31st Mar'2021 (Evening)

31st Mar'2021 (Evening)

  • Markets today opened under pressure and then could never recover. As mentioned yesterday, Bank Nifty is the weaker index and also lost more today.
  • Profit booking after yesterday's stellar move and also weak global cues due to some anxiety over President Bidens speech today kept the pressure on.
  • Concern however is that there was again some big selling in Cash by FII, coupled with extremely bearish stance in the F&O space. In fact their position in Index futures is completely reverse from Friday.
  • Markets are actually giving no sense of direction. I feel only positional adjustments and Index management is going on. Need to wait for a direction to emerge. Indices however are weak and real strength will only come after the levels mentioned earlier.
  • Dollar Index and Yields made some steep climbs and also led to the anxiety in the markets. Today some cooling off is seen. US markets are also trading in green ahead of Presidents speech. Lets see if this sentiment is maintained till morning.
  • Tomorrow's expiry could be tricky, be safe. 
  • I feel from tomorrow, the earning season starts, Financial year is closed and positions carried over from FY2021 will be closed tomorrow. So we should actually see a trend emerging after tomorrow's close.
  • As mentioned earlier, watch for critical levels (mentioned earlier).

(The data today has been relative to Friday 26th March as the NSE data yesterday was not complete.)

1. FII were net sellers for 1685 Cr today, while DII were buyers for 2081 Cr. A net buying of 396 Cr from the institutional side.

2. FII's unwound 5887 longs and created 16560 shorts on the indices

3. On the option front FII  sold 88924 calls and   sold 31031 puts. They also bought 79491 calls and  bought 66498 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 15000 followed by 15100. Highest Put writing was seen at 14350 and highest call writing was seen at 15000 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 33000 followed by 32000 and highest OI for CE is at 34000 followed by 33500. Highest Put writing was seen at 33000 and highest call writing was seen at 33500 levels. 

6. Asian markets closed mostly in red and europe also closed mostly in red

7. US markets trading in green

8. The breadth of the market was neutral today

9. Nifty opened at 14811 and made an intra day high of 14813 and a low of 14670 before closing at 14690 .The range of Nifty for the day was 143 points.

10. Bank Nifty opened at 33764 and made an intra day high of 33773 and a low of 33151 before closing at 33303 .The range of Nifty for the day was 622 points.

11. UD Dollar Index is trading at 93.088

12. Important indices of IT, Banking and Energy closed in red today.

13. India VIX increased to 20.65

14. US 10Y yields increased to 1.714

15. Nifty futures saw long build up with OI increasing and Index also rising

16. Bank Nifty also saw a long build up.


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