17th Aug' 2020 (Evening)

17th Aug' 2020 (Evening)

  • Markets opened gap up today and as expected it was quickly sold out. Though, support was found at 11145 for Nifty and 21450 for Bank Nifty. Though Friday's low were protected, the highs were also not broken. Markets operated within the Friday range. 
  • Wait to see the action tomorrow for a breakout on either side. I feel the move should be towards higher side.
  • AGR has been hanging on Reliance and a planned lawsuit on HDFC Bank. Maybe one reason for pressure on Nifty and Bank Nifty.
  • As of now markets range bound. The build up of OI indicates a Nifty range of 11200-11400 for aggressive traders and 11000-11500 for safe investors.
  • For Bank Nifty this range plays between 21500-22000 for aggressive investors and for safe investors this range could be 21000 -22500.
  • And i still hold my positions on Bank Nifty and HDFC Bank. :-)
1. FII were net buyers for 332.9 Cr today, while DII were sellers for 717.62 Cr. A net selling of -384.72 Cr from the institutional side.
2. FII's created 13522 longs and covered 5670 shorts on the indices
3. On the option front FII sold 7370 calls and sold 19881 puts. They also bought 16283 calls and bought 16406 Puts.
4. For 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 11200 and reasonable call writing was seen at 11550 levels.
5. For the next week expiry, Bank Nifty has the highest OI for PE at 21500 followed by 20500 and highest OI for CE is at 22500 followed by 22000. Reasonable Put writing was seen at 21400 and reasonable call writing was seen at 22000 levels. Calls were unwound at 22000 levels.
6. Asian markets closed mixed and European markets closed in green today.
7. US markets have opened on a postive note. As of now Nasdaq is trading 0.8% up.
8. The breadth of the market today was strong today.
9. Nifty opened at 11248 and made an intra day high of 11266 and a low of 11145 before closing at 11259 .The range of Nifty for the day was 121 points.
10. Bank Nifty opened at 21906 and made an intra day high of 21906 and a low of 21404 before closing at 21754 .The range of Nifty for the day was 502 points.
11. UD Dollar Index was trading at 92.86
12. Market were led by Metals and Auto stocks today. Jindalsteel and Motherson were the flag bearers.
13. India VIX fell to 21.31

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