27th Jan'2021 (Evening)

27th Jan'2021 (Evening)

  • FII has sold for the third consecutive day and the selling got intensified. My view yesterday went wrong. The bullish outlook in FnO is today diluted. More shorts were created than longs, more calls were sold and put longs were squared off.
  • The selling is driven from a global sell off today. Europe sold and US is selling as I am writing this blog.
  • Both supports I mentioned were broken today on Nifty, While Bank Nifty is a bit away from the second support i mentioned yesterday. Though, I also warned the volatility may get crazy movements.
  • Nifty is now at an important support of 13956, if broken tomorrow then the next support expected would be at 13865. Major support only comes it at its 50DEMA of 13700. BankNifty is now at its 50DEMA, if broken, now may make a move towards its support at 28976. Though on the upside resistance would be seen at 14230 and 31500 respectively. 
  • FII have been booking profit for the last 4 days. Nifty has corrected by 800 points and Bank Nifty has shown a movement of 2500 points from the recent highs. 
  • Volatility is driven by Budget and monthly expiry. I feel, markets would take a direction only after budget. 
  • As mentioned yesterday, no trades in this month. No expectations for tomorrow. Lets see what happens.

1. FII were net sellers for 1688 Cr today, while DII were sellers for 3 Cr. A net selling of 1691 Cr from the institutional side.

2. FII's created 5239 longs and created 18004 shorts on the indices

3. On the option front FII  sold 41086 calls and   unwound 7621 puts. They also bought 30915 calls and  bought 23346 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 13500 followed by 14000 and highest OI for CE is at 14700 followed by 14500. Highest Put writing was seen at 13900 and highest call writing was seen at 14100 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 29500 followed by 30000 and highest OI for CE is at 31500 followed by 32000. Highest Put writing was seen at 29500 and highest call writing was seen at 31500 levels. 

6. Asian markets closed mixed today while Europe closed red

7. US markets are trading in red. Volatility prevails in US as well.

8. The breadth of the market was etremely negative today.

9. Nifty opened at 14237 and made an intra day high of 14237 and a low of 13929 before closing at 13967 .The range of Nifty for the day was 308 points.

10. Bank Nifty opened at 31236 and made an intra day high of 31287 and a low of 30165 before closing at 30284 .The range of Nifty for the day was 1122 points.

11. UD Dollar Index is trading at 90.57

12. Market fell across all sectors. BankNifty led the fall today.

13. India VIX rose to 24.39


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