29th Jun' 2020 (Evening)

29th Jun' 2020 (Evening)

  • Nifty and BankNifty, both rose from their intraday lows by 100 and 350 points respectively. Closed at day's high.
  • Futures data is extremely bearish. Continuous sustenance above 10300 and a rise towards 10400 on a sustained basis may trigger a short covering rally. 
  • DII are supporting the market so far, a withdrawal may trigger a sharp fall as well.
  • Market seems to be waiting for a strong trigger on either side.
  • I personally feel the turn maybe southward. lets wait and watch. On the sideways and alert till then.
  1. FII sold for 1937 Cr in the cash market today. DII bought again today for 1036 Cr. So net selling was 900 Cr.   
  2. FII's opened 4100 new shorts and closed 14000 longs. FII are now net short in the ratio 32:68. DII are also now on the short side.  
  3. On the option front FII sold more calls than puts. Almost 2.5 calls for every put sold.   
  4. For the weekly expiry, Nifty has the highest OI for PE at 10000 and highest OI for CE is at 10500. These are closely followed on the put side by 10100 and 10200. And on the calls side these are followed by 11000, 10300 and 10200. 
  5. Bank Nifty has highest call OI at 23000 closely followed by 22000 and then 22500 levels. Highest put OI is at 20500 levels followed by 20000 and 19500 levels. 
  6. All Asian markets closed in red today while most of the European markets closed in green. 
  7. Banking on stimulus hopes, US exchanges have recovered after a sharp fall on Friday.  
  8. The breadth of the market was weak.
  9.  Nifty opened at 10311 and then started sliding. Got support at 10220 and then closed at 10315.   
  10. Bank Nifty opened at 21291 slipped, picked support at 21000 and then closed at 21368.   

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