCH LAB: DERIVATIVE REPORT 27TH APRIL

NIFTY FUTURE

Sensex closed 328 points up at 26,007, while Nifty gained 107.60 points at 7,962.65. After a sluggish start, markets surprisingly rallied sharply to end about 1.4 per cent higher for the day. European markets traded higher when they opened, which provided support to Indian markets. The US Fed meets today and a decision on interest rates is expected tomorrow. There are expectations that the US Fed would put rate hikes on hold and continue with its dovish outlook. Apart from this, good results from large companies such as Maruti and Reliance also kept sentiments positive.

Technical views:Nifty future closed at 7979.15 on Tuesday. Nifty trade above Its Psychological level of 7900 ,nifty may continue bullish trend further, Above that level new level of nifty may 8050-8150.

NIFTY DAILY CHART

BANK NIFTY FUTURE

Bank nifty open flat in the morning and shown downtrend and made a low of 16575.05 after making the low its shown recovery from its day low and cross the level of 17000 after January 2016.and also closed at 17028 on Tuesday. INDUSIND BANK(+3.98%) and YES BANK (+3.65%) is the top gainers in bank nifty future.

Technical views:Bank nifty Open flat at 16650 , to its previous closing 16689.45 on Tuesday and touched the new high of 17000. Next level for bank nifty technically could be 17400-17800. if its manage or sustain above the level of 17000 .

BANK NIFTY DAILY CHART

USD/INR

The Indian rupee has opened marginally lower at 66.72 a dollar on Tuesday compared to 66.61 a dollar in previous session. The crucial 2-day FOMC meeting starts today with market expectations of no rate action. However, the statements following the policy will be keenly analyzed. The USD-INR pair continues to trade in the Rs 66-67/USD range.

USDINR STRATEGY R1 66.80 R2 66.00

Pivot Point 66.47 S1 66.37 S2 66.28

EUROPEAN MARKETEuropean markets finished slightly lower on Wednesday with shares in London leading the region. The FTSE 100 is up 0.38% while Germany's DAX is off 0.34% and France's CAC 40 is lower by 0.29%.

ASIAN MARKETAsian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.61% and the Hang Seng rose 0.48%. The Nikkei 225 lost 0.49%.

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