17th Jun' 2022 (Morning)

17th Jun' 2022 (Morning)  --  | Written at 6.30 AM |

  • After the #FED rate hike, following the US Markets, our indices made an initial rise, however they quickly lost steam and started breaking down the previous critical lows.
  • While #BankNifty is still above that level of 32155, #Nifty has broken down and has settled at 15360 for yesterday. 
  • The sentiment was closely following the #USFutures. As they started getting into red, our indices started giving up against it. Somehow, we were extremely resilient so far. We have to now see, does this resilience pull back quickly or we now get into the territory of 14200.
  • I have been mentioning the level of 14600 and the new reasonable support seems to be coming up at 14200. So look at the levels mentioned below :
  • The #USMarkets especially #Nasdaq were weak again and suffered deep cuts again. All three #DowJones #Nasdaq and #S&P are now again at the critical levels given earlier. We were holding up against this till now. I doubt now, on our capacity to hold. We should see the levels i mentioned earlier.
  • While this slide may not be linear and fast, a possibility of that happening aggressively cannot be ignored.
  • #FED seems to be prepared to increase rates further and will be followed by other central banks, the pain is not going away in a Jiffy. 
  •  Keeping it short for today.... 

1. FII were net sellers for 3257 Cr today, while DII were Buyers for 1929 Cr. A net selling of 1328 Cr from the institutional side.

2. FII's created 3472 longs and created 23060 shorts on the index futures

3. On the option front FII  unwound 35250 short calls and   created 36703 short puts. They also bought 17176 long calls and  bought 44305 long 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 16000 followed by 15700. Highest Put writing was seen at 15000-15500 and highest call writing was seen at 15700 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 32000 followed by 32500 and highest OI for CE is at 33500 followed by 34000. Highest Put writing was seen at No reasonable put writing and highest call writing was seen at 33500 levels. 

6. Asian markets closed in red yesterday and Europe also closed in deep red

7. US markets also closed with deep cuts.

8. The breadth of the market was extremely weak yesterday

9. Nifty opened at 15832 and made an intra day high of 15863 and a low of 15335 before closing at 15360 .The range of Nifty for the day was 528 points.

10. Bank Nifty opened at 33648 and made an intra day high of 33756 and a low of 32537 before closing at 32617 .The range of Bank Nifty for the day was 1219 points.

11. US Dollar Index is at 103.698

12. Led by Metals, all sectors closed in red

13. India VIX increased to 22.8625

14. US 10Y yields are at 3.248

15. Nifty futures saw short buildup

16. Bank Nifty futures saw short buildup

17. US Brent oil increased to 118.66

18. USD / INR increased to 77.978

 

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