5th July'2021 (Evening)

5th July'2021 (Evening)  -- Written at 11.00PM

  • Indian indices opened gap up today and consolidated their gains for the day. as mentioned yesterday, Both Indices halted at their first resistance levels. Nifty made a high of 15845 and BankNifty made a high of 35234. 
  • Both indices made bullish candles on a daily chart and closed near their day high indicating strength. However, both are also very close to their resistances as well. If Nifty takes out 15840 tomorrow, a rise towards 15915 is possible and BankNifty if takes down, 35200 may make a move towards 35600.
  • Please refer my post yesterdays notes for a better understanding on current levels on the indices. I do not see the levels disturbed much.
  • The volumes though were low today. This could be due to a lower participation from the FII as the US markets are closed today and their activity may see a rise tomorrow.
  • In the cash market FII sold for 338Cr and DII bought for 645Cr, so the pattern continues.
  • On the FnO side, FII were neutral on Index futures and bullish on options. So kind of rangebound movement expected again. However, they made some strong bets on specific stocks. I suspect these are on Reliance and some financial stocks.
  • European markets closed in green today and US markets are closed. So tomorrow morning, we would lack a handover from US. We would be watching the Asian markets tomorrow. In absence of strong cues, there is a strong chance, Nifty may make an attempt towards 15915. 
  • Oil is above 77Dollar, though Dollar Index and US yields are under control. So, keep buying the dips as of now.

1. FII were net sellers for 338 Cr today, while DII were buyers for 645 Cr. A net buying of 307 Cr from the institutional side.

2. FII's created 3487 longs and created 4663 shorts on the indices

3. On the option front FII  sold 13341 calls and   sold 21778 puts. They also bought 18954 calls and  bought 5980 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 15700 followed by 15800 and highest OI for CE is at 1600 followed by 15800. Highest Put writing was seen at 15800 and highest call writing was seen at 16000 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 35000 followed by 34500 and highest OI for CE is at 36000 followed by 35500. Highest Put writing was seen at 35000 and highest call writing was seen at 36000 levels. 

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

7. US markets closed today

8. The breadth of the market was extremely positive today

9. Nifty opened at 15793 and made an intra day high of 15845 and a low of 15762 before closing at 15834 .The range of Nifty for the day was 83 points.

10. Bank Nifty opened at 35010 and made an intra day high of 35234 and a low of 34926 before closing at 35212 .The range of Nifty for the day was 308 points.

11. US Dollar Index is trading at 92.198

12. Metals was one index, that was beaten up. Pharma and Realty supported the markets.

13. India VIX decreased to 12.07

14. US 10Y yields are at 1.431

15. Nifty futures saw long buildup

16. Bank Nifty saw long buildup


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