16th Feb'2021 (Evening)

16th Feb'2021 (Evening)

  • Nifty opened gap up but quickly saw profit booking and started sliding. Selling was majorly driven by Banking and IT stocks.
  • Bank Nifty followed a similar trajectory, opened strong, slipped and then took support to recover some losses, but closed with some losses.
  • DII sold in the morning, after the market opened gap up, FII buying came in late and supported the market. Nifty picked up support at 15243 and BankNifty picked support at 36765. If the rise continues tomorrow, these levels could be intermediate supports. 
  • The range of the indices as per the options data is like for Nifty 15000-15500 and for bank Nifty it is 35000-38000. A close range of 15300-15400 for Nifty and 36000-37500 for Bank Nifty can be looked at for aggressive trades.
  • While the markets are very strong, a risk of some selling always exists at these levels, so an eye on lower levels would be helpful. Unless one has a strong capacity to manage trades, aggressive trades should be avoided.

1. FII were net buyers for 1144 Cr today, while DII were sellers for 1559 Cr. A net selling of 415 Cr from the institutional side.

2. FII's unwound 5025 longs and created 967 shorts on the indices

3. On the option front FII  sold 34096 calls and   sold 7406 puts. They also bought 40331 calls and  bought 33901 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 15300 followed by 15000 and highest OI for CE is at 15400 followed by 15500. Highest Put writing was seen at 15300 and highest call writing was seen at 15400 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 35000 followed by 36000 and highest OI for CE is at 38000 followed by 37500. Highest Put writing was seen at 35000 and highest call writing was seen at 38000 levels. 

6. All Asian markets closed in green today. Europe closed flat.

7. US markets Nasdaq in green and Dow in red.

8. The breadth of the market was neutral

9. Nifty opened at 15371 and made an intra day high of 15431 and a low of 15242 before closing at 15313 .The range of Nifty for the day was 189 points.

10. Bank Nifty opened at 37492 and made an intra day high of 37708 and a low of 36762 before closing at 37098 .The range of Nifty for the day was 946 points.

11. UD Dollar Index is trading at 90.57

12. Metals, Energy and PSU Banks closed strong. Pharma made small gains with all sectors closing in red.

13. India VIX increased to 21.78


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