6th Apr'2021 (Evening)

6th Apr'2021 (Evening)

  • Inspite of strong cues emanating from US, Asia was mixed since morning. Covid cases weighed heavy on the Indian markets. 
  • A ping pong kind of game is on with FII selling on rise and DII supporting on fall. 
  • On the daily chart an inside bar was created by Nifty and the markets seems to be range bound with 14460 on the lower side and 14883 on the higher side.
  • Bank Nifty seems to be weak and seems to be operating in a range of 32350 and 33000 at the moment. It is at a critical level. Further weakness could push it down towards, 32500 and then 32000 levels, while sustenance at the current level may trigger a short covering to 33000 levels.
  • Dollar index and yields have eased but the lockdown and earnings watch have kept the markets on a bit of stove, will have to wait for the steam to build.
  • The RBI MPC review outcome tomorrow may give a bit of direction to the markets. 
  • The Option OI indicates a range of 14300 and 15000 levels on Nifty and 32500 and 33000 on Bank Nifty.
  • Expect Nifty fut to trade between 14360 to 14880 and Bank Nifty fut between 32480 to 33020.

1. FII were net sellers for 1092 Cr today, while DII were buyers for 416 Cr. A net selling of 676 Cr from the institutional side.

2. FII's created 33 longs and unwound 2840 shorts on the indices

3. On the option front FII  sold 22463 calls and   sold 24695 puts. They also bought 38976 calls and  bought 32097 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 14300 and highest call writing was seen at 15000 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 30000 followed by 32500 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 33000 levels. 

6. Asian markets closed mixed and Europe closed mostly in green. 

7. US markets trading flat but mixed.

8. The breadth of the market was positive today.

9. Nifty opened at 14737 and made an intra day high of 14779 and a low of 14573 before closing at 14683 .The range of Nifty for the day was 206 points.

10. Bank Nifty opened at 32915 and made an intra day high of 33007 and a low of 32338 before closing at 32501 .The range of Nifty for the day was 669 points.

11. US Dollar Index is trading at 92.405

12. Except financial stocks and media, most of the stocks closed in green today.

13. India VIX reduced to 20.83

14. US 10Y yields were held at 1.663

15. Nifty futures saw a bit of short covering

16. Bank Nifty saw a bit of long unwinding




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