5th April'2021 (Evening)

5th April'2021 (Evening)

  • What a day it was. After some good short covering and strong Cues flowing in from US, was expecting markets to be strong today. While expecting a gap up and then maybe some profit booking, actually the profit booking came immediately as the investors were probably spooked by the lock down announcements.
  • I did mention that the spike in daily cases and lock downs could be a spoil sport, they actually did spoil the game today.
  • Since most of the Asian markets were closed, there was nothing to hold on to. The little bit came from Europe after they gave a green indication.
  • Both Nifty and Bank Nifty breached their Thursday lows of 14692 and 33208 and closed below them. 
  • As mentioned earlier, the trend would evolve after the books are closed on 31st and the first weekly expiry after that. So, this could be a short term indication of weakness.
  • While globally the cues are strong and US is at all time highs, our markets may remain under pressure.
  • The FII positioning in cash and FnO is also weak. For any bullish trend to evolve, The same levels as mentioned earlier come in to play. Till these are taken out, they continue to be resistances for our markets.
  • Nifty Key levels to cross - 14750, 14890, 15050. BankNifty 33305, 33949, 34400, 35000.

1. FII were net sellers for 931 Cr today, while DII were buyers for 75 Cr. A net selling of 856 Cr from the institutional side.

2. FII's unwound 6748 longs and created 10693 shorts on the indices

3. On the option front FII  sold 60690 calls and   sold 26770 puts. They also bought 50880 calls and  bought 34607 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 14800. Highest Put writing was seen at 14000 and highest call writing was seen at 14800 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 30000 followed by 31000 and highest OI for CE is at 34000 followed by 35000. Highest Put writing was seen at 30000 and highest call writing was seen at 33000 levels. 

6. Asian markets were mostly closed today, while those trading closed in green. Europe closed in green today.

7. US markets trading strong with Dow up by almost 400 points and Nasdaq up by 200 points.

8. The breadth of the market was extrmemely weak today.

9. Nifty opened at 14837 and made an intra day high of 14849 and a low of 14459 before closing at 14637 .The range of Nifty for the day was 390 points.

10. Bank Nifty opened at 33649 and made an intra day high of 33697 and a low of 32330 before closing at 32678 .The range of Nifty for the day was 1367 points.

11. US Dollar Index is trading at 92.595

12. Almost all indices closed in red today.

13. India VIX increased to 21.22

14. US 10Y yields were held at 1.716

15. Nifty futures saw long unwinding 

16. Bank Nifty also saw a minor long unwinding


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