EquityCompound2

30th Jun'2021 (Evening) Indices opened marginally up today and made an attempt to rise. However, they lost steam in the second half and saw a continuous decline to close at the lows of the day. While Nifty did not breach the first critical level of 15673 (20DEMA and First Swing support) and closed above at 15721, BankNifty did breach the first support at 20DEMA at 34882 and closed lower at 34772. Looking at the price action, the next levels to watch for are 15673, 15450 for Nifty and 34525, 33908 for BankNifty. FII again sold for 1600Cr, while DII bought for 1500Cr. The same pattern which has been followed by them for some days. Though in FnO, FII created some longs today. In any case FII have not been creating shorts. While the FII created Long on Index futures, they sold stock futures heavily and surprisingly also unwound a good number of puts. This actually could be misleading and seems like an indication of a short term weakness. Citing the weekly expiry tomorrow, I advice caut...

29th Jun'2021 (Evening)\ Markets opened marginally lower today and started sliding due to profit booking. While Nifty gave away approx 70 points, BankNifty gave away approx 350 points today. Both indices made bearish candles on their daily charts, this being a second successive bearish candle. Though it is still above its important supports of 20 DEMA and also Previous Swing lows. These levels are as follows : Nifty - 20DEMA at 15673. First Swing support - 15673 Second Swing support - 15450 BankNifty - 20DEMA at 34882 First Swing support - 34525 Second Swing support - 33908 Coincidentally Nifty 20DEMA and Pr Swing coincide at 15673, making it an important support. Today Nifty made a low of 15713, just above this level, so watch this tomorrow morning. BankNifty I feel will has three levels at 34882, 34525 and then 33908. Today BankNifty made a low of 34913. This is just marginally above the first support of 34882. So watch this level tomorrow morning. If the Index breaches one level...

28th Jun'2021 (Evening) Markets opened gap up today(Nifty at a new all time high), but immediately started seeing profit booking. The slide down was slow but continuous. Nifty Closed almost at the lows and BankNifty made a slight recovery from its lows before closing. While the movements have been indicative of support and expectations of a break out were high among traders, they were shattered at least for today, as once again market rejected 15900 level for Nifty. As mentioned earlier, BankNifty has to support for a market expansion above 15900/16000. While BankNifty was seemingly stronger than Nifty today, it could not break out as well. Then comes Reliance and it also disappointed today. So all in all nothing great happened. FII sold again today both in cash as well as they also unwound some long in futures and created some shorts. They also sold three times more calls than puts. So kind of bearish both in cash and futures. Indices have been sold off at highs by FII and bought ...

25th Jun'2021 (Evening) After closing the Jun series on a slightly bearish note, making a bearish candle on the Monthly chart (tweaked for the expiry dates), Indices on Friday, picked up strong momentum and closed strong. It made a strong bullish candle both on the daily as well as the weekly chart. Both Nifty and BankNifty also saw some short covering on the futures side. This could be a result of some buying by the DII in the cash market. FII sold for 678 Cr and DII bought for 1154Cr.  Nifty was particularly very strong. In spite of a negative contribution from Index heavy weight Reliance, it made a decent gain. So now if reliance supports, Nifty could make a breakthrough. IT sector seems to be specially bullish. I have been pointing out this sector for some time now and hope it helped readers of my notes. BankNifty and Auto are at important levels after recent move. The key to Nifty's move further is now, BankNifty. I mentioned earlier also, without BankNifty support, Nifty ...

22nd Jun' 2021 (Evening) 1. FII were net sellers for 1027 Cr today, while DII were buyers for 302 Cr. A net selling of 725 Cr from the institutional side. 2. FII's created 4486 longs and unwound 7147 shorts on the indices 3. On the option front FII  sold 32402 calls and   unwound 23484 puts. They also bought 61550 calls and  bought 13860 Puts. 4. For next week expiry, Nifty has the highest OI for PE at 15500 followed by 15000 and highest OI for CE is at 16000 followed by 15900. Highest Put writing was seen at 15800 and highest call writing was seen at 15900 levels. 5. For the next week expiry, Bank Nifty has the highest OI for PE at 33000 followed by 34000 and highest OI for CE is at 35000 followed by 35500. Highest Put writing was seen at 35000 and highest call writing was seen at 35000 levels.  6. Asian markets closed mixed and Europe closed in green 7. US markets are trading flat as of now 8. The breadth of the market was strong today 9. Nifty opened at 15840...