12th Jan'2021 (Evening)

12th Jan'2021 (Evening) 

  • Markets opened lower today and traded lower for some time, buying came later and helped elevate the markets. Bank Nifty as expected outperformed Nifty.
  • Was watching HDFCBank for a fresh breakout and an all time high. It gave the market the required support. Reliance also picked support with an already strong Auto and IT pack.
  • As mentioned in the week end analysis, sold BankNifty Puts below 31500. 
  • Markets have started getting choppy now. With VIX going up, yields going up, FII long position coming down, their flow in cash coming down and building up hedges indicate the market is now waiting for a trigger to correct. 
  • Markets from tomorrow till this expiry may remain choppy and caution is important.
  • Picked ITC, Reliance today and am trailing HDFCBank now. I expect HDFCBank to hit 1530. Lets see.
  • Band has widened on Nifty, may trade between 14200 - 14800. Bank Nifty though seems to indicate a band of 32000 - 33000

1. FII were net Buyers for 571 Cr today, while DII were sellers for 1334 Cr. A net selling of 763 Cr from the institutional side.

2. FII's unwound 10351 longs and created 1167 shorts on the indices

3. On the option front FII sold 12640 calls and sold 10738 puts. They also bought 7243 calls and unwound 355 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 14000 followed by 13500 and highest OI for CE is at 15000 followed by 14800. Reasonable Put writing was seen at 14500 and reasonable call writing was seen at 14600 and above levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 32000 followed by 31500 and highest OI for CE is at 32500 followed by 33000. Reasonable Put writing was seen at 32000 and 33000 and reasonable call writing was seen at 32500 and above levels. 

6. Asian markets closed mixed today and Europe closed in red.

7. US markets are trading flat as of now.

8. The breadth of the market was neutral today

9. Nifty opened at 14473 and made an intra day high of 14589 and a low of 14435 before closing at 14573 .The range of Nifty for the day was 154 points.

10. Bank Nifty opened at 31185 and made an intra day high of 32393 and a low of 31734 before closing at 32341 .The range of Nifty for the day was 659 points.

11. UD Dollar Index was trading at 90.36

12. Market was led by PSU Banks today. With many of them close to 10% gains. Tatamotors was the other star.

13. India VIX increased  to 22.85


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