24th May' 2021 (Evening)

24th May' 2021 (Evening)

  • After a stellar rise on Friday, indices made some decent gains today as well. Nifty gaining 22 points and BankNifty  made 336 points. It is important though that both the indices made bearish candles on the first day of the last week in May.
  • While the indices opened strong and rose initially, they had stiff resistance at 15250 for Nifty and 35200 for BankNifty. 
  • As mentioned yesterday, this range is a critical resistance and may not be easy to take off. Both the indices were rejected from these levels.
  • Markets may make another attempt tomorrow to breach these levels.
  • The FnO positioning of FII are bearish and also DII and FII are not in sync in cash market.
  • Nifty saw some shorts building up around 15300 levels and these may get stronger tomorrow if Nifty fails to take off 15300 levels tomorrow.
  • BankNifty though hasn't seen a buildup of short as yet. So it may prove to be stronger than Nifty from these levels. However, a failure to take off 35200 tomorrow may trigger some unwinding and a short buildup.
  • Tomorrow could be an interesting day. If the markets open gap up, some profit booking cannot be ruled out.

1. FII were net buyers for 585 Cr today, while DII were sellers for 707 Cr. A net selling of 122 Cr from the institutional side.

2. FII's unwound 4008 longs and unwound 370 shorts on the indices

3. On the option front FII  sold 10942 calls and   unwound 1964 puts. They also bought 586 calls and  bought 3836 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 15000 followed by 14000 and highest OI for CE is at 15500 followed by 15300. Highest Put writing was seen at 14500 and highest call writing was seen at 15300 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 34000 followed by 33000 and highest OI for CE is at 37000 followed by 36000. Highest Put writing was seen at 35000 and highest call writing was seen at 37000 levels. 

6. Asian markets closed mixed and european markets closed in green

7. US markets trading strong

8. The breadth of the market was strong today.

9. Nifty opened at 15211 and made an intra day high of 15256 and a low of 15145 before closing at 15197 .The range of Nifty for the day was 111 points.

10. Bank Nifty opened at 34869 and made an intra day high of 35216 and a low of 34528 before closing at 34943 .The range of Nifty for the day was 688 points.

11. US Dollar Index is trading at 89.847

12. All sectors closedin green except metals and FMCG

13. India VIX increased to 19.13

14. US 10Y yields are at 1.606

15. Nifty futures saw long buildup

16. Bank Nifty saw short covering


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