2nd Mar'2021 (Evening)

2nd Mar'2021 (Evening)

  • Markets as expected were highly volatile. Nifty moved 200 points and Bank Nifty moved 750 points through the day. Though VIX has cooled off now, so that's a good sign.
  • FII buying in cash market returned so again a good sign. Though they shorted index in huge quantity and also unwound some of their longs on Index. The FII long short ratio has now come down to 59:41. Low in some time.
  • Nifty went down and made a low of 14760. Heavy put writing was also seen at 14800. On the call side 15000 call saw a good amount of writing. So this could be the range for this week.
  • Today BankNifty plunged and took support at 35000 (low for the day). Again rose 400 points to close at 35419.
  • On BankNifty, Huge OI was added at 35000 put and 36000 Call. So this seems to be kind of range for this week.
  • FII have bought in cash and hedged in futures, they also have written more puts than calls, but have also bought more puts than calls. While i expect the market to be in the range above, some wild movements can be expected. Volatility may remain in the markets.
  • Watch for friday's high of 14919. This was taken out on Nifty today. 
  • BankNifty Friday high of 35902, still not taken out and Bank Nifty is still trading in that range. Lets see.

1. FII were net buyers for 2052 Cr today, while DII were sellers for 854 Cr. A net selling of 1198 Cr from the institutional side.

2. FII's unwound 5933 longs and created 12011 shorts on the indices

3. On the option front FII  sold 1343 calls and   sold 24865 puts. They also bought 1704 calls and  bought 9149 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 14800 followed by 14500 and highest OI for CE is at 15000 followed by 15200. Highest Put writing was seen at 14800 and highest call writing was seen at 15000 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 36000 followed by 35500. Highest Put writing was seen at 35000 and highest call writing was seen at 36000 levels. 

6. Asian markets closed mixed and European markets closed in green today

7. US markets are trading choppy today, lets see where they close.

8. The breadth of the market was strong today.

9. Nifty opened at 14865 and made an intra day high of 14959 and a low of 14760 before closing at 14919 .The range of Nifty for the day was 199 points.

10. Bank Nifty opened at 35458 and made an intra day high of 35747 and a low of 35002 before closing at 35419 .The range of Nifty for the day was 745 points.

11. UD Dollar Index is trading at 90.81

12. Almost all sectors moved today with auto and IT leading the pack.

13. India VIX dropped to 23.61

14. US 10Y yields are at 1.41


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