1st Feb' 2021 (Evening)

1st Feb' 2021 (Evening)

  • What a day it was. The day started on a positive note, correct slightly and then never looked back. Nifty moved 650 points and Bank Nifty 2500 points. A record move on a budget day.
  • As mentioned yesterday, Bank Nifty outperformed Nifty and became a star of the day. A solid 8% move in a single day.
  • Banking, financials, Realty, Auto, Metals were the leaders amongst almost the entire market.
  • Investors celebrated the announcements made, especially a 35% increase in capital expenditure. In financials, privatization proposal of two public sector banks in addition to IDBI Bank and one general insurance company and hiking foreign holding limit in insurance sector from 49% to 74% are big positives.
  • FII changed their stand in FnO. Created 12k longs and unwound 15k shorts. Shorted 2 puts for every call. 
  • Options OI is a bit scattered though, probably due to a huge intraday move. So the options data needs time to stabilize. The cash market though did not immediately see the return of capital that fled from the market, so some risk aversion still stays.
  • Follow up action needs to be watched tomorrow. I suspect, that a bit of consolidation and profit booking after todays move can be expected in the next days.

1. FII were net sellers for 1494 Cr today, while DII were sellers for 90 Cr. A net selling of 1404 Cr from the institutional side.

2. FII's created 11597 longs and unwound 14940 shorts on the indices

3. On the option front FII  sold 44910 calls and   sold 86823 puts. They also bought 30936 calls and  bought 75578 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 13000 followed by 13500 and highest OI for CE is at 15000 followed by 16000. Highest Put writing was seen at 14200 and highest call writing was seen at 15000 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 30000 followed by 29500 and highest OI for CE is at 34000 followed by 33000. Highest Put writing was seen at 30000 and highest call writing was seen at 33000 levels. 

6. Asian and European markets closed in green today. 

7. US markets trading in green as of now.

8. The breadth of the market was extremely strong.

9. Nifty opened at 13758 and made an intra day high of 14336 and a low of 13661 before closing at 14281 .The range of Nifty for the day was 675 points.

10. Bank Nifty opened at 30976 and made an intra day high of 33305 and a low of 30906 before closing at 33089 .The range of Nifty for the day was 2399 points.

11. UD Dollar Index is trading at 90.89

12. Except a few stocks, everything closed strong today.

13. India VIX eased to 23.32


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