14th Aug' 2020 (Evening)

 

14th Aug' 2020 (Evening)

  • The markets opened positively on Friday. Around 1.30 a sharp fall was observed. Nifty showed a movement of 250 points and Bank Nifty moved 800 points intraday.
  • Markets recovered a bit by the end of the day and Nifty closed 120 points down and Bank Nifty 500 points down on a closing basis.
  • I personally feel this was a knee jerk reaction to global moves. European markets opened lower and US futures also fell marginally. Since our markets are also running high in a sensitive zone, it lead to a profit booking. 
  • DII selling continues as normal and FII did not seel. In fact they are net buyers. 
  • Monday is also the AGR verdict day. However, i feel the news probably is factored into the movements. So it should not be a big event. However, sentimental movements cannot be ruled out.
  • Nifty took support at its 20 day DEMA and Bank Nifty took support at its 50DEMA. I feel the positive sentiment should continue. We will see a confirmation of this tomorrow. 
  • Watch out for the first hour trade, If the slip continues and Nifty doesnt maintain its low, breaks 11100 then the slip may continue. Similarly, Bank Nifty if it breaks 21500 the slip may continue a bit further.
  • However, i personally feel that the markets should pick support (Nifty @ 11100 and Bank Nifty @ 21500 ) and continue its journey. I would be cautious though.
  • I continue to hold my positions on Bank Nifty and HDFC Bank.
  • Stocks to watch are in Metals as well. Tata Steel seems strong. Stay away from telecom stocks (including Reliance).
1. FII were net buyers for 46.39 Cr today, while DII were sellers for 797.08 Cr. A net selling of -750.69 Cr from the institutional side.
2. FII's created 2015 longs and covered 4625 shorts on the indices
3. On the option front FII sold 16553 calls and short closed 18759 puts. They also bought 15799 calls and bought 22905 Puts.
4. For next week expiry, Nifty has the highest OI for PE at 11000 followed by 10800 and highest OI for CE is at 11300 followed by 11400. Reasonable Put writing was seen at 11000 and reasonable call writing was seen at 11300 levels.
5. For the next week expiry, Bank Nifty has the highest OI for PE at 21500 followed by 21000 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 21000 levels. Calls were unwound at 22000 levels.
6. Asian markets closed mixed and Weuropean markets closed in red today. 
US markets were flat.
8. The breadth of the market today was weak.
9. Nifty opened at 11353 and made an intra day high of 11366 and a low of 11112 before closing at 11181 .The range of Nifty for the day was 254 points.
10. Bank Nifty opened at 22334 and made an intra day high of 22334 and a low of 21461 before closing at 21693 .The range of Nifty for the day was 873 points.
11. UD Dollar Index was trading at 93.09
12. In a genrerally weak market, Nifty Pharma and Nifty Metals made gains today.
13. India VIX increased to 21.67

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