19th Jan'2021 (evening)

19th Jan'2021 (evening)

  • Supports mentioned yesterday played out well. Very clearly mentioned yesterday, the correction would not be deep and markets expected to pick up from 14250 and 31850 on Nifty and BankNifty respectively.
  • There was no heavy buying from the institutional side today. FII were playing mostly on the options side and have played out well. 
  • Both Nifty and BankNifty covered the lost ground today. Both breaking out of yesterdays candle and closing above yesterday's high. Though they are still within the all time highs. A fresh breakout is expected only above the ATH. 
  • Followup action tomorrow is also important to see.
  • Till this happens, Expect the market to trade within the ATH and yesterdays low. This means
    • Nifty between 14230 and 14660 .
    • BankNifty between 31660 and 32750.
  • For the current week expiry expect Nifty to close between 14400 and 14600 and BankNifty to close between 32300 and 32700. Based on ones risk appetite and management skills, Selling options outside these limits can be a way.
  • VIX has eased out a bit and that's a good sign.
  • Made some decent money on a BTST trade on Bajaj Twins, Reliance, Asian Paints.

1. FII were net Buyers for 257 Cr today, while DII were sellers for 199 Cr. A net buying of 58 Cr from the institutional side.

2. FII's created 6950 longs and created 2816 shorts on the indices

3. On the option front FII  unwound 4971 calls and   sold 9174 puts. They also bought 19411 calls and  squared 12620 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 14400 followed by 14300 and highest OI for CE is at 14600 followed by 15000. Reasonable Put writing was seen at 14500 and reasonable call writing was seen at 14650 and above levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 32000 followed by 30500 and highest OI for CE is at 32500 followed by 34000. Reasonable Put writing was seen at 32500 and reasonable call writing was seen at 32700 and above levels. 

6. Asian markets closed in green todaty and Europe was flat.

7. US markets are trading marginally green

8. The breadth of the market was positive today

9. Nifty opened at 14371 and made an intra day high of 14546 and a low of 14350 before closing at 14521 .The range of Nifty for the day was 196 points.

10. Bank Nifty opened at 32082 and made an intra day high of 32464 and a low of 31863 before closing at 32424 .The range of Nifty for the day was 601 points.

11. UD Dollar Index was inching higher at 90.48

12. Market rise was across the board. With Realty, Metals, Banking and financials leading the pack.

13. India VIX eased a bit to 22.9 today.


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