12th Oct' 2020 (EVening)

12th Oct' 2020 (Evening)

  • Markets opened strong but quickly started seeing profit booking. Some support coming in at lower levels and later part of the day gave a reasonable closing.
  • FII were buyers in cash market and took bearish positions in the index futures and options. I guess the shorting happened in the morning and cash buying came in the later part of the day. We may see a neutral opening tomorrow. 
  • HDFC Bank saw some profit booking and became the reason for correction in Bank Nifty.
  • ITC and Infosys provided support to Nifty.
  • Nifty is now in a overbought zone and unless supported by heavy weights Reliance and HDFC may find difficult to move up further.
  • Bank Nifty is at a critical level of its 200 DMA and has to break this resistance to move further. So some interesting time ahead.

 

1. FII were net buyers for 615 Cr today, while DII were sellers for 1028 Cr. A net selling of -413 Cr from the institutional side.

2. FII's unwound 5895 longs and created 3627 shorts on the indices

3. On the option front FII sold 33766 calls and sold 16548 puts. They also bought 15593 calls and bought 17710 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 11500 followed by 11000 and highest OI for CE is at 12500 followed by 12000. Reasonable Put writing was seen at 11950/12000 and reasonable call writing was seen at 12000 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 23500 followed by 23000 and highest OI for CE is at 24000 followed by 24500. Reasonable Put writing was seen at 24000 and reasonable call writing was seen at 24000 levels. 

6. Most Asian markets closed in green and most European markets closed in green today.

7. US markets have opened on a positive note. All US indices are trading well in green as of now.

8. The breadth of the market today was mostly neutral today.

9. Nifty opened at 11973 and made an intra day high of 12020 and a low of 11867 before closing at 11936 .The range of Nifty for the day was 153 points.

10. Bank Nifty opened at 23955 and made an intra day high of 24186 and a low of 23554 before closing at 23711 .The range of Nifty for the day was 632 points.

11. UD Dollar Index was trading at 93.08

12. Market were led by IT and Pharma. L&T Infotech and mindtree were the movers in IT and Biocon in pharma.

13. India VIX Increased marginally to 21.13


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