26th Jun' 2020 (Evening plus weekend)

26th Jun' 2020 (Evening plus weekend)

  • The week saw volatility again. Being the expiry week, anyways it was expected.
  • FII data indicates a bearishness creeping in now. DII also have aligned with this sentiment. 
  • US fall on Friday was spooky and would drive the sentiment of Asian Markets tomorrow.
  • Fresh hike in Corona cases in US have brought in a fear of a slowdown of economic activity and also a possibility of fresh lock downs. However, liquidity injection keeps mitigating this risk.
  • While the overall sentiment remains negative, we will watch for opening trades and global cues tomorrow.
  • As of now, i see a broad range of 10000 and 10500 for Nifty and 20000 to 23000 for Bank Nifty.
  1. FII Sold for 763Cr in Cash market. DII bought 1304Cr in cash market. Net buying was  551Cr. 
  2. FII's opened 6600 longs and 10400 shorts. They are now net short with a ratio of 42:58. This now gets FII and DII aligned for both being net short.  
  3. On the option front FII sold more calls than puts. So they have a bias to being bearish on indices.   
  4. For the next week expiry, Nifty has the highest OI for PE at 10000 and highest OI for CE is at 11000 closely followed by 10500. Call writing was seen 10300 upwards and put writing was seen from 10300 downwards.  
  5. Bank Nifty has highest call OI at 23000 closely followed by 22500 and 22000 levels. It has highest put OI at 20000 level. and highest put OI at 21000 levels. 
  6. Asian markets closed mixed, though with a bias towards green. European markets closed flat. 
  7. All US exchanges closed almost 2.75% red. A deep correction on the US markets will push the Asian markets in pressure tomorrow.  
  8. The breadth of the market was good.
  9. On a weekly basis Nifty opened at 10318 and made an intra week high of 10553 and then a low 10194 before closing at 10400.
  10. Bank Nifty opened at 21491 and made a high of 22479 and a low of 20926 before closing at 21660.   

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