3rd Mar'2021 (Evening)

3rd Mar'2021 (Evening)

  • Indices shot up today. The move was huge. As tweeted in the morning today, the call writers had to run for cover and that led to further up move in the market.
  • Huge put writing was seen at 36000 on Bank Nifty and 15000 on Nifty. These are definitely strong supports for tomorrow closing. 
  • After the indices moved above the Friday's high, it was clear that a strong up move will be seen. Todays close on both Nifty and Bank Nifty has been close to the high points.
  • Seeing the US markets a bit sluggish, specially Nasdaq a bit of spurt in the yields and a drop in Dow Futures from the time our markets were open, we may see a gap down opening. This is indicated by SGX as well as of now.
  • I expect that could be a fresh entry point for people missing todays rally. We may see a fresh swing high in next days from these levels.
  • FII flows were maintained today, also coupled with a change in their stance in futures, where they unwound shorts and created some longs.
  • Reliance has also participated in the rally today, along with the banks. Reliance has given a breakout from its range earlier. A fresh move towards a new high could support the Nifty as well. Lets see.

1. FII were net buyers for 2088 Cr today, while DII were buyers for 392 Cr. A net buying of 2480 Cr from the institutional side.

2. FII's created 3761 longs and unwound 9216 shorts on the indices

3. On the option front FII  sold 26300 calls and   sold 51153 puts. They also bought 42527 calls and  bought 54429 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 15000 followed by 15100 and highest OI for CE is at 15200 followed by 15500. Highest Put writing was seen at 15000 and highest call writing was seen at 15300 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 35500 followed by 36000 and highest OI for CE is at 37000 followed by 36500. Highest Put writing was seen at 36000 and highest call writing was seen at 36800 levels. 

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

7. US markets Dow is marginally in green and Nasdaq is in red.

8. The breadth of the market was strong today.

9. Nifty opened at 15064 and made an intra day high of 15273 and a low of 14995 before closing at 15245 .The range of Nifty for the day was 278 points.

10. Bank Nifty opened at 35754 and made an intra day high of 36455 and a low of 35570 before closing at 36368 .The range of Nifty for the day was 885 points.

11. UD Dollar Index is trading at 90.91

12. Except Auto Almost all sectors moved today with Banking leading the pack.

13. India VIX dropped to 22.09

14. US 10Y yields are at 1.48


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