7th August' 2020 (Evening)

 

7th August' 2020 (evening)

  • The indices were range bound on Friday. Absence of major cues ad the recent run up has been the reason for markets to consolidate it seems.
  • Bank Nifty is facing major resistance at 22000. Nifty is moving in a range of 11000 to 11300. 
  • The trigger to break this range may come from the AGR verdict tomorrow. That may move Bank Nifty and the telecom stocks. This would reflect on Nifty as well.
  • Watch closely on the same.
  • For Bank Nifty to move, HDFC Bank has to move. While Bank Nifty has a lot of runway to catch up with Nifty, it has been cautiously moving for some time now. A bit of action was seen on Friday as well, but selling comes in nearing 22000. Has to break this range. Lets watch for the action tomorrow.
  • I believe other than AGR, there is no major Cue, so watch for Global Cues coming in.
  • I see Nifty playing between 11000 and 11300 as of now and Bank Nifty seems to have picked up support at 21500. Though the upper range of 22000, still needs to be taken away.

1. FII were net buyers for 397.32 Cr today, while DII were sellers for 438.62 Cr. A net selling of -41.3 Cr from the institutional side.
2. FII's created 3542 longs and created 4230 shorts on the indices
3. On the option front FII sold 15940 calls and sold 26613 puts. They also bought 9461 calls and bought 26347 Puts.
4. For the next week expiry, Nifty has the highest OI for PE at 11000 followed by 11100 and highest OI for CE is at 11500 followed by 11300. 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 22000 followed by 23000. Reasonable Put writing was seen at 21500 and reasonable call writing was seen at 22000 levels
6. Asian markets closed in red today and European markets closed flat.
US markets closed flat with Nasdaq closing a 3/4th percentage loss.
8. The breadth of the market today was generally strong. 
9. Nifty opened at 11186 and made an intra day high of 11231 and a low of 11145 before closing at 11215 .The range of Nifty for the day was 86 points.
10. Bank Nifty opened at 21620 and made an intra day high of 21784 and a low of 21459 before closing at 21760 .The range of Nifty for the day was 325 points.

Comments

Post a Comment

Popular posts from this blog

4th November' 2022 (Evening)

Image
4th November' 2022 (Evening)   --  | Written at 8.00 PM on 6th November' 2022  | Publishing the notes after a gap today. So first sorry for that. Having a full time day job, brings its own set of challenges and sometimes, the work pressure makes it extremely difficult to squeeze time to analyze and publish the analysis. I mentioned in the previous notes that a major resistance at 17900 will be breached and advised to watch the price action. The indices pleasantly obliged and have been holding strong at these levels. On Friday also, #Nifty made a strong bullish candle on the daily chart. It has also ended the weekly candle strong on a bullish note. #BankNifty is showing some exhaustion and is witnessing a brutal tug off war between bulls and bears. We will discuss all this, but before that, levels... From the levels above, 18200 seems to be a resistance level for #Nifty and 41550 the resistance for #BankNifty. However, if we compare the range of first support to first...
Read more

28th October' 2022 (Evening)

Image
28th October' 2022 (Evening)   --   |  Written at 9.30 PM on 30th October' 2022   | The last month closed on a high note. Starting weak, the month of October saw decent gains and closed almost at month highs. Market was still strong and on the first day of the current series also, the indices were relatively strong.  #Nifty made 4 consecutive bullish candles on the daily chart. #BankNifty made a bearish candle after 3 bullish candles, however still made a higher high and a higher low. Levels : Both #Nifty and #BankNifty are in a range of 17650 to 17900 and 39825 to 41550 respectively. In this range #BankNifty saw some profit booking on Friday, while #Nifty is yet to test the upper level. I expected #Nifty to test 17900 on Friday, however this did not happen. This may probably get breached in the opening tomorrow. Important to see is that will this trigger a profit booking and a rejection of the level or will the level hold. On Friday, the first tr...
Read more

25th October' 2022 (Evening)

25th October' 2022 (Evening)   --   |  Written at 11.00 PM on 26th October' 2022  | 1. FII were net selling for 247 Cr today, while DII were buyers for 872 Cr. A net buying of 625 Cr from the institutional side. 2. FII's created 1390 longs and unwound 17862 shorts on the index futures 3. On the option front FII  unwound 7656 short calls and   unwound 28440 short puts. They also closed 34543 long calls and  closed 96232 long Puts. 4. For next week expiry, Nifty has the highest OI for PE at 17500 followed by 17600 and highest OI for CE is at 18000 followed by 17800. Highest Put writing was seen at 17700 and highest call writing was seen at 17800 levels. 5. For the next week expiry, Bank Nifty has the highest OI for PE at 40000 followed by 40500 and highest OI for CE is at 42000 followed by 41500. Highest Put writing was seen at 41100 and highest call writing was seen at 41500 levels.  6. Asian markets closed mostly in green today and ...
Read more