17th Jun' 2020 (Evening)

17th Jun' 2020 (Evening)

  • Markets opened with caution today, but gained ground through the day. in the second half though the banking stocks saw pressure and led to selling. Indices closed near the lower end of the trading range. Indicating caution. 
  • Difficult to indicate for tomorrow, though as of now option data suggests a trading range of 9800 to 1000 for tomorrow. Bank Nifty seems to have a trading range of 19500 to 20500.
  • As usual lets see the opening of the market and global cues coming in for tomorrow morning. 
  1. FII again sold 486Cr today, while DII bought 168Cr. Though the selling from FII continues, it has reduced substantially.
  2. FII's unwound around 4600 Shorts and opened a small number of longs on futures. Their net status on futures is neutral now. 
  3. They wrote both calls and puts almost in equal amounts.  
  4. Nifty has the highest OI for PE at 9500 closely followed by 9700 and and highest OI for CE is at 10000 followed by 10200 and 10300.
  5. Reasonable call writing happened at  9900 levels followed by 10300 levels. Aggressive put writing was seen at 9900 levels.
  6. Bank Nifty continues to have highest call OI at 21000 and highest put OI has moved up to 19500 levels. Heavy put writing at 19500 moved up the band's lower limit to 19500. On call side writing was seen at 21000 and 20500 levels. 
  7. Asian markets opened with caution and in red. Covered through the day and cllosed in green. European markets also ended in green.
  8. Nasdaq is trading again in green today. 
  9. The caution with which the markets started trading today in Asia, seems to have been won by some optimism now. 
  10. The breadth of the market was favorable.
  11.  Nifty opened at 9876, saw a high of 10002 and closed at the same opening level of 9877. 
  12. Similarly Bank Nifty opened at 20137, saw a high of 20624 before closing at 20197.

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