8th Feb'2021 (Evening)

8th Feb'2021 (Evening)

  • My sense of expecting some more correction went wrong today (atleast on Nifty). 
  • Markets opened gap up today, while Nifty maintained its strength, BankNifty saw some profit booking after hitting a high of 36466. While Nifty made a strong bullish candle after opening gap up, Bank Nifty made a bearish candle and made an inside candle compared to Friday. 
  • While the range of Nifty was maintained, Bank Nifty range was constrained today. As mentioned earlier, Nifty opened gates for 15200 and was close to hitting it today. A followup strength tomorrow may help hit the same.
  • Bank Nifty saw selling at the day high and closed near its day low. It hasn't broken Fridays low, so need to watch a breakout below Fridays low of  35545 or Fridays high of 36615. 
  • FII continued to put in money today. They also created some small longs and unwound some shorts on the index futures. Some hedging was seen on the put side. They bought 23000 puts.
  • Nifty range seems to be from 14500 to 15500 and BankNifty from 34000 to 37000.
  • VIX touched an intraday high of 24.35. 

1. FII were net Buyers for 1876 Cr today, while DII were sellers for 504 Cr. A net Buying of 1372 Cr from the institutional side.

2. FII's created 171 longs and unwound 4843 shorts on the indices

3. On the option front FII  sold 21536 calls and   sold 32663 puts. They also bought 1557 calls and  bought 22984 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 14000 followed by 14500 and highest OI for CE is at 15500 followed by 16000. Highest Put writing was seen at 15100 and highest call writing was seen at 15100 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 34000 followed by 34500 and highest OI for CE is at 37000 followed by 38000. Highest Put writing was seen at 33500 and highest call writing was seen at 36500 levels. 

6. Asian markets closed in green today and European markets closed green as well.

7. US markets trading in green

8. The breadth of the market was good

9. Nifty opened at 15064 and made an intra day high of 15159 and a low of 15041 before closing at 15115 .The range of Nifty for the day was 118 points.

10. Bank Nifty opened at 36073 and made an intra day high of 36466 and a low of 35872 before closing at 35983 .The range of Nifty for the day was 594 points.

11. UD Dollar Index is trading at 91.04

12. Metals and Auto were the attraction today. PSU banks showed some minor correction.

13. After touching a high of 24.35, India VIX increased to 23.96


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