16th Mar'2021 (Evening)

16th Mar'2021 (Evening)

  • As usual markets are lacking any clear direction. After opening higher and rising a bit, selling started. Rises are not getting sustained, as for some days, buying come in at lower levels.
  • Markets within the range. 
  • Nifty seems to be picking up some support at 15000. The range for Nifty remains 14772-15375.
  • Bank Nifty seems weak in particular. The range seems to be 34431-36497 for the moment.
  • US Bond yields have eased out a bit and Dollar Index seems to be still behaving itself. Market is still waiting for a trigger to move either side. Till then range bound movement continues. 
  • Buying and selling near this range has been working so far. A stop loss slightly outside this range could be maintained.
  • While Nifty seems to be respecting its 20DEMA, Bank Nifty has breached the 20DEMA and is heading towards its 50DEMA. This is a bit below the range i have mentioned above.
  • We have been consistently underperforming compared to US and global markets for the last few days. I feel a bit of catch up has to happen. Lets see if this comes up in this week.
  • The uncertainty prevails and leveraged positions are discouraged. Stock vise cash buying in value areas are good.
  • VIX easing out is a good sign for the markets.

1. FII were net buyers for 1692 Cr today, while DII were sellers for 1168 Cr. A net buying of 524 Cr from the institutional side.

2. FII's created 1389 longs and unwound 829 shorts on the indices

3. On the option front FII  sold 5461 calls and   sold 8726 puts. They also bought 8554 calls and  bought 1154 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 14500 followed by 15000 and highest OI for CE is at 15200 followed by 16000. Highest Put writing was seen at 15000 and highest call writing was seen at 15700 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 36000 followed by 37000. Highest Put writing was seen at 35000 and highest call writing was seen at 35500 levels. 

6. Asian markets closed mostly green.  Europe closed in green

7. US markets trading mixed with Dow 100pt down and Nasdaq 100 pt up.

8. The breadth of the market was weak today.

9. Nifty opened at 14996 and made an intra day high of 15051 and a low of 14890 before closing at 14910 .The range of Nifty for the day was 161 points.

10. Bank Nifty opened at 35352 and made an intra day high of 35405 and a low of 34744 before closing at 34804 .The range of Nifty for the day was 661 points.

11. UD Dollar Index is trading at 91.88

12. Buying was seen in IT and FMCG only..

13. India VIX eased  to 20.19

14. US 10Y yields eased slightly to 1.595

15. Nifty futures saw a long unwinding with OI reduced by 3.8% and index down by 0.06%

16. Bank Nifty saw a short buildup with OI down by 4.7% and index down 1.08%


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