EQUITY RESEARCH LAB DERIVATIVE REPORT 3RD MAR

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NIFTY FUTURESensex closed 463.63 points up at 24242.98, while Nifty settled 146.55 points up at 7368.85. Sensex continued its post-Budget rally for the second straight day and surged over 2 per cent to get past the 24,000-mark on Wednesday in anticipation of policy easing by RBI amid positive global markets. Heavy buying in banking stocks on account of the Reserve Bank of India’s easing capital recognition norms for banks also supported overall market sentiments. Among the other major gainers were IT, capital goods, power, oil & gas and metals stocks. Only the FMCG index ended with losses.

• Technical views:Nifty future closed at 7361.55 on Tuesday. Nifty may be trade in between the7000-7500 range in march series. March series started with maximum open interest at 7500 call and 7000 put. Below the level of l one short Fall may be seen in nifty future, Nifty future may be taste new level of 6800-6700.

NIFTY DAILY CHART

BANK NIFTY FUTURE

Bank Nifty rose 677 point (4.69%) and closed at 15109.60 on Wednesday . bank nifty shown uptrend movement in the full trading session. SBI BANK (11.79%) and ICICI BANK(7.34%) is the top gainers in bank nifty future.

• Technical views:Bank nifty shown technically recovery trend in daily time frame . bullish trend in bank nifty will be seen above the level of 15700-15800.

BANK NIFTY DAILY CHART

USD/INR

The Indian rupee extended up move on Wednesday by opening at 67.74 a dollar, up 12 paise compared to 67.86 in previous session. This consistent recovery is led by rally in equity markets on hopes of rate cut post pricing in Union Budget. The USD-INR strengthened yesterday and will take cues from the way the equity market as well as the crude prices behave. The pair is expected to trade between 67.80-67.90/dollar."

USDINR STRATEGY R1 67.91 R2 667.95

Pivot Point 68.58 S1 67.68 S2 67.49

EUROPEAN MARKET

European markets closed FLT on Wednesday with . The DAX is up .61% while France's CAC 40 is up .41% and London's FTSE 100 is down by .09%.

ASIAN MARKET

Asian markets closed sharply higher today with shares in China leading the region. The Shanghai Composite is up 4.26% while Japan's Nikkei 225 is up 4.11% and Hong Kong's Hang Seng is up 3.07%.

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