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EQUITY RESEARCH LAB:

DERIVATIVE REPORT 24th MAY

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NIFTY
FUTURE

Sensex closed 71.54 points, or 0.28 per cent, down at 25,230.36, while Nifty 50
index settled 18.65 points, or 0.24 per cent, lower at 7,731.05. Markets started off
with a gap-up opening but lost momentum gradually to enter into red in noon
deals as traders remained concerned with Reserve Bank of India (RBI) Governor
Raghuram Rajans statement that India should restrain itself from being too
ambitious at a time when the world is full of uncertainties and instead focus on
sensible policies to ensure a sustainable economic growth. Rajan has also said
that Indian economy has certainly picked up pace in growth, but certain sectors
are still under stress, making the economic recovery uneven.

Technical views:
Nifty future closed at 7744.85 on Monday. Nifty today trade Below the range of
7800 and also shown triangle breakout on daily time frame ,consolidation or
downtrend may be follow by nifty . next support for nifty seen in between the
range of 7750-7670.

NIFTY DAILY
CHART

BANK NIFTY
FUTURE

Bank nifty open flat in the morning trading session. And shown
consolidation movement over the full trading session and closed at
16429.40 after consolidation. Bank nifty showing bearish pattern on daily
chart ,bank nifty may be trade in the range of 16200-16600 for a short
time. BANK OF BARODA (-2.41%) and SBIN(-1.72%) is the top losers in
bank nifty future.

Technical views:
Bank nifty Open UP at 16625.00, to its previous closing 16505.85.00 on
Monday and touched high of 16638.00. Bank nifty technically may be
trade in the range of 16100-16700 for a short time. if its manage or sustain
above the level of 17000 than new high might be seen.

BANK NIFTY DAILY


CHART

USD/I
NR

The Indian rupee gained in the early trade on Monday. It has opened higher
by 14 paise at 67.30 per dollar against 67.44 Friday. The USD-INR pair is
likely to weaken further on concerns over P-notes and Fed rate hike. The
rupee may weaken towards 67.80/dollar. However, on the upside, 67/dollar
may act as a strong resistance for the Indian rupee. The US dollar hit its
highest level against the yen in more than three weeks on expectations of a
potential summer Federal Reserve interest rate hike, while the dollar was
little changed against the euro after profit-taking.

USDINR STRATEGY R1 67.54 R2 67.64


Pivot Point 66.47

S1 66.29

S2 67.14

EUROPEAN MARKET
European markets closed lower on Monday with shares
in London leading the region. The FTSE 100 down
0.37% while France's CAC 40 slides 0.67% and
Germany's DAX was down by 0.75%.

ASIAN
MARKET

Asian markets finished mixed as of the most


recent closing prices. The Shanghai Composite
gained 0.64%, while the Nikkei 225 led the
Hang Seng lower. They fell 0.49% and 0.22%
respectively.

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