22nd Jun' 2020 (Evening)

22nd Jun' 2020 (Evening)

  • As thought yesterday, Markets saw some profit booking by DII's today. FII data is also seemingly peaking out now. The option data suggests some sort of peaking out, though expected to enjoy a strong support at today's lows.
  • The range of the indices seem to be 10200 to 10400 now. While on a safer side the wider range continues to be 10000 to 10500.
  • Bank Nifty seems to be playing between, 21500 to 23000 levels.  The base seems to have shifted to 21000 and seemingly capped at 23000 levels as of now.
  • As always, lets watch the morning action for further cues.
  1. FII bought for 424 Cr in the cash market today. As mentioned yesterday, The DII however, booked profits and sold another 1287 Cr in the cash market. The net was thus a selling of 356 Cr.  
  2. FII's opened 4000 fresh longs and 1400 fresh shorts. They are now 57% long to 43% short. Substantial long unwinding was also seen for Stock futures.
  3. On the option side FII bought more puts than calls and sold more calls than puts. 
  4. For the next week (also monthly expiry), Nifty has the highest OI for PE at 10000 and highest OI for CE is at 10500. The put writing was more aggressive than call writing.
  5. Reasonable Call writing seen  near the spot price, whereas, call writing was far away from the spot price. Call unwinding was seen at 10200.
  6. Bank Nifty has highest call OI at 23000 and highest put OI at 20000 levels. Again here also, put writing was more aggressive than call writing. The second highest OI for puts was at 21000 and for calls it was 22500.
  7. Both Asian and European markets were in marginal red today. Indicating a degree of caution.
  8. After a flat close and falling from intraday high, Nasdaq runs a bit in green as of now. 
  9. The breadth of the market was favorable again today.
  10.  Nifty opened gap up at 10318, saw support coming in at 10280 levels and resistance at 10390, before closing at 10323. 
  11. Bank Nifty opened gap up, consolidated and continued to rise. Saw resistance at 22077 before closing at 21737. 
  12. Bajaj stocks were strong gainers for the day. On the banking side, HDFC saw some profit booking today, while ICICI Bank and Kotak stood strong. 

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