6th Jan' 2021 (Post Market)

6th Jan' 2021 (Post Market) 

  • Market opened gap up but could not sustain the opening. Gradually started slipping and Nifty closed in red while BankNifty closed marginally green.
  • The volatility driven from US and corona fears curtailed the movements and introduced caution. 
  • The bullish positions taken by FII in options yesterday are more or less reversed. Though the positive sentiment in US will change the mood tomorrow morning, I guess.
  • There is a tug of war between vaccine roll out and rising cases. With more and more regions facing a rise in cases, a sense of caution has been introduced.
  • Volatility index is rising for 3 days now, though not in a region of concern as of now.
  • I see a Nifty range of 14000 to 14200 for tomorrow, though a strong US close can influence this range slightly.
  • BankNifty range expected is 31700 to 32300. Again important to watch US close today and the opening tomorrow.

1. FII were net sellers for 483 Cr today, while DII were sellers for 380 Cr. A net selling of 863 Cr from the institutional side.

2. FII's unwound -3091 longs and unwound -170 shorts on the indices

3. On the option front FII sold 32516 calls and covered -21118 puts. They also bought 61964 calls and bought 32976 Puts.

4. For next week expiry, Nifty has the highest OI for CE at 14500 followed by 14200 and highest OI for PE is at 14000 followed by 14100. Reasonable Put writing was seen at no level and reasonable call writing was seen at 14200 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 32000 and reasonable call writing was seen at 32000 levels. 

6. Asian markets closed mixed today and Europe closed strong. 

7. US markets trading strong in green as of now.

8. The breadth of the market was weak today.

9. Nifty opened at 14240 and made an intra day high of 14241 and a low of 14040 before closing at 14132 .The range of Nifty for the day was 201 points.

10. Bank Nifty opened at 31839 and made an intra day high of 31978 and a low of 31552 before closing at 31736 .The range of Nifty for the day was 426 points.

11. UD Dollar Index was trading at 89.56

12. Market leaders IT, Banks, Financials and FMCG were all negative today. Metals moved and telecom moved.

13. India VIX increased  to 21

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