5th Jan' 2021 (Evening)

5th Jan' 2021 (Evening)

  • Driven from the panic erupted in US, Markets opened negative today. The indices quickly recovered and continued strong and created a bullish engulfing candle on the daily charts.
  • Was expecting this healthy correction since Monday, it partly came on Monday and partly today.
  • The momentum is extremely bullish today. The options data suggests bulls in charge. If the US markets support today, I expect a gap up opening tomorrow.
  • IT and financials were strong today. Took long position on BajajFinSrv. Expect this to move based on the strength in the financial sector.
  • BankNifty gave a breakout above 31500 and seems strong now, to target a move towards all time high.
  • ITpack continues strong. Have been tracking TCS, Infosys and HCLTech for a long time now.
  • Nifty range has opened to move higher towards 14500 and BankNifty towards 32600 now.

1. FII were net buyers for 986 Cr today, while DII were sellers for 490 Cr. A net buying of 496 Cr from the institutional side.

2. FII's unwound -1956 longs and unwound -423 shorts on the indices

3. On the option front FII covered -15159 calls and sold 34021 puts. They also unwound -20252 long calls and bought 16690 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 14500 followed by 14300. Reasonable Put writing was seen at 14100 and reasonable call writing was seen at 14500 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 31000 followed by 30000 and highest OI for CE is at 32000 followed by 32500. Reasonable Put writing was seen at 31500 and reasonable call writing was seen at no levels. 

6. Most Asian markets were closed green today and Europe was mostly down.

7. US markets trading mixed as of now with Dow marginally down and Nasdaq marginally up.

8. The breadth of the market was neutral today. While it started with more declines it gradullay became equal.

9. Nifty opened at 14075 and made an intra day high of 14215 and a low of 14049 before closing at 14196 .The range of Nifty for the day was 166 points.

10. Bank Nifty opened at 31041 and made an intra day high of 31763 and a low of 30951 before closing at 31704 .The range of Nifty for the day was 812 points.

11. UD Dollar Index was trading at 89.65

12. Market were led by IT and Banking.

13. India VIX increased  to 20.46


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