1st April'2021 (Evening)

1st April'2021 (Evening)

  • Markets saw a positive sentiment on Thursday. Markets opened strong and maintained the strength through out the day, forcing short covering.
  • Both the indices saw short covering, while the short covering on Bank Nifty was much more aggressive, with OI down by 26%.
  • FII brought in some cash, though very minimal.
  • Some shorts were covered by FII in futures. The option data is not so relevant as it was an expiry day.
  • Based on the stimulus announcements from President Biden, US closed extremely strong on Thursday. Dow rose 0.5% and Nasdaq rose 1.7%.
  • Asian markets were trading strong on Friday and most of these will be closed tomorrow on Easter.
  • I feel we should see a strong open tomorrow, maybe around 100pts gap up. If this is sustained, it could further trigger a short covering up to 15150.
  • Bank Nifty would also see a strong opening and a sustenance could help breach the previous resistance of 34400 and help support a move towards 35000 level.
  • I feel Bank Nifty may be an out performer tomorrow. Lets see.

1. FII were net buyers for 149 Cr today, while DII were sellers for 296 Cr. A net selling of 147 Cr from the institutional side.

2. FII's unwound 214 longs and unwound 4751 shorts on the indices

3. On the option front FII  sold 111872 calls and   sold 62029 puts. They also bought -101252 calls and  bought 84896 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 14700 followed by 14000 and highest OI for CE is at 16000 followed by 15000. Highest Put writing was seen at 14700 and highest call writing was seen at 16000 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 33500 followed by 33000 and highest OI for CE is at 34000 followed by 35000. Highest Put writing was seen at 33500 and highest call writing was seen at 34500 levels. 

6. Asian markets closed mostly in green and Europe also closed in green. Europe was closed on Friday.

7. US markets closed strong on Thursday as Friday was closed.

8. The breadth of the market was strong

9. Nifty opened at 14798 and made an intra day high of 14883 and a low of 14692 before closing at 14867 .The range of Nifty for the day was 191 points.

10. Bank Nifty opened at 33588 and made an intra day high of 33949 and a low of 33208 before closing at 33858 .The range of Nifty for the day was 741 points.

11. UD Dollar Index is trading at 93.040

12. Almost all indices closed in green on Thursday.

13. India VIX increased to 20.65

14. US 10Y yields were held at 1.714

15. Nifty futures saw short covering with OI reducing by 6.6% and Index going up by 1.3%

16. Bank Nifty also saw a short covering by OI reducing 26.7% and Index going up by 2%


Comments

Post a Comment

Popular posts from this blog

4th November' 2022 (Evening)

Image
4th November' 2022 (Evening)   --  | Written at 8.00 PM on 6th November' 2022  | Publishing the notes after a gap today. So first sorry for that. Having a full time day job, brings its own set of challenges and sometimes, the work pressure makes it extremely difficult to squeeze time to analyze and publish the analysis. I mentioned in the previous notes that a major resistance at 17900 will be breached and advised to watch the price action. The indices pleasantly obliged and have been holding strong at these levels. On Friday also, #Nifty made a strong bullish candle on the daily chart. It has also ended the weekly candle strong on a bullish note. #BankNifty is showing some exhaustion and is witnessing a brutal tug off war between bulls and bears. We will discuss all this, but before that, levels... From the levels above, 18200 seems to be a resistance level for #Nifty and 41550 the resistance for #BankNifty. However, if we compare the range of first support to first...
Read more

28th October' 2022 (Evening)

Image
28th October' 2022 (Evening)   --   |  Written at 9.30 PM on 30th October' 2022   | The last month closed on a high note. Starting weak, the month of October saw decent gains and closed almost at month highs. Market was still strong and on the first day of the current series also, the indices were relatively strong.  #Nifty made 4 consecutive bullish candles on the daily chart. #BankNifty made a bearish candle after 3 bullish candles, however still made a higher high and a higher low. Levels : Both #Nifty and #BankNifty are in a range of 17650 to 17900 and 39825 to 41550 respectively. In this range #BankNifty saw some profit booking on Friday, while #Nifty is yet to test the upper level. I expected #Nifty to test 17900 on Friday, however this did not happen. This may probably get breached in the opening tomorrow. Important to see is that will this trigger a profit booking and a rejection of the level or will the level hold. On Friday, the first tr...
Read more

25th October' 2022 (Evening)

25th October' 2022 (Evening)   --   |  Written at 11.00 PM on 26th October' 2022  | 1. FII were net selling for 247 Cr today, while DII were buyers for 872 Cr. A net buying of 625 Cr from the institutional side. 2. FII's created 1390 longs and unwound 17862 shorts on the index futures 3. On the option front FII  unwound 7656 short calls and   unwound 28440 short puts. They also closed 34543 long calls and  closed 96232 long Puts. 4. For next week expiry, Nifty has the highest OI for PE at 17500 followed by 17600 and highest OI for CE is at 18000 followed by 17800. Highest Put writing was seen at 17700 and highest call writing was seen at 17800 levels. 5. For the next week expiry, Bank Nifty has the highest OI for PE at 40000 followed by 40500 and highest OI for CE is at 42000 followed by 41500. Highest Put writing was seen at 41100 and highest call writing was seen at 41500 levels.  6. Asian markets closed mostly in green today and ...
Read more