15th Jun' 2020 (Evening)

15th Jun' 2020 (Evening)

  • Data indicates weakness embedding in the markets. 
  • Markets did see support coming in at 9726 levels. This would be an immediate support for the market. However, if retested, it may be vulnerable. 
  • Similarly, BankNifty saw support coming in at 19740, this would be an immediate support as well. 
  • Lot depends on how US closes today. Will have to pick up morning cues.
  • Though as of now a close range of 19500 and 20500 is playing on BankNifty and a close range of 9700 to 9900 seems to be active on Nifty (However, remember the wider range of 9500 to 10000 and 19000 to 21000)
  1. FII and DII net sold 1884Cr in the cash market. FII Sold 2960 Cr however, DII bought for 1076Cr. FII's have been selling now for 4 days in a row. The selling has intensified. The DII did not match enough to support the market.
  2. FII unwound a large number of long positions (5875) on futures though they also unwound a small number of shorts (460). This makes their position more negative now.  
  3. They sold equal number of calls and puts. So kind of neutral, however, they did buy a lot of puts. The act is more to protect on the downside.  
  4. The highest OI for PE is at 9500 and highest OI for CE has come down at 10500. 
  5. Reasonable call writing happened at 10000 levels, while put writing was allover the range from 9000 to 9700.
  6. BankNifty has highest put OI at 19000 and highest call OI at 21000. So as mentioned yesterday, the band has narrowed down towards the lower side. Put writing happened at 18500 and 19000 levels and call writing happened at 20500, 21000 levels. Put unwinding was seen at 20500 onwards. 
  7. All Asian markets closed in red today. Nikkei lost the most at 3.5%. European markets were marginally in the red today. 
  8. Dow was indicating a weak sentiment in today for the whole day. Probably one reason for the cautious sentiment in Asia and India today. However, as of now Nasdaq is marginally up. 
  9. The data indicates weakness embedding in the markets. 

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