5th Feb'2021 (Evening)

5th Feb'2021 (Evening)

  • Both Nifty and Bank Nifty opened on a strong note and continued to climb up. Nifty touched 1500 and then profit booking started. Bank Nifty was at one point of time, 1000 point in green. Profit booking was heavy as expected and closed after minor gains at lower levels.
  • Nifty closed forming a Doji candle and Bank Nifty created a candle with a short body and a large upper whack. This indicates a bit of weakness as of now.
  • DII brought in closeto 1500 Cr and an equal amount was sold by the DII. FII also unwound some longs and created some shorts. FII have been changing their position on the futures for a couple of days now. So some profit booking was expected. Some happened on Friday. Lets see if some more comes on Monday.
  • The range of market has widened substantially. VIX has risen again. So it is getting a bit difficult to gauge the movement. Nifty is indicating a movement from 14000 to 16000 and Bank Nifty is indicating a range of 34000 to 38000. Expecting some wild movements from here. We are currently in the mid of this range.
  • The breadth of the market was negative, so my sense is that some more correction can come in. Lets see. 

1. FII were net Buyers for 1461 Cr today, while DII were sellers for 1418 Cr. A net Buying of 43 Cr from the institutional side.

2. FII's Unwound 3406 longs and Created 1338 shorts on the indices

3. On the option front FII  sold 23995 calls and   sold 36209 puts. They also bought 44913 calls and  bought 40934 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 14000 followed by 13000 and highest OI for CE is at 16000 followed by 15500. Highest Put writing was seen at 14900 and highest call writing was seen at 16000 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 34000 followed by 35000 and highest OI for CE is at 38300 followed by 38000. Highest Put writing was seen at 32500 and highest call writing was seen at 37000 levels. 

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

7. US markets closed in greeen

8. The breadth of the market was weak

9. Nifty opened at 14952 and made an intra day high of 15014 and a low of 14864 before closing at 14924 .The range of Nifty for the day was 150 points.

10. Bank Nifty opened at 35634 and made an intra day high of 36612 and a low of 35546 before closing at 35756 .The range of Nifty for the day was 1066 points.

11. UD Dollar Index is trading at 91

12. PSU and pharma were the stares of the day

13. India VIX increased to 23.42


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