18th Jun' 2020 (Evening)

18th Jun' 2020 (Evening)

  • Markets opened with caution today, but gained ground through the day. As mentioned this morning and yesterday as well, The second half saw a fantastic rally coming in and the markets closed strong at the days high.
  • US markets are slightly cautious at the moment because of the employment data.
  • Markets have built up a strong momentum and the trading range for the week seems between 9700 and 10500 as of now on Nifty and 19500 to 22000 on Bank nifty.
  • The opening day trade will set the contraction of this band to a more realistic close band.
  • Expecting a strong support at 9700 and  19500 for this week as well.
  1. FII bought in the cash market after some time. A buying of 366 Cr by FII and 1131 Cr by the DII lifted the indices in the second half of the day. 
  2. FII's opened 500 fresh longs and covered around 4000 shorts. This took them again to a net long status on the Index futures.  
  3. Being a weekly Expiry day, the option data is confounded.
  4. For the next week (also monthly expiry), Nifty has the highest OI for PE at 9000 closely followed by 9500 and and highest OI for CE is at 10500 followed by 10000.
  5. Some call writing seen at  10400 levels. Aggressive put writing was seen at 9000, 9800 and 9900 levels.
  6. Bank Nifty continues to have highest call OI at 22000 and highest put OI at 20000. Aggressive put writing at 20000 and 20500 was seen and call writing was seen at 21000 upto 23000. 
  7. Asian markets closed marginally in red today, the European markets also followed suit. The damp sentiment with the markets opened today continued through the day. 
  8. US is trading mixed right now. Dow marginally in red, S&P flat and Nasdaq marginally in green.
  9. The breadth of the market was extremely favorable.
  10.  Nifty opened at 9863, saw a second half rally and closed at the day's high of 10090.  
  11. Similarly Bank Nifty opened at 20137, and closed at 20919.

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