18th Aug' 2022 (Evening)

18th Aug' 2022 (Evening)   --   |  Written at 11.00 PM   |

  • A rangebound expiry today, probably would have kept some people at edge. However, expiry traders would have made good money if they changed direction timely. Else this may have been disastrous. 
  • Both #Nifty and #BankNifty made bullish candles on the daily chart. A large part of the candle on #BankNifty is driven from short covering. With most of the stocks in #Banknifty near their resistance, it would be now interesting to see how it moves from here.
  • Lets look at the levels :
  • #FII sold today in cash after some time. They also unwound a large number of longs on Index Futures and Stock futures as well, creating a good amount of shorts as well at the same time. Looking at the levels where this has happened, this could be an indication of a bit of profit booking coming up.
  • The Dollar Index is now again above 107 and the concerns of rate rise is back on the street. The jobless claims data in US was better than expectation indicates that probably all concerns of Inflation haven't gone yet. This is exactly the sentiment coming out from British CPI yesterday. This keeps a bit of pressure on US markets.
  • US markets are trading flattish as of now, the Asian markets closed mostly in red. So I would continue to keep my caution lids covered. I mentioned yesterday that #BankNifty could give some wild moves. Lets see...
  • The options OI also indicate a wider trading range of #BankNifty for this week. #Nifty seems to be bit more ranged. However, being the last week of the August series, volatility may anyways remain high. So be careful.
  • Keeping it short for today...

1. FII were net sellers for 1706 Cr today, while DII were buyers for 470 Cr. A net selling of 1236 Cr from the institutional side.

2. FII's unwound 8414 longs and created 9790 shorts on the index futures

3. On the option front FII  non relevant 85650 short calls and   non relevant 100540 short puts. They also non relevant 116827 long calls and  non relevant 104044 long Puts.

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

5. For the next week expiry, Bank Nifty has the highest OI for PE at 39000 followed by 39500 and highest OI for CE is at 40000 followed by 39500. Highest Put writing was seen at 39500 and highest call writing was seen at 40200 levels. 

6. Asian markets closed mostly in red and Europe trading in green as of now

7. US markets trading flattish with Nasdaq flat and Dow mildly in red

8. The breadth of the market was neutral today

9. Nifty opened at 17898 and made an intra day high of 17968 and a low of 17852 before closing at 17956 .The range of Nifty for the day was 116 points.

10. Bank Nifty opened at 39324 and made an intra day high of 39703 and a low of 39291 before closing at 39656 .The range of Bank Nifty for the day was 412 points.

11. US Dollar Index is at 107.295

12. Auto, IT and Pharma lost today while BankNIfty, realty and Metals gained

13. India VIX increased to 17.35

14. US 10Y yields are at 2.877

15. Nifty futures saw long buildup

16. Bank Nifty futures saw short covering

17. US Brent oil eased to 95.97

18. USD / INR is at 79.774

 

Comments

Post a Comment

Popular posts from this blog

4th November' 2022 (Evening)

Image
4th November' 2022 (Evening)   --  | Written at 8.00 PM on 6th November' 2022  | Publishing the notes after a gap today. So first sorry for that. Having a full time day job, brings its own set of challenges and sometimes, the work pressure makes it extremely difficult to squeeze time to analyze and publish the analysis. I mentioned in the previous notes that a major resistance at 17900 will be breached and advised to watch the price action. The indices pleasantly obliged and have been holding strong at these levels. On Friday also, #Nifty made a strong bullish candle on the daily chart. It has also ended the weekly candle strong on a bullish note. #BankNifty is showing some exhaustion and is witnessing a brutal tug off war between bulls and bears. We will discuss all this, but before that, levels... From the levels above, 18200 seems to be a resistance level for #Nifty and 41550 the resistance for #BankNifty. However, if we compare the range of first support to first...
Read more

28th October' 2022 (Evening)

Image
28th October' 2022 (Evening)   --   |  Written at 9.30 PM on 30th October' 2022   | The last month closed on a high note. Starting weak, the month of October saw decent gains and closed almost at month highs. Market was still strong and on the first day of the current series also, the indices were relatively strong.  #Nifty made 4 consecutive bullish candles on the daily chart. #BankNifty made a bearish candle after 3 bullish candles, however still made a higher high and a higher low. Levels : Both #Nifty and #BankNifty are in a range of 17650 to 17900 and 39825 to 41550 respectively. In this range #BankNifty saw some profit booking on Friday, while #Nifty is yet to test the upper level. I expected #Nifty to test 17900 on Friday, however this did not happen. This may probably get breached in the opening tomorrow. Important to see is that will this trigger a profit booking and a rejection of the level or will the level hold. On Friday, the first tr...
Read more

25th October' 2022 (Evening)

25th October' 2022 (Evening)   --   |  Written at 11.00 PM on 26th October' 2022  | 1. FII were net selling for 247 Cr today, while DII were buyers for 872 Cr. A net buying of 625 Cr from the institutional side. 2. FII's created 1390 longs and unwound 17862 shorts on the index futures 3. On the option front FII  unwound 7656 short calls and   unwound 28440 short puts. They also closed 34543 long calls and  closed 96232 long Puts. 4. For next week expiry, Nifty has the highest OI for PE at 17500 followed by 17600 and highest OI for CE is at 18000 followed by 17800. Highest Put writing was seen at 17700 and highest call writing was seen at 17800 levels. 5. For the next week expiry, Bank Nifty has the highest OI for PE at 40000 followed by 40500 and highest OI for CE is at 42000 followed by 41500. Highest Put writing was seen at 41100 and highest call writing was seen at 41500 levels.  6. Asian markets closed mostly in green today and ...
Read more