5th Jan' 2022 (Evening)

5th Jan' 2022 (Evening)  --  | Written at 11.00 PM |

  • Markets continued to be in bullish mode today as well. While Nifty took some time to shoot, Bank Nifty on the other hand was bullish throughout the day and there was no sign of weakness. 
  • Nifty
    • Nifty made a bullish candle on the daily chart for the fourth (and the first four) consecutive days of this months series.
    • Support
      • First support at 17790
      • Second support at 17675
    • Resistance 
      • First resistance at 18025
      • Second resistance at 18125
    • Nifty is now close to an important resistance at 18000. Beyond this we could see the momentum elevating up to 18125. What a move it is so far.
  • Bank NIfty
    • Bank Nifty actually surprised me today. After kind of struggling a bit yesterday, it gave a stellar rally today. While i was still bullish and expected it to move upto 37500, i did not expect it to happen today itself.
    • Support
      • First support at 37275
      • Second support at 36775
    • Resistance 
      • First resistance at 37900
      • Second resistance at 38500
    • Bank Nifty was very strong today, primarily driven by HDFC Bank, ICICI and Kotak Bank. All these are now showing some resistance. So lets see, tomorrow maybe a day of consolidation.
  • FII again bought today for 336Cr and DII added by another 1271Cr. Institutional buying was a major reason for the move today. 
  • FII also bought Index futures and unwound some shorts on Index future. Their writing on the put side was heavier than call side. So a support base exists here.
  • Options OI Indicate support at 17900 and 37000 for Nifty and Bank Nifty respectively. Lets see.
  • Dollar Index has eased a bit, though it is still above its short term support of 95.5. I am keenly watching this to breach.
  • US Yields are stable at yesterdays level. Probably a reason for the Banks to shoot up.
  • US Employment data was excellent today. Though the Covid cases are actually creating anxiety. Good part is that the market is not expecting a risk to economic activity and is continuing un abated. 

1. FII were net buyers for 336 Cr today, while DII were buyers for 1271 Cr. A net buying of 1607 Cr from the institutional side.

2. FII's created 3512 longs and unwound 1548 shorts on the index futures

3. On the option front FII  sold 38152 calls and   sold 48974 puts. They also bought 33566 calls and  bought 50438 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 17800 followed by 17500 and highest OI for CE is at 18000 followed by 18100. Highest Put writing was seen at 17900 and highest call writing was seen at 18100 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 37000 followed by 36000 and highest OI for CE is at 38000 followed by 39000. Highest Put writing was seen at 37000 and highest call writing was seen at 38500 levels. 

6. Asian markets closed mixed and Europe is trading in green

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 17820 and made an intra day high of 17944 and a low of 17748 before closing at 17925 .The range of Nifty for the day was 196 points.

10. Bank Nifty opened at 36943 and made an intra day high of 37862 and a low of 36756 before closing at 37695 .The range of Nifty for the day was 1106 points.

11. US Dollar Index is trading at 95.912

12. Led by BankNifty, except for IT and Pharma all sectors closed in green

13. India VIX increased to 17.2275

14. US 10Y yields are at 1.684

15. Nifty futures saw long buildup

16. Bank Nifty futures saw long buildup

17. US Brent oil increased to 81.28

18. USD / INR eased to 74.276


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