15th Feb' 2022 (Evening)

15th Feb' 2022 (Evening)  --  | Written at 11.00 PM |

  • Last two days have been phenomenal. Yesterday was a day of the largest fall and today was a day of largest gains. A 500 point swing on Nifty and a 1500 point swing on Bank Nifty in a day. Not sure on how many would have caught this swing. Well I could catch a good part of it, both ways. Fruitful two days for me.
  • The Russia Ukraine tension was the overhang, i mentioned for the last days and yesterday it played it on our markets with a bang. The news brought the market down and the same lifted it again today.
  • Both the Indices made engulfing candles today on a daily chart and closed at day highs. They are also above their critical support levels, before the fall yesterday. Nifty closed above 17300 and Bank Nifty above 38000.  Watch the first hour low, if it holds, the rally may build on itself, else, Todays massive rally may lead to small profit booking tomorrow,
  • Levels
    • After the swing today, the second support is close to its strong base now. The new support would form tomorrow, if we see some profit booking on this rally. Since the first resistance is close from the spot and todays high, we may see some consolidation at the current level.
  • FII sold again for 2298Cr today. DII however bought for 4411Cr today and swept the selling by the FII. On the charts, after 20th Dec, Nifty has tested the 16800 support three times now. This while forming lower highs every time since then. Next testing of 16800 may turn to be brutal and may give way.
  • Bank Nifty however, has been stronger since then and has been forming higher swing levels, except for the last one. So Bank Nifty may also come under pressure, if Nifty takes it.
  • Options OI indicate a support at 17000 and 37500 for this week. 
  • Dollar Index is at 95.965 and US 10 Y yields are above 2 at 2.029. The yields have been consistently inching higher and continue to pose risk on the flight of capital.
  • Crude on the other hand has cooled after the tensions eased at Russia Ukraine borders today. The situation is however, still to be kept an eye upon.
  • Amongst the global economic data today, Japanese GDP was marginally lower than expectation, British Earning index was positive, US PPI data was positive and German economic sentiment was negative. The PPI data from US indicates a strong economic activity, however, would fan Inflation concerns, though as of now the markets are cheering the Russian move.
  • Hope the addition of HDFC Bank helps the readers. Would add Larsen and Toubro from next week.

1. FII were net sellers for 2298 Cr today, while DII were buyers for 4411 Cr. A net buying of 2113 Cr from the institutional side.

2. FII's created 16285 longs and unwound 4120 shorts on the index futures

3. On the option front FII  created 17477 short calls and   created 33597 short puts. They also bought 98504 long calls and  bought 40332 long Puts.

4. For next week expiry, Nifty has the highest OI for PE at 17000 followed by 16800 and highest OI for CE is at 17700 followed by 17500. Highest Put writing was seen at 17000 and highest call writing was seen at 17700 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 37000 followed by 36500 and highest OI for CE is at 39000 followed by 38500. Highest Put writing was seen at 37500 and highest call writing was seen at 38500 levels. 

6. Asian markets closed mixed and Europe closed in green

7. US markets trading in green as of now

8. The breadth of the market was extremely strong today

9. Nifty opened at 16933 and made an intra day high of 17375 and a low of 16839 before closing at 17352 .The range of Nifty for the day was 536 points.

10. Bank Nifty opened at 36989 and made an intra day high of 38231 and a low of 36651 before closing at 38170 .The range of Nifty for the day was 1580 points.

11. US Dollar Index is trading at 95.965

12. Led by Auto and PSU Banks, all sectors closed in green today

13. India VIX eased to 20.6125

14. US 10Y yields are at 2.029

15. Nifty futures saw long buildup

16. Bank Nifty futures saw long buildup

17. US Brent oil increased to 92.94

18. USD / INR increased to 75.232


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