3rd May'2021 (Evening)

3rd May'2021 (Evening)

  • Markets opened gap down today, but saw some consolidation through the day. With Nifty closing in green and though Bank Nifty closed in red, both the indices made bullish candles today.
  • Both indices picked up support at levels mentioned yesterday and closed at high points of the day, leaving some optimism for opening tomorrow. 
  • FII continued to sell today in cash and that too heavy (2289Cr). In F&O also, they created more short positions and unwound longs. The opening of this series at 14850 for Nifty and 33500 for BankNifty would continue to be strong resistance levels. 
  • Though Markets may be looking at life beyond covid, for any reasonable upmove, FII support would be required. So for now, indices may remain rangebound. 
  • I mentioned this yesterday as well.
  • On options, Nifty range for this week could be 14500 to 15000 and Bank Nifty could be 32000-33000.
  • Levels remain same as yesterday. 
    • Nifty supports at 14450, 14275 and 14155 and resistance at 14850, 15000
    • BankNifty supports at 32154, 31552 and 30584 and resistance at 33450 and 34300

1. FII were net sellers for 2289 Cr today, while DII were buyers for 552 Cr. A net selling of 1737 Cr from the institutional side.

2. FII's unwound 8382 longs and created 8938 shorts on the indices

3. On the option front FII  sold 51050 calls and   sold 38116 puts. They also bought 56992 calls and  bought 53695 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 15500. Highest Put writing was seen at 14500 and highest call writing was seen at 15000 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 35000 followed by 36000. Highest Put writing was seen at 32500 and highest call writing was seen at 32500 levels. 

6. Asian markets closed mostly in red today, while Europe closed in green.

US markets trading strong with Dow a percent up and Nasdaq is flat.

8. The breadth of the market was strong

9. Nifty opened at 14481 and made an intra day high of 14673 and a low of 14416 before closing at 14634 .The range of Nifty for the day was 257 points.

10. Bank Nifty opened at 32368 and made an intra day high of 32566 and a low of 31906 before closing at 32465 .The range of Nifty for the day was 660 points.

11. US Dollar Index is trading at 90.960

12. Metals led the markets today, followed by FMCG and Pharma. Banking and financial stocks took a hit today.

13. India VIX rose to 23.69

14. US 10Y yields are at 1.619

15. Nifty futures saw OI buildup

16. Bank Nifty saw a short buildup


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