Nifty Trend & Spot Levels for 12-Jan-2016

NIFTY TREND: BEARISH

NIFTY SPOT LEVELS

SUPP 1: 7480

SUPP 2: 7365

RES 1: 7635

RES 2: 7710

F&O cues: Nifty 7400 Put adds 12.7 lakh shares in Open Interest

F&O Cues:

Nifty 7800, 7900 and 8000 Calls added 20 lakh shares in Open Interest on January 8

Option Premiums down in Nifty 7800, 7900 and 8000 Calls

Nifty 7400 Put added 12.7 lakh shares in Open Interest

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Market Update

Sensex, Nifty open in green; L&T, Hindalco, Tata Motors gainers L&T, Hindalco, Tata Steel, Tata Motors and Maruti are top gainers in the Sensex. Among losers are Hero, Dr Reddy's, ONGC, ITC and Adani Ports.

TCS slipped 1 percent as its third quarter earnings are expected to be muted with profit falling 0.8 percent and dollar revenue growth at 0.7 percent on sequential basis, impacted by Chennai floods. Infosys and Wipro also declined over 0.5 percent.

The Nifty50 was trading above its crucial support level of 7,550, supported by gains in power, consumer durable, capital goods, and consumer durable stocks.

The S&P BSE Midcap Index was up 0.44 per cent and BSE S&P Smallcap Index was trading 0.48 per cent higher.

Indian Rupee Update

The Indian rupee has opened marginally lower at 66.83 per dollar on Tuesday against previous close of 66.81 a dollar.The USD-INR pair is expected to take cues from the movement in stock market today and is expected to trade in range of 66.70-66.90/dollar