15th Jan'2021 (evening)

15th Jan'2021 (evening)

  • FII buying has shrunk lately with a change in their long position in futures. Their longs have come down from 83:17 to 67:33 now.
  • From last 2-3 days, the market pattern has changed. It opens high, plunges and then buying comes in, but it closes lower. Friday buying was late and less. The pattern induces caution.
  • On a lower time scale the highs are lower and lows are also lower. While the supports of 14250 on Nifty and 32000 on Bank Nifty are intact, Caution advised in short term. As of now, long term bullish trend is intact. A short term bearish trend may emerge if Nifty breaches 14250 and for BankNifty if it breaches 31850.
  • The IT stocks have shown a correction after their results, probably the bets on the price was higher. Can be watched for an entry if one has missed earlier. Though the right levels have to be decided as per ones investment horizon.
  • HDFCBank result was extremely good. However, the amount of it is factored in the price is not clear. So will have to wait and watch for the price action tomorrow. This could also set the tone for other banking results.
  • The Dollar Index is inching higher and may go above 91, not a good sign for the Emerging markets..
  • The Vaccination roll out in India and PM address would have created some positive sentiments. Though may be a non event as far as markets are concerned.

1. FII were net Buyers for 971 Cr today, while DII were sellers for 942 Cr. A net buying of 29 Cr from the institutional side.

2. FII's unwound 4168 longs and created 6841 shorts on the indices

3. On the option front FII sold 47345 calls and sold 16650 puts. They also bought 29763 calls and  39698 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 14000 followed by 14500 and highest OI for CE is at 14600 followed by 15000. Reasonable Put writing was seen at 14200 and reasonable call writing was seen at 14500 and above levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 30000 followed by 31000 and highest OI for CE is at 32500 followed by 35500. Reasonable Put writing was seen at 32000 and reasonable call writing was seen at 32500 levels. 

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

7. US markets closed in red.

8. The breadth of the market was negative today

9. Nifty opened at 14594 and made an intra day high of 14616 and a low of 14358 before closing at 14434 .The range of Nifty for the day was 258 points.

10. Bank Nifty opened at 32508 and made an intra day high of 32538 and a low of 32046 before closing at 32248 .The range of Nifty for the day was 492 points.

11. UD Dollar Index was inching higher at 90.7

12. Market fall was specifically led by the It stocks and followed by Pharma and literally everything else.

13. India VIX increased  4% to 24


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