SENSEX OFF EARLY HIGH, MIDCAP OUTPERFORMS | TODAY DERIVATIVE MARKET REPORT UPDATE 23 MARCH 2017.

DERIVATIVE REPORT OUTLOOK

NIFTY FUTURE REPORT UPDATE

NIFTY FUTURE :	R1:9102	R2:9158	R3:9187
PIVOT :9073	S1:9017	S2:8988	S3:8932

After a positive opening the Nifty failed to sustain at higher levels and drifted into negative territory weighed down by losses in the pharma space due to regulatory issues with the US FDA and profit booking in banking space. However buying support emerged at the lower band of last Thursday’s bullish gap area (9084) as the index recouped most of the intraday losses to close at 9121 levels. Sectorally, pharma, banking, auto and telecom indices were major draggers while FMCG and realty indices rose over 1% each.

Equity benchmarks settled marginally lower amid consolidation on Tuesday as investors remained sideways amid lack of global and domestic cues. However, newly listed D-Mart hogged the limelight, rising more than 114% on its debut on bourses • The Sensex settled at 29485 down 33 points or 0.11% while the Nifty shut shop at 9121 down just 5 points

Last week Nifty breached the level of 9119 but unable to sustain above that level and then  selling pressure was seen for the 3rd consecutive day  in the market. Support for nifty on daily time frame was at 9130-9120 which is breached today. If Nifty is unable to sustain above 9010 then level on downside is between the 8970-8899, 9000 is the next support for Nifty future.

BANK NIFTY FUTURE OUTLOOK

BANK NIFTY FUTURE REPORT

BANK  NIFTY FUTURE :	R1:20963	R2:21085	R3:21153
PIVOT : 20895	S1:20773	S2:20705	S3:20583

Bank Nifty started on a negative note and shown downside movement over the full trading hour’s. Its closed near 20841 , Below 20820 prices may slide towards 20600-20515 tomorrow. ICICI Bank is the loser of the day amongst banking stocks. 11 out 12 bank nifty stocks closed on a negative note.

Bank nifty open at 21017 to its previous closing at 21090 on Monday. Major support of bank nifty seen at 20900 which is breached today. Below 20900 short term bearish trend might be follow by bank nifty. Trader  can keep eye on its support & consolidation phase between the 20500-20600. Below that support level heavy selling pressure might be seen. 

USDINR

USDINR :	R1:65.6200	R2:65.7200	R3:65.8150
PIVOT : 65.525	S1:65.425	S2:65.3300	S3:65.2300

The Indian rupee rose to a fresh near-17-month high against the dollar, in line with most Asian currencies as the greenback stayed under pressure after the U.S. Federal Reserve maintained its stance of a gradual pace of future rate hikes last week..Earlier, the rupee resumed  at 65.5500 as against yesterday's closing level of 65.3075. Later, it strengthened sharply to 65.6250 before giving closing at 65.5200. USDINR is expected to trade sideways in today’s session. Resistance is at 65.62 and support is at 65.425 mark.

ASIAN MARKETS

NAME	CHANGE	% CHANGE
NIKKEI 225	-414.50	-2.18
STRAITS TIMES	-40.38	-1.29
HANG SENG	-272.71	-1.12
TAIWAN WEIGHTED	-49.83	-0.50

Asian markets traded negative on Wednesday. China's Shanghai composite fell 0.50 percent or 16.16 points to close at 3,245.45 Hong Kong’s Hang Seng were negative by 272.71 points.

INDIAN MARKETS

INDEX	PREV. CLOSE	OPEN	HIGH	LOW	CLOSE	GAIN/LOSS
Nifty 50	9121.5	9047.2	9072.9	9019.3	9030.45	-91.05
Nifty IT	10787.2	10717.1	10831.75	10710.8	10783.3	-3.9
Nifty Bank	21019	20815.35	20899	20753.9	20781.35	-237.65
Nifty Pharma	10493.75	10417.75	10525.4	10373.3	10510.55	16.8
India VIX	11.9425	11.9425	12.3575	11.5825	12.27	0.3275

TOP GAINER vs TOP LOSER

TOP GAINER

Company	LTP(Rs.)	% Change
LUPIN	1472.90	+1.27
HCLTECH	870	+1.25
CIPLA	595.50	+0.62
BPCL	645.75	+0.60
DRREDDY	2636.25	+0.50

TOP LOSER

Company	LTP(Rs.)	% Change
BHARTIARTL	338	-3.40
ITC	279.40	-2.95
TATAMOTORS	460.50	-2.80
HINDALCO	193.25	-2.55
ICICIBANK	262.20	-2.52