Dalal St Daily 6th October

 GLOBAL MARKETS

  • U.S. markets ended up in the positive territory.
  • Dow is up by 400 points, Nasdaq is up by 250 points.
  • U.S. markets turned bullish as TRUMP returned to white house from the military hospital.
  • Joe Baiden has got a clear lead over trump.
  • Asian Markets are up.
  • European markets ended positive yesterday.
  • Dollar Index is falling behind 94 which is a good sign.
  • Oil jumps 5% on donald trump health update.
DOMESTIC MARKETS
  • Asian markets yesterday ended up in positive territory after giving up all the gains in the afternoon session.
  • Today Asian markets have opened up green.
  • SGX Nifty is up by 40 points. we may expect a positive start in our markets.
  • Our markets were up by 3rd straigh session.Yesterday our markets were very volatile.
  •  Yesterday Interest on Interest case was again postponed and that was the reason why Bank Nifty fell about 500 points from Intraday high.
  • Rise in the Index came from the rally in IT sectors after TCS said their buy back plan.
  • TCS and Infosys alone contributed 75 points for Nifty's rally.
  • Tomorrow i.e., on wednesday TCS is coming up with their results and their IV has gone up heavily.
  • For third session Nifty sustained the Gap up and managed to close higer, in the technical point of view Nifty is at the crucial resistance and the sell off which came earlier with volatile moves. I have mentioned this resistance zones in my previous blogs check out that later.
  • Nifty has already recovered 80% of the recent fall from the highs and Bank Nifty has recovered about 2500 points which is 50% of the recent fall.
  • ADX indicator on daily charts have shown some momentum to cross above 20 and positive DMI cross over came yesterday @ the gap up opening.
  • There are no important economic events data coming this week except the PMI data which is coming today and the crude inventories data.
  • Both Indian and U.S. markets were up but both countries VIX is higher.
  • India VIX is higher despite the markets are moving higher this shows the big up movement on the higher side. 
  • Nifty's immidiete resistance is placed @ 11600 levels once it breaks 11600 next target will be 11800
TRADING RANGE
  • Today we can expect some volatile moves both in NIFTY and BANK NIFTY.
  • Today Nifty may trade between 11350 - 11650.
  • Bank Nifty may trade between 22000-23000 levels
  • Supporting levels and resistance levels are increasing every day.
OI ANALYSIS

CALLS
  • Maximum CALL OI of 18 lakh contracts was seen @12000 strike. and which is followed by 12100 and 11500 strike.
  • Call writing was seen @ 11800 strike.
  • Call unwinding was seen @ 11500 strike.
PUTS
  • Maximum PUTS OI of 36 lakh contracts was seen @ 10500 strike which will act as crucial support for october series.
  • Put writing was seen @11500 strike.
  • Put unwinding was seen @ 12000 strike.



Thank You

SHARATH

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