12th October' 2022 (Evening)

12th October' 2022 (Evening)  --  | Written on 13th October' 2022 at 6.00 AM |

  • Markets today seemed to be coping strong as compared to the previous days. After opening flattish, the indices consolidated and made some gains through the day to close strong.
  • Both #Nifty and #BankNifty made strong bullish candles on the daily chart, though these were still like inside candles as compared to the previous day. The levels now look like :
  • The consolidation yesterday helped elevate the first support a bit higher. While I do not hope so, watch for a breach of this support. If this support is held we may see some more buildup. A move towards the first resistance could very well be seen. 
  • Being an expiry day today, watch for some sharp intraday moves  as the previous days were volatile and may result into some expiry related adjustments.
  • #FII yesterday did not sell much. Their selling was limited to 560Cr or so. They however, build some long positions in Index futures at the same time cut their call shorts and added put shorts, and this is a good sign. #DII were relatively easy yesterday.
  • The Global markets action yesterday was muted with most of the markets in Asia and Europe closing in red. US markets closed flat yesterday and the US futures this morning are in green. This should help build the domestic sentiment. 
  • While we have outperformed globally over the past few weeks and month. In near term, the market is trying to take some direction from the mother markets. 
  • Dollar Index is in a range and the yields have inched slightly higher. The INR is also above 82 but not critical as a few days back. So i do not pick a near term cue from there as of now.
  • The options OI indicate some support building up at 17000 and 38500 for #Nifty and #BankNifty respectively. These should hold today. If one is an expiry trader, having a bullish bias would help.
  • Not much for today. 

1. FII were net selling for 542 Cr today, while DII were buyers for 85 Cr. A net selling of 457 Cr from the institutional side.

2. FII's created 8925 longs and unwound 3701 shorts on the index futures

3. On the option front FII  unwound 36042 short calls and   created 61880 short puts. They also closed 3515 long calls and  bought 44160 long Puts.

4. For next week expiry, Nifty has the highest OI for PE at 17000 followed by 17100 and highest OI for CE is at 17500 followed by 17400. Highest Put writing was seen at 17000 and highest call writing was seen at 17500 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 38500 followed by 39000 and highest OI for CE is at 40000 followed by 39500. Highest Put writing was seen at 38500 and highest call writing was seen at 39500 levels. 

6. Asian markets closed mostly in red and Europe closed in red

7. US markets closed flattish

8. The breadth of the market was strong today

9. Nifty opened at 17025 and made an intra day high of 17142 and a low of 16960 before closing at 17123 .The range of Nifty for the day was 182 points.

10. Bank Nifty opened at 38784 and made an intra day high of 39164 and a low of 38606 before closing at 39118 .The range of Bank Nifty for the day was 558 points.

11. US Dollar Index is at 113.15

12. Led by Realty, FMCG and Banking except media, most of the sectors closed in green

13. India VIX is at  20.1750

14. US 10Y yields are at 3.904

15. Nifty futures saw long buildup

16. Bank Nifty futures saw long buildup

17. US Brent oil is at 92.44

18. USD / INR is at 82.20


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