30th April' 2021 (Evening)

30th April' 2021 (Evening)

  • Covid cases continue to drive the underperformance of our markets. While it was felt in between that the market has started to look through the Covid crisis and is factoring in the post Covid and vaccination scenario. The markets were seen shaken again on Friday.
  • The move in the last couple of days could have been expiry driven is a feeling.
  • Over the week end, the nervousness of the market was obvious. Major events like the Election results were expected and hence probably the players did not leave heavy positions. Hence there was sharp unwinding of OI on both indices.
  • The results are out and except for Bengal, there are no major surprises. Lets see how is this taken by the market.
  • Nifty is at its 20 and 50DEMA. And it is an important support. If this is breached in the opening tomorrow, Then opening on Monday and the level at which it takes support are important. Three levels are important, 14450, 14275 and 14155. 
  • BankNifty is in a more interesting situation. It is between its 20DEMA @ 32715and 50DEMA @ 33119. For a directional move, a breach on one side is important. Three important levels for BankNifty are 32154, 31552 and 30584. 
  • Nifty would face resistance at 14850 and 15050.
  • Bank Nifty would face resistance at 33450 and 34300.
  • For both above indices a close above these levels are important for further rise.
  • Between these levels, market may remain mostly rangebound.
  • Options data indicates Nifty range of 14500-15500 and BankNifty range of 32000-34000.

1. FII were net sellers for 3465 Cr today, while DII were buyers for 1419 Cr. A net selling of 2046 Cr from the institutional side.

2. FII's unwound 8679 longs and created 19982 shorts on the indices

3. On the option front FII  sold 56356 calls and   sold 21471 puts. They also bought 70684 calls and  bought 49239 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 16000 followed by 15500. Highest Put writing was seen at 14800 and highest call writing was seen at 14800 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 32000 followed by 30000 and highest OI for CE is at 34000 followed by 36000. Highest Put writing was seen at 32000 and highest call writing was seen at 34000 levels. 

6. Asian and Eropean markets closed in red on friday.

US markets closed in red on Friday and show a weka trend in immediate short term.

8. The breadth of the market was weak.

9. Nifty opened at 14747 and made an intra day high of 14855 and a low of 14601 before closing at 14631 .The range of Nifty for the day was 254 points.

10. Bank Nifty opened at 33112 and made an intra day high of 33455 and a low of 32663 before closing at 32781 .The range of Nifty for the day was 792 points.

11. US Dollar Index is trading at 91.287

12. Except pharma, all sectors took a hit, with BankNifty leading from front.

13. India VIX reduced to 23.03

14. US 10Y yields were held at 1.626

15. Nifty futures saw long unwinding

16. Bank Nifty saw a long unwinding


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