13th Aug' 2020 Evening (Evening)

13th Aug' 2020 (Evening)
  •  While Markets opened strong, the early gains in the day were washed out later. Nifty after touching an intraday high of 11359 corrected to 11270 but finally closed at 22230.
  • Similarly, Bank Nifty after touching an intraday high of 22438, finally settled at 22230.
  • The indices continue to be strong and as mentioned this continues to be a buy on dip rally.
  • Nifty enjoys support at 11200 and Bank Nifty at 22000.
  • I have shorted 22500 PE for August expiry and collected a healthy premium of 650 INR per lot. Risk only below 21850. Plan to convert into futures if it falls to that level.
  • Continue to hold HDFC Bank futures. While i expected an exit today (@1080). Hope to get the same in coming week.
  • Bullish on Bank Nifty and wait to see a strong momentum build.

1. FII were net buyers for 416.28 Cr today, while DII were sellers for 763.54 Cr. A net selling of -347.26 Cr from the institutional side.
2. FII's created 4876 longs and covered 3030 shorts on the indices
3. On the option front FII sold -40112 calls and short closed -26218 puts. They also bought -35057 calls and bought -31791 Puts. Being an expiry day, this data is actually not important
4. For next week expiry, Nifty has the highest OI for PE at 10400 followed by 11300 and highest OI for CE is at 12000 followed by 11500. Reasonable Put writing was seen at 11300 and reasonable call writing was seen at 11300 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 22500 and reasonable call writing was seen at 22500 levels. Calls were unwound at 22000 levels.
6. Most of the Asian markets closed in green today while European Markets closed in red today.
7. US Markets have opened higher. Nasdaq running strong. Dow and S&P flat.
8. The breadth of the market today was average.
9. Nifty opened at 11334 and made an intra day high of 11359 and a low of 11270 before closing at 11311 .The range of Nifty for the day was 89 points.
10. Bank Nifty opened at 22395 and made an intra day high of 22438 and a low of 22142 before closing at 22230 .The range of Nifty for the day was 296 points.
11. UD Dollar Index is trading at 93.2
12. Nifty Auto and Nifty Metals made some gains today, while PSU Banks and Pharma fell a percentage point.
13. India VIX fell 5% to 20.38

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