ENRICH COMMODITY PVT LTD H
*Pre-Market Derivatives and Technical Set-up*
● Nifty index opened gap up supported by the positive momentum in global market and continued strengthening for the fourth consecutive session. It made its lifetime high of 13885 and managed to hold at higher zones. It moved in a range of 75 points and settled the day with gains of 124 points. It formed a Bullish candle on daily scale and making higher lows from last four sessions
● Now it has to continue to hold above 13750-13777 zones to witness a fresh rally towards new life time high of 14000 then 14200 zones while on the downside major support exists at 13700 and 13600 levels
● India VIX moved up by 2.77% from 19.96 to 20.42 levels. Stability in volatility is supporting the bullish market setup and VIX needs to hold below 19 zones to continue the bulls grip in the market
● On option front, Maximum Put OI is at 13000 followed by 13500 strike while maximum Call OI is at 14000 followed by 14500 strike. Call writing is seen at 14500 then 14200 strike while meaningful Put writing is seen at 13800 then 13700 strike. Option data suggests an immediate trading range in between 13700 to 14100 zones
● Bank Nifty opened gap up and saw strength building throughout the day. It continued its up move towards 30900 levels and saw good momentum in banking counters, closing the day with gains of 1.57%. It formed a Bullish candle on daily scale and continues its higher highs - higher lows formation of the last three days
● Now it has to continue to hold above 30500 zones to witness an up move towards 31200 and 31500 zones while on the downside support exists at 30200 and 30000 zones
● Bullish setup in Sail, Ibulhsgfin, Tatamotors, Jswsteel, SBIN, Titan, Cholafin, Dabur, Pidilitind, Ultracemco, Siemens, Kotak Bank, Bajaj Auto, Asian Paint and TCS
● Bearish setup in Biocon, MRF and Cumminsind
ADR/GDR, Bulk Deals, Insider and Pledge shares
 
ADR/GDR
·   ICICI Bank up 2%, HDFC Bank up 1.5%, Tata Motor up 6%, Vedanta up 1% and Infosys up 1%
Pledge Share
·   Jindal Steel & Power: Promoter Danta Enterprises created pledge of 53 lakh shares between December 21-22.
·   Future Consumer: Promoter Future Capital Investment invoked pledge of 23.22 lakh shares between December 19-23.
·   Future Retail: Promoter Future Corporate Resources invoked pledge of 9.97 lakh shares between December 19-23.
Bulk Deals
·   Entertainment Network (India): Rajasthan Global Securities bought 2.70 lakh shares (0.57%) at Rs 157.44 per share.
·   Fairchem Organics: Rajasthan Global Securities bought 65,864 shares at Rs 618.56 per share. Solidarity Advisors sold 65,502 shares at Rs 618.39 per share.
·   Rupa & Company: Abakkus Emerging Opportunities Fund-1 bought 12 lakh shares (1.51%) at Rs 250.5 per share. Suvichar Advisors LLP 12.99 lakh shares (1.63%) at Rs 250.55 per share.
Insider Trades
·   Sadbhav Infrastructure Project: Promoter Sadbhav Engineering acquired 1.50 lakh shares on December 24.
Who’s Meeting Whom
·   Finolex Industries: To meet SBI Life Insurance Company on December 29.
·   Prince Pipes and Fittings: To meet Franklin Templeton on December 29.
·   DCM Shriram: To meet ITI Asset Management on December 29.
·   Eicher Motors: To meet Premji Invest on December 29 and Kotak Mutual Fund on December 30.