19th Feb'2021 (Evening)

19th Feb'2021 (Evening)

  • Friday saw a follow up of weakness in the markets. Both the indices Nifty and Bank Nifty closed in red for the fourth consecutive day.
  • Though the markets covered by the end of the day, they breached important supports intraday. Nifty support of 14977 and Bank Nifty support at 36000 were breached. I mentioned these as important support for the past couple of days. While Nifty recovered and closed above 14977, bank Nifty took support at the next lower support of 35500 (35428 to be precise)  and closed at 35841.
  • FII did not buy much on Friday and DII sold as usual. This led to the correction. FII buying was just 118Cr and has been shrinking for some time. Lets see on Monday.
  • Options data is showing a wide range of 14000 to 16000 for February. The options writing suggests a close range of 14700 to 15300 on Nifty.
  • Bank Nifty options indicate a wide range of 35000 to 37000. The writing indicates a close range of 35500 to 36000. 
  • Being the monthly expiry, we may see volatile moves on either side.
  • The US bond yields are on a rise, Friday closed at 1.34 a sharp increase from Fridays low of 1.15. This may cause some flight of capital, Maybe short term. Fingers closed for Monday.
  • Friday did not see much action from FII though. Not much done in futures and neither in Cash. This could be a good sign though.

1. FII were net buyers for 118 Cr today, while DII were sellers for 1174 Cr. A net selling of 1056 Cr from the institutional side.

2. FII's created 264 longs and created 17 shorts on the indices

3. On the option front FII  sold 35764 calls and   unwound 29775 puts. They also bought 47669 calls and  bought 53111 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 14800 and highest call writing was seen at 15200 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 35000 followed by 34000 and highest OI for CE is at 37000 followed by 38000. Highest Put writing was seen at 35500 and highest call writing was seen at 36000 levels. 

6. Asian markets closed mixed and European markets closed in green

7. US markets closed flat

8. The breadth of the market was negative

9. Nifty opened at 15074 and made an intra day high of 15144 and a low of 14898 before closing at 14981 .The range of Nifty for the day was 246 points.

10. Bank Nifty opened at 36371 and made an intra day high of 36656 and a low of 35584 before closing at 35841 .The range of Nifty for the day was 1072 points.

11. UD Dollar Index is trading at 90.34

12. Almost all sectors closed in red, with PSUBanking, Auto and banking led the fall.

13. India VIX increased to 22.25

14. US 10Y yields closed higher at 1.340



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