Dalal St daily 21st October Premarket report
GLOBAL MARKETS
• US markets closed flat
• Dow Jones is up by 0.5%
• Wall street ends higher on stimulus optimism
• U.S. lawmakers are nearing a deal on a stimulus package aimed at cushioning the economic shock from the coronavirus pandemic.
• House of Representatives Speaker Nancy Pelosi said late on Tuesday that she hoped a coronavirus aid agreement could be accomplished by the end of this week. spoke with Treasury Secretary Steven Mnuchin on the stimulus deal.
• The S&P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 69 new highs and 29 new lows.
• European markets ended up lower on the note of increasing covid cases.
• S&P 500 vix is near to 30. Now it is @ 29.35 rose for 6th straight session.
• Volatility swings will be higher in coming sessions as the US elections are left with two weeks
• India VIX is now @22
• Dollar index is dropping, which is a postive sign for Indian markets as FII pump in more money.
• Gold is down by 100 points
• Silver tanked 1240 points
• Crude is now trading @$41
DOMESTIC MARKETS
• Indian markets are likely to stay volatile in coming sessions.
• India vix is above 20
• Asian markets have opened on the positive global cues .
• SGX Nifty is above 11950 up by 50 points.
• Which indicates a positive opening on our markets.
• When whole globall markets went down yesterday our markets set to rise and HUL dragged the index higher.
• Results were good market went higher and the profit booking also came along with it.
• Kotak Bank , bajaj finance is coming out with their results.
• On Monday all other banking stocks except HDFC Bank rallied which pulled 700 points higher, but on tuesday HDFC bank rallied and no other stocks supported the index.
• IT sector have started their bullishness on tuesday which made index volatile is the first few hours
• One day in a week, reliance is rallying but the next few days reliance underperforms.
• Pvt Banks saw some buyers yesterday
• 11900 strike saw some gains yesterday.
• Markets are not falling below previous weeks low which indicated are markets are expecting to move higher.
• 11700 strike has the highest PUT OI.
• 12500 strik3 has the highest Call OI for this week.
• ultra tech cement and bajaj twins are out from FnO trading as they are under ban.
• The overall market breadth was slightly positive with minor gains registered in the midcap and smallcap indices.
• According to pivot charts, the key support levels for the Nifty is placed at 11,839.6, followed by 11,782.4. If the index moves up, the key resistance levels to watch out for are 11,951.6 and 12,006.4.
OI analysis
CALLS
• Maximum Call OI of 24.96 lakh contracts was seen at 12,500 strike
• Call writing was seen at 12,000
• Call unwinding was seen at 12,200.
PUTS
• Maximum Put OI of 25.41 lakh contracts was seen at 11,000 strike
• Put writing was seen at 11,900
• Put unwinding was witnessed at 11,100 strike.
Built Up
• Long Unwinding was seen in Bank Nifty stocks.
• Short Covering was seen in Nifty stocks.
• Long OI built up was seen in Pharma, metals and Telecom stocks.
• Short OI built up was seen in Oil sector.
Trading Range
Nifty and Bank nifty will be volatile today
• Nifty may trade between 11750-12000
• Bank nifty may trade between 23800-24800
FII & DII
• FII have pumped in 1585 Cr in cash market.
• DII have sold share worth 1600 Cr in cash market
• US markets closed flat
• Dow Jones is up by 0.5%
• Wall street ends higher on stimulus optimism
• U.S. lawmakers are nearing a deal on a stimulus package aimed at cushioning the economic shock from the coronavirus pandemic.
• House of Representatives Speaker Nancy Pelosi said late on Tuesday that she hoped a coronavirus aid agreement could be accomplished by the end of this week. spoke with Treasury Secretary Steven Mnuchin on the stimulus deal.
• The S&P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 69 new highs and 29 new lows.
• European markets ended up lower on the note of increasing covid cases.
• S&P 500 vix is near to 30. Now it is @ 29.35 rose for 6th straight session.
• Volatility swings will be higher in coming sessions as the US elections are left with two weeks
• India VIX is now @22
• Dollar index is dropping, which is a postive sign for Indian markets as FII pump in more money.
• Gold is down by 100 points
• Silver tanked 1240 points
• Crude is now trading @$41
DOMESTIC MARKETS
• Indian markets are likely to stay volatile in coming sessions.
• India vix is above 20
• Asian markets have opened on the positive global cues .
• SGX Nifty is above 11950 up by 50 points.
• Which indicates a positive opening on our markets.
• When whole globall markets went down yesterday our markets set to rise and HUL dragged the index higher.
• Results were good market went higher and the profit booking also came along with it.
• Kotak Bank , bajaj finance is coming out with their results.
• On Monday all other banking stocks except HDFC Bank rallied which pulled 700 points higher, but on tuesday HDFC bank rallied and no other stocks supported the index.
• IT sector have started their bullishness on tuesday which made index volatile is the first few hours
• One day in a week, reliance is rallying but the next few days reliance underperforms.
• Pvt Banks saw some buyers yesterday
• 11900 strike saw some gains yesterday.
• Markets are not falling below previous weeks low which indicated are markets are expecting to move higher.
• 11700 strike has the highest PUT OI.
• 12500 strik3 has the highest Call OI for this week.
• ultra tech cement and bajaj twins are out from FnO trading as they are under ban.
• The overall market breadth was slightly positive with minor gains registered in the midcap and smallcap indices.
• According to pivot charts, the key support levels for the Nifty is placed at 11,839.6, followed by 11,782.4. If the index moves up, the key resistance levels to watch out for are 11,951.6 and 12,006.4.
OI analysis
CALLS
• Maximum Call OI of 24.96 lakh contracts was seen at 12,500 strike
• Call writing was seen at 12,000
• Call unwinding was seen at 12,200.
PUTS
• Maximum Put OI of 25.41 lakh contracts was seen at 11,000 strike
• Put writing was seen at 11,900
• Put unwinding was witnessed at 11,100 strike.
Built Up
• Long Unwinding was seen in Bank Nifty stocks.
• Short Covering was seen in Nifty stocks.
• Long OI built up was seen in Pharma, metals and Telecom stocks.
• Short OI built up was seen in Oil sector.
Trading Range
Nifty and Bank nifty will be volatile today
• Nifty may trade between 11750-12000
• Bank nifty may trade between 23800-24800
FII & DII
• FII have pumped in 1585 Cr in cash market.
• DII have sold share worth 1600 Cr in cash market
Thank You
Sharath R
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