24th Jun' 2020 (Evening)

24th Jun' 2020 (Evening)

  • Selling from DII was expected. Thought it would come in yesterday, but saw that happening today. FII bought in the cash market and Institutional buying was net green. The index still lost heavily. Honestly, i am wondering on who sold then? 
  • The market data suddenly has changed extremely bearish. 
  • Global cues are extremely negative as well. No thoughts for tomorrow. 
  • Would wait to see the Cues coming in tomorrow morning and then decide.
  1. FII bought for 1766Cr. DII sold for 1524Cr. The net buying was thus for 242 Cr.  
  2. FII's opened 7000 shorts and unwound 9000 longs. This suddenly changed the bias from 55:45 to 49:51 in favor of bears. A huge amount of positions on the stock futures were shed today as well. 
  3. On the option front as well, they sold a huge amount of call and bought a huge amount of puts.  
  4. For the expiry, Nifty has the highest OI for PE at 10000 and highest OI for CE is at 10500. Call writing was extremely aggressive and puts were unwound almost at all strikes. 
  5. Bank Nifty has highest call OI at 23000 and highest put OI at 21000 levels. Again here also, heavy call writing was seen. 
  6. All Asian and European markets are in deep red today. The sentiment is extremely negative.
  7. All US exchanges trade extremely weak and are already substantially down. 
  8. The breadth of the market was weak.
  9.  Nifty opened gap up at 10529, it then slumped and closed at 10320 before hitting a low of 10282.  
  10. Bank Nifty opened at 22479 and then closed at 21457 after hitting a low of 21340.  

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