13th Jan'2021 (Evening)

13th Jan'2021 (Evening)

  • As mentioned yesterday, markets were very volatile today. Nifty moved 216 points and Bank Nifty moved 526 points through the day.
  • Reliance as expected picked up support at 1900 and moved for 70 points before the rally fizzled, It has been rangebound between 1890 and 2038 levels. 
  • Seeing the BankNifty going down, booked profit on the HDFCBank position being carried. Also booked profits on ITC, though i feel this was too early to book ITC. 
  • BankNifty seems very strong as of now. After the profit booking at ATH levels, picked up support at 32100 and closed above 32500. HDFCBank and ICICIBank seem particularly strong.
  •  Nifty has a range of 14500 -14700 and BankNifty sees a tough fight between bulls and bears. I feel BankNifty has support at 32500, however the range could be wider due to the higher volatility and a bit of uncertainty, Caution advised.
  • BhartiArtl saw some strong buying today due to the MSCI weightage hopes. Though it quickly saw some profit booking and came down from the highs. Strong.
  • BajajFinSv and BajFinance at a small support as of now. A small opportunity can be extracted there.
  • SBIN silently climbed above 300.
  • A careful expiry trading to be exercised if one is trading expiry tonorrow.

1. FII were net Buyers for 1879 Cr today, while DII were sellers for 2370 Cr. A net selling of 491 Cr from the institutional side.

2. FII's unwound 7483 longs and created 2630 shorts on the indices

3. On the option front FII sold 36203 calls and sold 13378 puts. They also bought 59012 calls and  50387 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 14500 followed by 14000 and highest OI for CE is at 14600 followed by 14700. Reasonable Put writing was seen at 14500 and reasonable call writing was seen at 14600 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 32500 followed by 32000 and highest OI for CE is at 32500 followed by 33000. Reasonable Put writing was seen at 32500 and reasonable call writing was seen at no levels. 

6. Asian markets closed mixed today and Europe was flat.

7. US markets are trading flat as  of now

8. The breadth of the market was negative today

9. Nifty opened at 14639 and made an intra day high of 14652 and a low of 14436 before closing at 14558 .The range of Nifty for the day was 216 points.

10. Bank Nifty opened at 32546 and made an intra day high of 32681 and a low of 32155 before closing at 32557 .The range of Nifty for the day was 526 points.

11. UD Dollar Index was trading at 90.35

12. Market was led by PSU Banks again today. Auto and energy supported the market

13. India VIX increased  to 23.29


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