30th Jun' 2020 (Evening)

30th Jun' 2020 (Evening)

  • The indices opened gap up, got sold out, slipped and then got support to rise and close almost at the previous days levels.
  • FII bought some longs today and covered some shorts.
  • Selling by FII has again got intensified in the cash market. DII again supported the market today.
  • As mentioned yesterday, Market waiting to make a big move. Not sure if this comes in before this weeks expiry. 
  • Global Cues supporting the market and macros not in favor of the market. Seems to be a battle between virus and liquidity.
  • Wait to see the US close today and Global Cues coming in tomorrow.
  • Index heavy weights Reliance and HDFC Bank also seem to be exhausted. 
  1. FII sold for 2000 Cr in the cash market today. DII bought again today for 2051 Cr. So net buying was 51 Cr.    
  2. FII's opened 3280 new longs and covered 2270 shorts. Making them net shot in the ratio 35:65, slightly better than yesterday.   
  3. On the option front FII bought a lot of puts. Seems to be an effort to hedge.    
  4. For the weekly expiry, Nifty has the highest OI for PE at 10000 and highest OI for CE is at 10400 followed closely by 10500. Heavy call writing was seen at 10400 levels. 
  5. Bank Nifty has highest call OI at 22000 and highest put OI at 20500 levels. Reasonable put writing was seen at 20500, while call writing was seen above 22000 levels. 
  6. Asian markets were mostly green today and European markets were flat.  
  7. With Dow marginally red and S&P and Nasdaq in green, US exchanges are trading on a nervous note. 
  8. The breadth of the market was weak.
  9.  Nifty opened at 10382, rose to 10400 and then started sliding. Got support at 10267 before closing at 10307.   
  10. Bank Nifty opened at 21524 slipped, picked support at 21214 and then closed at 21376.   

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