11th Jun' 2020 (Evening)

11th Jun' 2020 (Evening)

Market responded as expected in the morning. The day saw a continuous decline on the indices. Market saw a good amount of offloading from both DII's and FII's. Led by HDFC twins, Reliance again, supported by ICICI Bank and almost all major Banking stocks (Except IndusInd). The market breadth was extremely negative, indicating a bearish sentiment setting in.
  1. FII and DII together sold around 1600 Cr. 
  2. FII unwound around 8500 long positions and shorted 5400 fresh positions. The Long exposure of FII is now almost Nil. 
  3. Thought the option data is confounded by expiry data today, the option data indicates a bearish sentiment. With more long calls unwound and more short puts unwound. 
  4. The highest OI for PE is at 9500 and highest OI for CE is at 10500. Indicating a widening of the band on the lower side for the coming week.
  5. Aggressive call writing was seen today between 10000 and 10500, while put writing was biased towards lower side between 9000 and 10000.
  6. BankNifty now has highest put OI at 19500 and highest call OI at 21500. Indicating a lowering o fthe range here as well. There was heavy put writing on the call side and on the put side the writing was seen reasonably good at 19500.
  7. All Asian markets closed in red today. European markets are deep in the red. FTSE, CAC and DAX more than 4% red.
  8. US is now deep red with Nasdaq running 4% down.
  9. The sentiment seems extremely negative as of now.
  10. The picture seems gloomy at this point of time. Lets see how this moves tomorrow morning.

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