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Nifty ends at fresh record closing high

Nifty October 2021 futures closed at 18178.00 (LTP) on Wednesday, at a premium of 16.25 points over spot closing of 18161.75

S&P CNX – Nifty ended session at fresh record closing high yet again on Wednesday. Market made positive start, after government data showed India's retail inflation eased again in September, falling to a five-month low, thanks to a favourable comparison with last year and moderating food prices that offset a surge in the cost of crude oil and fuel. The government data also showed that the Index of Industrial Production has risen 11.9% year-on-year for the month of August as against 11.5% in July. As per the Index of Industrial Production (IIP) data by the National Statistical Office (NSO), the manufacturing sector's output surged 9.7% in August 2021. Further, market extended its upward rally as International Monetary Fund (IMF) said that India's economy, which contracted by 7.3 percent due to the COVID-19 pandemic, is expected to grow by 9.5 percent in 2021 and 8.5 percent in 2022. It also said India is doing well in terms of vaccinating its own people and this is certainly helpful in its economy. Index continued the gaining momentum till the end and finished the session above 18150 mark.

Most of the sectoral indices ended in green except Realty. The top gainers from the F&O segment were Tata Motors, Tata Power and Tata Chemicals. On the other hand, the top losers were Maruti Suzuki, Metropolis Healthcare and SRF. In the index option segment, maximum OI continues to be seen in the 18450 -18200 calls and 17400 -17700 puts indicating this is the trading range expectation.


India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 1.59% and reached 16.10. The 50 share Nifty up by 169.80 points or 0.94% to settle at 18,161.75.

Nifty October 2021 futures closed at 18178.00 (LTP) on Wednesday, at a premium of 16.25 points over spot closing of 18161.75, while Nifty November 2021 futures ended at 18206.10 (LTP), at a premium of 44.35 points over spot closing.  Nifty October futures saw an addition of 2,797 units, taking the total outstanding open interest (Contracts) to 2,54,832 units. The near month derivatives contract will expire on October 28, 2021 (Provisional).

From the most active contracts, Tata Motors October 2021 futures traded at a premium of 0.70 points at 510.40 (LTP) compared with spot closing of 509.70. The numbers of contracts traded were 68,381 (Provisional).

Tata Power October 2021 futures traded at a premium of 1.15 points at 226.95 (LTP) compared with spot closing of 225.80. The numbers of contracts traded were 42,730 (Provisional).

ITC October 2021 futures traded at a premium of 0.80 points at 251.70 (LTP) compared with spot closing of 250.90. The numbers of contracts traded were 35,094 (Provisional).

Tata Steel October 2021 futures traded at a premium of 5.30 points at 1361.80 (LTP) compared with spot closing of 1356.50. The numbers of contracts traded were 31,347 (Provisional).

Tata Chemicals October 2021 futures traded at a premium of 7.40 points at 1122.40 (LTP) compared with spot closing of 1115.00. The numbers of contracts traded were 31,154 (Provisional).

Among, Nifty calls, 18500 SP from the October month expiry was the most active call with a contraction of 22 units open interests. Among Nifty puts, 18000 SP from the October month expiry was the most active put with an addition of 18,108 units open interests. The maximum OI outstanding for Calls was at 18500 SP (35,622 units) and that for Puts was at 17500 SP (65,184 units). The respective Support and Resistance levels of Nifty are: Resistance 18,222.78 -- Pivot Point 18,136.77 -- Support -- 18,075.73.

The Nifty Put Call Ratio (PCR) finally stood at (1.66) for October month contract. The top five scrips with highest PCR on Tata Motors (1.22), Titan Company (1.10), Balkrishna Industries (0.86), Bajaj Finance (0.85) and Bajaj Finserv (0.81).

Among most active underlying, Tata Motors witnessed an addition of 5,336 units of Open Interest in the October month futures contract, Tata Power witnessed an addition of 860 units of Open Interest in the October month futures contract, Tata Steel witnessed an addition of 559 units of Open Interest in the October month futures contract, Tata Chemicals witnessed an addition of 1,281 units of Open Interest in the October month futures contract and ITC witnessed an addition of 2,934 units of Open Interest in the October month futures contract (Provisional).