19th Mar'2021 (Evening)

19th Mar'2021 (Evening)

  • Finally after a loss for 5 days, indices saw a recovery on Friday. The indices closed with a gain of a percent. I was expecting some recovery, though it came a bit late and on the last day of the week. 
  • We may not be completely out of woods though. Good part was that the 50 DEMA was respected by both Nifty and Bank Nifty and the indices crossed above that. It has to now, cross critical barriers of 14850 and 14950 to gain support for a further rise.
  • The lows made on Friday, could be bottoms for immediate short term.
  • The global markets on Friday were weak and closed in red. 
  • Yields again swelled to 1.73 and Dollar Index is at 91.958 and is again approaching 92. Lets see how does it behave from here.
  • On the options front the range has widened on both Nifty and Bank Nifty, indicating a possibility of further recovery. The wide range is also factoring a fall, though i feel the drop may not be substantial, at least in short term. VIX also support this view.
  • Nifty range could be 14500-15500 and Bank Nifty range could be 33000-37000.
  • Being the last week of the month, expect some volatility to play out.
  • I picked up ICICIBank, HDFCLife and LT in cash on Friday.

1. FII were net buyers for 1418 Cr today, while DII were buyers for 559 Cr. A net buying of 1977 Cr from the institutional side.

2. FII's created 1833 longs and unwound 10547 shorts on the indices

3. On the option front FII  sold 32568 calls and   sold 46343 puts. They also bought 43857 calls and  bought 44037 Puts.

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

5. For the next week expiry, Bank Nifty has the highest OI for PE at 33000 followed by 34000 and highest OI for CE is at 36000 followed by 37000. Highest Put writing was seen at 33000 and highest call writing was seen at 37000 levels. 

6. Asian markets closed in red and Europe also closed in red. 

7. US markets closed mixed. Dow in red and Nasdaq in green. 

8. The breadth of the market was strong today.

9. Nifty opened at 14471 and made an intra day high of 14788 and a low of 14350 before closing at 14744 .The range of Nifty for the day was 438 points.

10. Bank Nifty opened at 33590 and made an intra day high of 34355 and a low of 33361 before closing at 34161 .The range of Nifty for the day was 994 points.

11. UD Dollar Index is trading at 91.958

12. Except realty, all sectors closed in green today.

13. India VIX eased  to 19.99

14. US 10Y yields rised to 1.73

15. Nifty futures saw a short covering with OI reduced by 2% and index increased by 1.23%

16. Bank Nifty saw a short covering with OI down by 0.98% and index up by 0.94%


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