2nd Jun' 2021 (Evening)

2nd Jun' 2021 (Evening)

  • Markets opened in negative today and saw profit booking until a low of 15459 on Nifty and 35070 on BankNifty. They however made a decent recovery from the day lows to close in green after making a bullish candle on the daily chart.
  • FII were net buyers today and their buying was complimented by DII buying as well. A combined buying of 1162 Cr from the institutional side, provided the support to the indices at lower levels.
  • I feel Nifty is strong till it is above 15380 and Nifty above 34950. While both the indices are just below their immediate resistance at 15620 and 35540. A rise above these levels tomorrow may take the markets back to their immediate swing highs and Nifty may attempt a fresh All time high, this time this could be around 15800.
  • For a decent trade, a breach on either side of these levels has to be watched for. Nifty 15380 to 15620 and Bank Nifty 34950 to 35540.
  • Market breadth was positive today and supported by VIX is in favor of bulls. 
  • FII unwound a decent amount of longs and some puts today, they also wrote calls, indicating a slightly bearish stance in the FnO.
  • The weekly expiry tomorrow may remain within a range. This range could be 15450-15600 on Nifty and 35000 to 35500 on BankNifty.

1. FII were net buyers for 921 Cr today, while DII were buyers for 241 Cr. A net selling of 1162 Cr from the institutional side.

2. FII's unwound 9536 longs and unwound 132 shorts on the indices

3. On the option front FII  sold 12396 calls and   sold 509 puts. They also bought 6301 calls and  bought 1472 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 15000 followed by 15500 and highest OI for CE is at 15700 followed by 15600. Highest Put writing was seen at 15450 and highest call writing was seen at 15700 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 35000 followed by 34000 and highest OI for CE is at 35500 followed by 37000. Highest Put writing was seen at 35000 and highest call writing was seen at 35000 levels. 

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

7. US markets trading flat 

8. The breadth of the market was strong today

9. Nifty opened at 15520 and made an intra day high of 15597 and a low of 15459 before closing at 15576 .The range of Nifty for the day was 138 points.

10. Bank Nifty opened at 35271 and made an intra day high of 35415 and a low of 35070 before closing at 35373 .The range of Nifty for the day was 345 points.

11. US Dollar Index is trading at 89.903

12. Except IT and FMCG, most of the sectors closed in green

13. India VIX reduced to 17.21

14. US 10Y yields are at 1.588

15. Nifty futures saw unwinding

16. Bank Nifty saw short covering


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