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Indian Market open with Negative clues from Asian Market and following on same by European market in second half Resulting continuous pressure through out the day on the bases of fresh announcement of tariff in continuation on china imports from USA side and seems its just a starting and it been spread further and create slow down in both the economics and lower the demand of commodity.
Meanwhile Indian Market had made the balance with the high earning results in IT stock whereas pressure was seen across banking and the broader market. This week more announcement and result are expected from IT companies where IT index looking in continuation of a new high, In my opinion, and analysis 14800 will be achieved soon in near terms.
The Nifty open at 10956 and made low of 10923 and soon be managed by a recovery in Reliance and IT stocks which made new high throughout the day and nifty too made the new high by making 10976 new high after previous day high close.
India VIX moved up by 3.06 percent at 12.77 levels. A spurt in VIX after the decline of last five sessions have given a pause in positive momentum.
Call Options Data
Maximum call open interest (OI) of 43.07 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance level for the July series.
This was followed by the 10,800 strike price, which now holds 29.95 lakh contracts in open interest, and 10,900, which has accumulated 26.23 lakh contracts in open interest.
Call writing was seen at the strike price of 11,000, which added 6.24 lakh contracts, followed by 11,200, which added 2.19 lakh contracts and 11,100 which added 1.6 lakh contracts.
Call unwinding was seen at the strike price of 10,800, which shed 0.96 lakh contracts, followed by 10,700, which shed 0.73 lakh contracts and 10,500 which shed 0.43 lakh contracts.
Put Options data
Maximum put open interest of 52.82 lakh contracts was seen at the 10,600 strike price. This will act as a crucial support level for the July series.
This was followed by the 10,700 strike price, which now holds 48.80 lakh contracts in open interest, and the 10,800 strike price, which has now accumulated 47.14 lakh contracts in open interest.
Put Writing was seen at the strike price of 10,800, which added 7.46 lakh contracts, followed by 10,900, which added 6.98 lakh contracts and 10,700, which added 2.37 lakh contracts.
Put Unwinding was seen at 10,300, which shed over 0.59 lakh contracts, followed by 10,500, which shed 0.19 lakh contracts.
FII & DII data
Foreign institutional investors (FIIs) bought shares worth Rs 636.27 crore and domestic institutional investors purchased shares worth Rs 15.33 crore in the Indian equity market on Wednesday, as per provisional data available on the NSE
Strategy for Nifty and Bank Nifty
Bankniftyfuture Bank Nifty will continuously have supplied below 26810-25 and may have pull back above 26850 hence would be taken as stop less for short position for the target of 26650 and 26616 where as upper side reversal would be up to 26911 and 26950!
Nifty would be short below 10920 with stop loss and reversal at 10955 for 10975 and 11040!
IDBI stock under F&O ban period on NSE
Market Strategy for tomorrow
Indian Market open with Negative clues from Asian Market and following on same by European market in second half Resulting continuous pressure through out the day on the bases of fresh announcement of tariff in continuation on china imports from USA side and seems its just a starting and it been spread further and create slow down in both the economics and lower the demand of commodity.
Meanwhile Indian Market had made the balance with the high earning results in IT stock whereas pressure was seen across banking and the broader market. This week more announcement and result are expected from IT companies where IT index looking in continuation of a new high, In my opinion, and analysis 14800 will be achieved soon in near terms.
The Nifty open at 10956 and made low of 10923 and soon be managed by a recovery in Reliance and IT stocks which made new high throughout the day and nifty too made the new high by making 10976 new high after previous day high close.
India VIX moved up by 3.06 percent at 12.77 levels. A spurt in VIX after the decline of last five sessions have given a pause in positive momentum.
Call Options Data
Maximum call open interest (OI) of 43.07 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance level for the July series.
This was followed by the 10,800 strike price, which now holds 29.95 lakh contracts in open interest, and 10,900, which has accumulated 26.23 lakh contracts in open interest.
Call writing was seen at the strike price of 11,000, which added 6.24 lakh contracts, followed by 11,200, which added 2.19 lakh contracts and 11,100 which added 1.6 lakh contracts.
Call unwinding was seen at the strike price of 10,800, which shed 0.96 lakh contracts, followed by 10,700, which shed 0.73 lakh contracts and 10,500 which shed 0.43 lakh contracts.
Put Options data
Maximum put open interest of 52.82 lakh contracts was seen at the 10,600 strike price. This will act as a crucial support level for the July series.
This was followed by the 10,700 strike price, which now holds 48.80 lakh contracts in open interest, and the 10,800 strike price, which has now accumulated 47.14 lakh contracts in open interest.
Put Writing was seen at the strike price of 10,800, which added 7.46 lakh contracts, followed by 10,900, which added 6.98 lakh contracts and 10,700, which added 2.37 lakh contracts.
Put Unwinding was seen at 10,300, which shed over 0.59 lakh contracts, followed by 10,500, which shed 0.19 lakh contracts.
FII & DII data
Foreign institutional investors (FIIs) bought shares worth Rs 636.27 crore and domestic institutional investors purchased shares worth Rs 15.33 crore in the Indian equity market on Wednesday, as per provisional data available on the NSE
Strategy for Nifty and Bank Nifty
Bankniftyfuture Bank Nifty will continuously have supplied below 26810-25 and may have pull back above 26850 hence would be taken as stop less for short position for the target of 26650 and 26616 where as upper side reversal would be up to 26911 and 26950!
Nifty would be short below 10920 with stop loss and reversal at 10955 for 10975 and 11040!
IDBI stock under F&O ban period on NSE
I do scan various sources to understand trends, brief on markets and understanding potential sectors of the day.
ReplyDeleteMost of the time your analysis is bang on. I admit sometime i fail to understand the trends but post market closure if i recheck i get the zist what u tried to say.
Thanks for providing your insights. Its great help to new bies like me.
thanks for appreciation but market is always supreme and can surprise any one.
ReplyDeleteSo managing risk is the key in our business.