1st Jun' 2021 (Evening)

1st Jun' 2021 (Evening)

  • Markets today opened higher but then saw profit booking and dropped. Both indices made bearish candles on the daily chart and closed in red. While Nifty was marginally in red, Bank Nifty closed with half a percent of cut.
  • FII as mentioned yesterday were net sellers today to the tune of 450Cr. DII seems supported the market on the lower side and prevented any steep correction.
  • The lows of yesterday were protected by institutional intervention and that kind of spoiled the market setup. 
  • On the futures side, FII were kind of neutral, though they sold calls heavily and also bought in almost equal amount. I expect a rangebound market, though with a bearish bias. Lets see tomorrow.
  • On the options front, on Nifty mostly 15600 straddles was being played, so both 15600 call and 15660 put was active. Bank Nifty however seems to have some stiff resistance above 35500.
  • Markets today was generally cautious due to the following reasons. Discouraging GDP numbers and absence of Cues from US. 
  • US markets are trading flat today, their close today would be important to watch for the market action tomorrow.
  • Market breadth was poor, at the current levels, ;ack of optimism for the wider market is not a good sign. 
  • For Nifty, one or the other stock takes lead, for BankNifty though, the leadership is missing.
1. FII were net sellers for 449 Cr today, while DII were buyers for 230 Cr. A net selling of 219 Cr from the institutional side.

2. FII's created 3605 longs and created 1180 shorts on the indices

3. On the option front FII  sold 64270 calls and   sold 2364 puts. They also bought 54599 calls and  unwound 5707 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 15000 followed by 15400 and highest OI for CE is at 16000 followed by 15600. Highest Put writing was seen at 15600 and highest call writing was seen at 15600 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 34000 followed by 35000 and highest OI for CE is at 37500 followed by 35500. Highest Put writing was seen at no reasonable levels and highest call writing was seen at 35500 levels. 

6. Asian markets closed mixed and Europe closed mixed as well.

7. US markets trading flat with Dow marginally in green and Nasdaq marginally in red

8. The breadth of the market was weak today

9. Nifty opened at 15629 and made an intra day high of 15660 and a low of 15528 before closing at 15574 .The range of Nifty for the day was 132 points.

10. Bank Nifty opened at 35639 and made an intra day high of 35713 and a low of 35241 before closing at 35337 .The range of Nifty for the day was 472 points.

11. US Dollar Index is trading at 89.815

12. Metals led the rally again today and most of the indices were in green

13. India VIX increased to 17.39

14. US 10Y yields are at 1.613

15. Nifty futures saw a short build up

16. Bank Nifty saw short buildup


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