8th June ' 2020


8th June'2020 (PM) (Evening)

Time 9:00 pm

1. FII bought 813Cr in the cash market whereas DII sold 1238 Crs in the Cash Market.

2. FII are net long to the tune of 7%, while they unwound 4800 longs and took fresh 1000 shorts.

3. FII bought  lot of puts at the same time they sold a lot of puts as well.

4. DII have been selling for the last 3 days, posing resistance for the index.

5. The highest OI for PE is at 10000 and highest OI for CE is at 10500. Though the second highest OI for PE is at 9800 and a bit of congestion for CE concentrated around the Spot price.

6. Reasonable call writing happened at 10400 and 10000 today. Indicating a close range between 10000 and 10400.

7. BankNifty has highest Put OI at 20000 and highest Call OI at 22000. There was reasonable writing at 21000 and 22000 today. Indicating a close range between 21000 and 22000.

8. Market made an intraday of 9933 on last weekly expiry (4th June). This seems to be an immediate support and a high of 10309 an immediate resistance for this week. 

9. Similarly on Banknifty the intraday low of 20235 seems to be an immediate support and 21760 as an immediate resistance for this week. 19709 stands as a very strong support in case it breaches the lower limit. On the upper side if the range is broken, sky is the limit.

10. SBI could not sustain its break on Friday evening. Would be of interesting to see its movement from here.

11. Most of the Asian Markets were flat today except Nikkei (it showed a good increase). European Markets were marginally down today.

12. US opened higher again today. The Euphoria continues as of now at least.

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