10th Feb'2021 (Evening)

10th Feb'2021 (Evening)

  • Nifty opened marginally in green, made a slight up move and then started seeing selling. Though it recovered later, saw some selling again, only to recover and close flat. Creating a hanging man kind of candle. Though intraday it breached the support of 15041, it closed above this support level.
  • Bank Nifty opened marginally in red, saw a rise and then profit booking, recovered and then suffered a second bout of selling, again to recover slightly. It closed with a loss of 273 points. Making a bearish candle with a long lower whack.
  • As mentioned yesterday, BankNifty seems to be weaker than Nifty. New sectors of IT and Pharma have seen a rise over the last 2 days. If IT sees some selling tomorrow, Nifty may see some more weakness. Reliance if picks up, can support Nifty though. Till Nifty is closing above 15041, a trend reversal is not to be suspected. Todays, intraday low was 14977, so that also becomes an important level to watch for tomorrow and day after.
  • Bank Nifty range of Friday was also breached on the lower side today. Though BN recovered and closed above that. BankNifty can only pick up once it breaches the earlier high of 36615. It is a strong resistance for the moment and safe to write calls.
  • With US markets trading under pressure as of now, need to watch the close for tomorrow's levels.
  • As tweeted today, HDFCLIFE was strong and is a good buy. Auto sector moved, but Maruti did not move much. Lets see tomorrow.
  • Nifty range for tomorrow, 14900 to 15100. bank Nifty range for tomorrow, 35500 to 36000.

1. FII were net Buyers for 1786 Cr today, while DII were sellers for 2075 Cr. A net selling of 289 Cr from the institutional side.

2. FII's created 62 longs and unwound 632 shorts on the indices

3. On the option front FII  sold 12004 calls and   sold 7516 puts. They also bought 24005 calls and  bought 17266 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 15000 followed by 14500 and highest OI for CE is at 15200 followed by 15300. Highest Put writing was seen at 14900 and highest call writing was seen at 15100 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 35000 followed by 35500 and highest OI for CE is at 36000 followed by 36500. Highest Put writing was seen at 35500 and highest call writing was seen at 36000 levels. 

6. Asian markets closed flat to green and European markets closed in red today

7. US markets trading marginally in red with a negative bias.

8. The breadth of the market was weak today.

9. Nifty opened at 15119 and made an intra day high of 15168 and a low of 14977 before closing at 15106 .The range of Nifty for the day was 191 points.

10. Bank Nifty opened at 36042 and made an intra day high of 36227 and a low of 35428 before closing at 35783 .The range of Nifty for the day was 799 points.

11. UD Dollar Index is trading at 90.38

12. Realty, Pharma and IT stocks moved today, while Bank Nifty was the biggest laggard

13. India VIX reduced to 23.92


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