10th Mar'2021 (Evening)

10th Mar'2021 (Evening)

  • The weekly expiry was more or less peaceful. No volatile movements. While the Indices opened strong, they lost gradually, made a low and then recovered approx half the loss. The closing was in red.
  • Bond yields have been getting rejected at 1.6 and are now kind of stabilizing at 1.5 levels. Dollar Index has come down. This could help us.
  • From the time our markets closed on Wednesday, global markets have rallied, leaving us a bit behind. I expect approx 2% gap up tomorrow morning. So the larger decision to be taken now is, if the market opens gap up, should we chase them. We need to confirm if the gap up sustains. Normally these gap ups get sold off and we get an opportunity to enter.
  • Bank Nifty made some attempts to breach 36000 on Wednesday and the last hour movement on Wednesday gave a slight indication of this. So the aggressive weekly put sold, will pay tomorrow.
  • Both Nifty and bank Nifty have been making higher highs and higher lows for the last 3 days. Nifty tomorrow, will probably open above the 15273 mark and that confirms the breakout that I was talking in the previous days.
  • Bank Nifty may not open above the 36368 mark I was talking about. Though, eventually it will also. 
  • Nifty options show a wide range, though i feel we should now see a strong support at 15000 and BankNifty should now see support at 36000.

1. FII were net sellers for 15 Cr today, while DII were buyers for 447 Cr. A net buying of 432 Cr from the institutional side.

2. FII's unwound 1478 longs and unwound 2097 shorts on the indices

3. On the option front FII  sold 83863 calls and   sold 34287 puts. They also bought -84048 calls and  bought 49698 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 15200 followed by 16000. Highest Put writing was seen at 14000 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 36000 and highest OI for CE is at 36000 followed by 37000. Highest Put writing was seen at 36000 and highest call writing was seen at 36000 levels. 

6. Asian markets closed mixed on 10th and closed green on 11th March. Europe closed mostly in green on both days.

7. US markets are trading strong. Dow is terading 800 point up from where we closed yesterday. Nasdaq was red yesterday and is trading stron gtoday.

8. The breadth of the market was strong today.

9. Nifty opened at 15202 and made an intra day high of 15218 and a low of 15100 before closing at 15174 .The range of Nifty for the day was 118 points.

10. Bank Nifty opened at 36112 and made an intra day high of 36176 and a low of 35764 before closing at 35938 .The range of Nifty for the day was 412 points.

11. UD Dollar Index is trading at 91.552

12. Almost all sectors closed in green

13. India VIX eased to 20.75

14. US 10Y yields are at 1.54

15. Nifty futures saw a short covering. OI down by 1.75% and index up by 0.5%

16. Bank Nifty saw a long buildp. OI up 0.03% and index up by 0.2%


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