11th Aug' 2020 (Evening)

 

11th Aug' 2020 (Evening)

  • As expected and mentioned yesterday, Bank Nifty made a good move today. It now has now built up a strong support at 22000. The range it is now playing for this expiry is between, 22000 and 22500. Aggressive selling can be done at 22000 PE, while safe may do at 21500 (Thought the premium is moderately low at 21500).
  • Nifty seems to be playing between 11000 and 11500. The support building at 11200 indicates a moderate risk by selling 11200 can give better returns. Though safe selling can continue at 11000.
  • ICICI Bank position was booked today. Made a total profit of 16% on capital deployed.
  • Took a fresh position on HDFC Bank today. Expect to achieve 1080.
  • Bank Nifty seems really strong.
  • Overall markets are bullish and any dips are good to buy.

1. FII were net buyers for 1013.66 Cr today, while DII were sellers for 1415.54 Cr. A net selling of -401.88 Cr from the institutional side.
2. FII's created 841 longs and ShortClosed 697 shorts on the indices
3. On the option front FII sold 15673 calls and short closed 4565 puts. They also bought 14447 calls and bought 6976 Puts.
4. For the next week expiry, Nifty has the highest OI for PE at 11000 followed by 11200 and highest OI for CE is at 11500 followed by 11400. Reasonable Put writing was seen at 11300 and reasonable call writing was seen at 11400 levels.
5. For the next week expiry, Bank Nifty has the highest OI for PE at 22000 followed by 21500 and highest OI for CE is at 22500 followed by 23000. Reasonable Put writing was seen at 22000 and reasonable call writing was seen at 22300 levels. Calls were unwound at 22000 levels.
6. Most of the Asian markets and European Markets closed strong today.
US Markets have opened higher due to statements from President Trump on tax cuts.
8. The breadth of the market today was generally strong. 
9. Nifty opened at 11322 and made an intra day high of 11372 and a low of 11299 before closing at 11332 .The range of Nifty for the day was 73 points.
10. Bank Nifty opened at 22050 and made an intra day high of 22276 and a low of 22043 before closing at 22243 .The range of Nifty for the day was 233 points.
11. UD Dollar Index is trading at 93.4. 
12. Metals and Banking were strong today. While Pharma and IT saw some profit booking. Axis and HDFC Bank in Banks and JSW Steel and Jindal Steel in Metals were prime movers.
13. India VIX fell 5% to 21.36

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