13th Jan' 2022 (Evening)

13th Jan' 2022 (Evening)  --  | Written at 11.00 PM |

  • Responding to strong global cues, the markets opened flattish. While Nifty kind of consolidated in a range, Bank Nifty slid through the day. While Nifty closed exactly where it opened, Bank Nifty closed lower and made a bearish candle on the daily chart. Its first after 10 bullish candles.
  • Nifty is now very close to its only resistance of 18350, before its all time high. If this one is taken down, Nifty would then be staring at its all time high and may be take it down.
  • Nifty
    • Support
      • First support at 18175
      • Second support at 18000
    • Resistance 
      • First resistance at 18350
      • Second resistance at 18450
  • Bank Nifty
    • Support
      • First support at 38375
      • Second support at 3025
    • Resistance 
      • First resistance at 38750
      • Second resistance at 39200
  • FII sold for 1390Cr in cash today, however they created 17667 Longs on Index futures. Their stance is extremely bullish on this side.
  • Dollar Index has now eased below 95 and is now trading at 94.76, this could be a huge positive now for our markets. US yields however are stable at 1.725.
  • Jobs data from US was negative and also the PPI was negative. As of now the US markets have slipped in red. Their close will be important to set the tone tomorrow.
  • As of now, i see the data as positive and maintain my view as bullish. This view will be negated if the indices decisively breach the second support above.
  • Bank Nifty today was slightly weaker than Nifty and some profit booking was seen in it. If it holds its supports above, we may see a comeback on it tomorrow and it may attempt to take down 39000. Lets see...
  • The options OI indicate a support at 18000 and 38500 on Nifty and Bank Nifty as of now. 

1. FII were net sellers for 1390 Cr today, while DII were buyers for 1065 Cr. A net selling of 325 Cr from the institutional side.

2. FII's created 17667 longs and created 1545 shorts on the index futures

3. On the option front data is not relevant.

4. For next week expiry, Nifty has the highest OI for PE at 18000 followed by 18200 and highest OI for CE is at 18200 followed by 18300. Highest Put writing was seen at 18000 and highest call writing was seen at 18200-19000 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 38500 followed by 37500 and highest OI for CE is at 38500 followed by 39000. Highest Put writing was seen at 38500 and highest call writing was seen at 38500 levels. 

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

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

8. The breadth of the market was strong  today

9. Nifty opened at 18257 and made an intra day high of 18272 and a low of 18163 before closing at 18257 .The range of Nifty for the day was 109 points.

10. Bank Nifty opened at 38717 and made an intra day high of 38717 and a low of 38376 before closing at 38469 .The range of Nifty for the day was 341 points.

11. US Dollar Index is trading at 94.760

12. Except Bank Nifty and Realty all sectors closed in green

13. India VIX eased to 16.7050

14. US 10Y yields are at 1.725

15. Nifty futures saw long buildup

16. Bank Nifty futures saw unwinding

17. US Brent oil increased to 84.71

18. USD / INR increased to 73.960


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