5th May' 2021 (Evening)

5th May' 2021 (Evening)

  • Honestly, I was expecting the market to open on a negative note today. However, the news of RBI Governor making announcement today changed the sentiment in the market. 
  • Expecting some bold announcements, market was strong from opening itself.
  • While there was nothing much to cheer about, the announcements also did not have to anything negative, so the mood just kind of continued.
  • This was the reason that inspite of both FII and DII being net sellers, market actually made decent gains.
  • On the FnO side, FII unwound some positions both on long and short side. However, they sold three puts for every call. Indicating some positivity within a range.
  • The Covid nervousness persists in the sentiment. I feel that the Covid numbers, vaccination numbers would keep an overhang on the market for some time.
  • There has been a bit of disconnect between US and Asian markets lately. Lets see how this plays going forward.
  • Indices closed marginally above their immediate resistances at the level from where they fell yesterday. I
  •  hope the upward momentum may take a bit higher from here but they would face immediate resistances at 14700, 14850 for Nifty and 33000 and 33450 for BankNifty.
  • Other Levels are as 

      • Nifty supports at 14450, 14275 and 14155 and resistance at 14700, 14850.
      • BankNifty supports at 32154, 31552 and 30584 and resistance at 33000, 33450.

1. FII were net sellers for 1110 Cr today, while DII were sellers for 240 Cr. A net selling of 1350 Cr from the institutional side.

2. FII's unwound 2135 longs and unwound 2111 shorts on the indices

3. On the option front FII  sold 8755 calls and   sold 25587 puts. They also bought 7682 calls and  bought 5248 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 14900. Highest Put writing was seen at 14600 and highest call writing was seen at 14850 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 31000 followed by 32000 and highest OI for CE is at 34000 followed by 33000. Highest Put writing was seen at 32000 and highest call writing was seen at 34000 levels. 

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

7. US markets trading in green as of now

8. The breadth of the market was extremely strong today

9. Nifty opened at 14604 and made an intra day high of 14637 and a low of 14506 before closing at 14617 .The range of Nifty for the day was 131 points.

10. Bank Nifty opened at 32577 and made an intra day high of 32862 and a low of 32068 before closing at 32783 .The range of Nifty for the day was 794 points.

11. US Dollar Index is trading at 91.343

12. Pharma and Banking stocks led the rally today.

13. India VIX reduced to 21.96

14. US 10Y yields are at 1.593

15. Nifty futures saw short covering

16. Bank Nifty did not see any substantial OI change


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