9th Apr'2021 (Evening)

9th Apr'2021 (Evening)

  • FII and DII both sold on Friday. A combined selling of 924 Cr from them.
  • FII position in F&O is bearish.
  • Covid cases continue to rise in India with more than 1.5 lac cases per day. Maharashtra reporting the highest number of cases contributing to almost 50% of daily cases in India.
  • There are news reports that Maharashtra government is contemplating a complete lockdown for 15 days and that is not good news.
  • While Dollar Index has eased out and US yields have been stable, also the US markets have been making new highs over past days, the local cues have been extremely negative and has kept the markets capped.
  • Bank Nifty continues to be the weaker Index and has been a reason for Nifty being capped inspite of IT, Pharma and Metals making good moves.
  • Earnings would start flowing in the coming week and would give a pulse of Q4.
  • Rupee has fallen substantially over the last few days, maybe a good news for IT, but a poor indicator for FII capital.
  • Nifty seems to be playing in a range of 14500 to 15000 and Bank Nifty playing 32350 to 32800
  • Bank Nifty has now tested 32500 far too many time and has been making lower highs every time. Fear that that the important support of 32500 may now get breached and the next important support then comes in at 31500.
  • With HDFC Bank results coming up in next week, we may have to wait for a move in it. The other Banks would then follow the move. As of now it seems to be bearish.

1. FII were net sellers for 653 Cr today, while DII were sellers for 271 Cr. A net selling of 924 Cr from the institutional side.

2. FII's created 990 longs and created 6566 shorts on the indices

3. On the option front FII  sold 37526 calls and   sold 18616 puts. They also bought 38862 calls and  bought 34040 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 13500 followed by 14500 and highest OI for CE is at 15500 followed by 15000. 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 32500 followed by 30000 and highest OI for CE is at 33000 followed by 34000. Highest Put writing was seen at 32500 and highest call writing was seen at 32500 levels. 

6. Asian markets closed mixed and Europe closed also mixed

7. US markets closed strong.

8. The breadth of the market was slightly weak.

9. Nifty opened at 14882 and made an intra day high of 14918 and a low of 14785 before closing at 14834 .The range of Nifty for the day was 133 points.

10. Bank Nifty opened at 32636 and made an intra day high of 32972 and a low of 32329 before closing at 32448 .The range of Nifty for the day was 643 points.

11. US Dollar Index is trading at 92.180

12. Pharma, IT and FMCG saw some gains, else all sectors lost.

13. India VIX reduced to 19.79

14. US 10Y yields were held at 1.662

15. Nifty futures saw a short buildup

16. Bank Nifty saw a short buildup


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