12th Feb'2021 (Evening)

12th Feb'2021 (Evening)

  • Markets continued to consolidate within the range mentioned earlier. Nifty 14977 to 15257 and BankNifty between 35428 to 36615. Though Bank Nifty was strong and closed with a bullish candle for the day, while Nifty formed a small Doji kind of bearish candle.
  • On weekly TF both Nifty and Bank Nifty formed Doji candles. The range of Nifty and BankNifty is intact. Further trends would only evolve once this range is broken.
  • On the upside, Nifty may see a strong resistance around 15500-15600 zone, on the down side support expected at 14600 levels.
  • While the MTD FII inflows is already higher than Jan, they sold on Friday (though negligible). The cash inflow was going down for a few days and now negative. They also created decent shorts on the index futures. I presume this has been on Nifty.
  • I expect the market to consolidate within the range given above. Nifty may dip a bit before rising further and making a move towards 15500, so keeping a watch on the lower side will help. 
  • Close range for Nifty is 14950-15300. A wider range of 14500-15500 for safe trades.
  • Close range for Bank Nifty is 35500-36500. A wider range of 34500 to 37000 for safe trades. 
  • RBI open market operations supported the sentiment on the financial lot.
  • With Bank Nifty, Financials seem to be strong as of now. Keep a watch on the leaders Viz. HDFC, BAJFinsv, BajFinance etc.

1. FII were net sellers for 37 Cr today, while DII were sellers for 597 Cr. A net selling of 634 Cr from the institutional side.

2. FII's created 5 longs and created 7351 shorts on the indices

3. On the option front FII  sold 37850 calls and   sold 23726 puts. They also bought 17834 calls and  bought 17698 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 14000 followed by 15000 and highest OI for CE is at 16000 followed by 15500. Highest Put writing was seen at 15000 and highest call writing was seen at 16000 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 35500 followed by 34500 and highest OI for CE is at 37000 followed by 37500. Highest Put writing was seen at 35500 and highest call writing was seen at 37500 levels. 

6. Asian markets closed miwed flat to green and European markets also closed in green

7. US markets closed marginally in green

8. The breadth of the market was weak

9. Nifty opened at 15186 and made an intra day high of 15243 and a low of 15081 before closing at 15163 .The range of Nifty for the day was 162 points.

10. Bank Nifty opened at 35736 and made an intra day high of 36322 and a low of 35700 before closing at 36108 .The range of Nifty for the day was 622 points.

11. UD Dollar Index is trading at 90.45

12. Banking and IT performed. Most of the other sectors closed in red.

13. India VIX reduced to 22.04


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