2nd Feb'2021 (Evening)

2nd Feb'2021 (Evening)

  • After a stellar performance yesterday, markets continued their move after a gap up opening. Halting at 14731 and saw some profit booking, pulling Nifty down to 14469, buying pushed the index up again to close at 14647.
  • Index faced stiff resistance at the day's high today. Though, it also did not budge to fall. Throughout the day, The first hour candle was not breached on either side. So now a move above 14731 or below 14469 would decide the short term direction from here.
  • Dollar Index has risen above 91 after a long time, and is seeing a higher high and a higher low. Next level could be 92 for this. A move above 92 has to be watched. 
  • Aggressive put writing was seen at 14500 levels and call writing at 14700 levels. I feel these are critical levels for the current week. 
  • Seeing FII back in cash market was a pleasant sight, with a healthy cash buying of 6000 Cr. Thought they have created some hedges via the futures. Market top from here seems to be capped. 
  • Since volatility is high and market top seems to be capped, sold a straddle of Bank Nifty 34000 today. Got a combined premium of 2000Rs. Will manage as we go.

 1. FII were net Buyers for 6181 Cr today, while DII were sellers for 2035 Cr. A net Buying of 4146 Cr from the institutional side.

2. FII's Unwound 5964 longs and Created 2845 shorts on the indices

3. On the option front FII  sold 4487 calls and   sold 21072 puts. They also bought 19090 calls and  bought 39292 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 13500 followed by 14000 and highest OI for CE is at 15000 followed by 16000. Highest Put writing was seen at 14500 and highest call writing was seen at 14700 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 32000 followed by 30000 and highest OI for CE is at 35000 followed by 34000. Highest Put writing was seen at 33000 and highest call writing was seen at 35000 levels. 

6. Asian and European markets closed in green today. 

7. US markets trading strongly in green as of now.

8. The breadth of the market was strong.

9. Nifty opened at 14481 and made an intra day high of 14731 and a low of 14469 before closing at 14647 .The range of Nifty for the day was 262 points.

10. Bank Nifty opened at 33589 and made an intra day high of 34652 and a low of 33583 before closing at 34267 .The range of Nifty for the day was 1069 points.

11. UD Dollar Index is trading at 91.22

12. Except a few individual stocks, almost all sectors moved.

13. India VIX increased marginally to 23.35


Comments

Post a Comment

Popular posts from this blog

4th November' 2022 (Evening)

Image
4th November' 2022 (Evening)   --  | Written at 8.00 PM on 6th November' 2022  | Publishing the notes after a gap today. So first sorry for that. Having a full time day job, brings its own set of challenges and sometimes, the work pressure makes it extremely difficult to squeeze time to analyze and publish the analysis. I mentioned in the previous notes that a major resistance at 17900 will be breached and advised to watch the price action. The indices pleasantly obliged and have been holding strong at these levels. On Friday also, #Nifty made a strong bullish candle on the daily chart. It has also ended the weekly candle strong on a bullish note. #BankNifty is showing some exhaustion and is witnessing a brutal tug off war between bulls and bears. We will discuss all this, but before that, levels... From the levels above, 18200 seems to be a resistance level for #Nifty and 41550 the resistance for #BankNifty. However, if we compare the range of first support to first...
Read more

28th October' 2022 (Evening)

Image
28th October' 2022 (Evening)   --   |  Written at 9.30 PM on 30th October' 2022   | The last month closed on a high note. Starting weak, the month of October saw decent gains and closed almost at month highs. Market was still strong and on the first day of the current series also, the indices were relatively strong.  #Nifty made 4 consecutive bullish candles on the daily chart. #BankNifty made a bearish candle after 3 bullish candles, however still made a higher high and a higher low. Levels : Both #Nifty and #BankNifty are in a range of 17650 to 17900 and 39825 to 41550 respectively. In this range #BankNifty saw some profit booking on Friday, while #Nifty is yet to test the upper level. I expected #Nifty to test 17900 on Friday, however this did not happen. This may probably get breached in the opening tomorrow. Important to see is that will this trigger a profit booking and a rejection of the level or will the level hold. On Friday, the first tr...
Read more

25th October' 2022 (Evening)

25th October' 2022 (Evening)   --   |  Written at 11.00 PM on 26th October' 2022  | 1. FII were net selling for 247 Cr today, while DII were buyers for 872 Cr. A net buying of 625 Cr from the institutional side. 2. FII's created 1390 longs and unwound 17862 shorts on the index futures 3. On the option front FII  unwound 7656 short calls and   unwound 28440 short puts. They also closed 34543 long calls and  closed 96232 long Puts. 4. For next week expiry, Nifty has the highest OI for PE at 17500 followed by 17600 and highest OI for CE is at 18000 followed by 17800. Highest Put writing was seen at 17700 and highest call writing was seen at 17800 levels. 5. For the next week expiry, Bank Nifty has the highest OI for PE at 40000 followed by 40500 and highest OI for CE is at 42000 followed by 41500. Highest Put writing was seen at 41100 and highest call writing was seen at 41500 levels.  6. Asian markets closed mostly in green today and ...
Read more