20th July' 2020 (Evening)

20th July' 2020 (Evening)

  • Markets opened gap up today and continued laying in narrow range before ending with some marginal gain.
  • As mentioned yesterday, Reliance lost steam, though it made some small gains.
  • The financial stocks seem to be the engines now. HDFC Bank and ICICI Bank made some decent growth today. 
  • Banking ADR's in US, indicating strong momentum. Expect some strong movements on Bank Nifty tomorrow.
  • Expect a range of 10800 to 11200 for Nifty. Bank Nifty has some strong support at 22000 and honestly i expect some wild movements tomorrow. Not sure on what is the upper limit of the range.
  1. FII were net buyers for 1709Cr today, while DII were sellers for 1521Cr. A net selling of 188Cr from the institutional side. 
  2. FII's positions on futures were kind of neutral. They created 1364 fresh positions and covered 2973 contracts on the indices.   
  3. On the option front FII sold more calls and also bought more calls.   
  4. For the next week expiry, Nifty has the highest OI for PE at 10800 followed by 10700 and 10600 and highest OI for CE is at 11200. Reasonable Put writing was seen at 10800, 10900 and 11000 levels. Call unwinding was seen up to 10900 levels. Call writing was seen above 11000 levels.   
  5. Bank Nifty has highest call OI at 23000 and highest Put OI at 21000 levels.    
  6. Asian markets closed flat today and European markets closed marginally in green.  
  7. While Nasdaq and S&P trade strong, Dow is flat. Bank ADR's are trading extremely bullish. HDFC Bank ADR is 9% up and ICICI Bank ADR is 7% up.
  8. The breadth of the market today was generally strong. .
  9. Nifty opened gap up at 10999 and made an intra week high of 11037 and a low of 10953 before closing at 11027. The range of Nifty for the day was 84 points.  
  10. Bank Nifty opened at 22307 and made an intra week low of 22280 and a high of 22516 before closing at 22280. The range of Bank Nifty for the day was 236 points.

Comments

Post a Comment

Popular posts from this blog

4th November' 2022 (Evening)

Image
4th November' 2022 (Evening)   --  | Written at 8.00 PM on 6th November' 2022  | Publishing the notes after a gap today. So first sorry for that. Having a full time day job, brings its own set of challenges and sometimes, the work pressure makes it extremely difficult to squeeze time to analyze and publish the analysis. I mentioned in the previous notes that a major resistance at 17900 will be breached and advised to watch the price action. The indices pleasantly obliged and have been holding strong at these levels. On Friday also, #Nifty made a strong bullish candle on the daily chart. It has also ended the weekly candle strong on a bullish note. #BankNifty is showing some exhaustion and is witnessing a brutal tug off war between bulls and bears. We will discuss all this, but before that, levels... From the levels above, 18200 seems to be a resistance level for #Nifty and 41550 the resistance for #BankNifty. However, if we compare the range of first support to first...
Read more

28th October' 2022 (Evening)

Image
28th October' 2022 (Evening)   --   |  Written at 9.30 PM on 30th October' 2022   | The last month closed on a high note. Starting weak, the month of October saw decent gains and closed almost at month highs. Market was still strong and on the first day of the current series also, the indices were relatively strong.  #Nifty made 4 consecutive bullish candles on the daily chart. #BankNifty made a bearish candle after 3 bullish candles, however still made a higher high and a higher low. Levels : Both #Nifty and #BankNifty are in a range of 17650 to 17900 and 39825 to 41550 respectively. In this range #BankNifty saw some profit booking on Friday, while #Nifty is yet to test the upper level. I expected #Nifty to test 17900 on Friday, however this did not happen. This may probably get breached in the opening tomorrow. Important to see is that will this trigger a profit booking and a rejection of the level or will the level hold. On Friday, the first tr...
Read more

25th October' 2022 (Evening)

25th October' 2022 (Evening)   --   |  Written at 11.00 PM on 26th October' 2022  | 1. FII were net selling for 247 Cr today, while DII were buyers for 872 Cr. A net buying of 625 Cr from the institutional side. 2. FII's created 1390 longs and unwound 17862 shorts on the index futures 3. On the option front FII  unwound 7656 short calls and   unwound 28440 short puts. They also closed 34543 long calls and  closed 96232 long Puts. 4. For next week expiry, Nifty has the highest OI for PE at 17500 followed by 17600 and highest OI for CE is at 18000 followed by 17800. Highest Put writing was seen at 17700 and highest call writing was seen at 17800 levels. 5. For the next week expiry, Bank Nifty has the highest OI for PE at 40000 followed by 40500 and highest OI for CE is at 42000 followed by 41500. Highest Put writing was seen at 41100 and highest call writing was seen at 41500 levels.  6. Asian markets closed mostly in green today and ...
Read more