9th Feb'2021 (Evening)

9th Feb'2021 (Evening)

  • Uncertainty prevailed in the markets today. After opening gap up, Nifty was stronger than BankNifty. Though later BN caught up and also made a big intraday move, finally both indices saw some selling and closed small bearish candles. 
  • While Nifty closed marginally in red, BankNifty closed marginally in green.
  • VIX increased further to 24.27. Market breadth is weak, uncertainty on price movements are some symptoms of the rally losing momentum. We may see some consolidation here. Though a breach of 15000 may intensify the selling.
  • As mentioned earlier also, Bank Nifty for the last two days, has been trading within the trading range of Fridays candle. A breach of this candle on either side, would decide the direction of movement. BN has been seeing selling at 36500 and support at 35600.
  • I think Nifty has support at 15041 and BankNifty has some support at 35545. Be careful if we see these levels breached. On the higher side 15256 and 36615 are the critical levels on the higher side. Clear movements will emerge once we see a daily close out side this range.

1. FII were net Buyers for 1300 Cr today, while DII were sellers for 1756 Cr. A net selling of 456 Cr from the institutional side.

2. FII's created 1225 longs and unwound 2252 shorts on the indices

3. On the option front FII  sold 18096 calls and   sold 13502 puts. They also bought 20571 calls and  bought 6098 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 15000 followed by 14000 and highest OI for CE is at 15500 followed by 15200. Highest Put writing was seen at 15200 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 36500. Highest Put writing was seen at 36000 and highest call writing was seen at 36400 levels. 

6. Most of the Asian and European markets closed in green. 

7. US markets trading flat as of now.

8. The breadth of the market was weak today.

9. Nifty opened at 15164 and made an intra day high of 15257 and a low of 15064 before closing at 15109 .The range of Nifty for the day was 193 points.

10. Bank Nifty opened at 36058 and made an intra day high of 36477 and a low of 35636 before closing at 36056 .The range of Nifty for the day was 841 points.

11. UD Dollar Index is trading at 90.55

12. Except for BankNifty and Energy, all sectors closed in red today.

13. India VIX increased to 24.27

 

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