Dalal St Daily 12 th November

 GLOBAL MARKETS

  • US markets closed flat and mixed.
  • In last two trading session DOW was up and NASDAQ was down but yesterday DOW closed lower and NASDAQ ended up 2% higher.
  • This means US markets are consolidating.
  • Blue chip stock benchmark indices did not perform well due to raise in covid cases and the fear of nation wide lock down again.
  • European markets closed marginally higher.
  • Dollar Index is below 94 and dollar index futures at 92.
  • Dollar is appreciating against rupee.
  • crude is trading at $41.
DOMESTIC MARKETS

  •  Asian markets are also mixed.
  • SGX nifty is trading is swinging from red to green territory as of now 8:00 AM SGX is trading 60 points lower, which shows a negative opening for our markets.
  • Yesterday FIIs have pumped in more than Rs 6000 crores, highest in last 5 days They have pumped in more than 25k crores and yesterday was the highest of all trading sessions.
  • The market gained for the eighth consecutive session with the benchmark indices hitting a fresh record high on November 11.
  • Nifty has rallied for 1200 points in less than 2 weeks and if the markets continue to show the bullishness again for sure the correction will be severe. 
  • Last month in october series when the markets rallied for 1000 points in 2 weeks it consolidated for the next two weeks in the october series. so we can expect some consolidation in coming trading sessions and if the consolidation did not start and if the markets continue to rally for sure the correction will be more painful.
  • Reliance fell more than Rs 100 intraday as there was MSCI weightage reduction news.
  • Bank Nifty was up 400 points, then fell 800 points only to move 600 points higher. Even Nifty fell 180 points from high and then shot up more than 180 points to take out morning high. yesterday markets were volatile and today that volatility may not be seen. 
  • Being the expiry day we may see some light sharp moves and consolidation may start.
  • HDFC and Kotak Bank doing very well.
  • IT stocks may out perform today. Infosys ADR is up more than 3% in US.
  • Usually markets peak out by the time of Diwali and we are nearing to the high in the market.
  • The broader markets' underperformance to frontliners continued as the Nifty Midcap index was up 0.4 percent and Smallcap index gained 0.7 percent.
OI ANALYSIS

CALLS

  • Maximum Call open interest of 19.04 lakh contracts was seen at 13,000 strike.
  • Call writing was seen at 12,700 strike.
  • Call unwinding was seen at 13,200 strike.
PUTS
  • Maximum Put open interest of 32.63 lakh contracts was seen at 12,000 strike.
  • Put writing was seen at 12,700 strike.
  • Put unwinding was seen at 11,600 strike.
TRADING RANGE
  • Nifty may trade between 12573-12924
  • Bank Nifty future may trade between 28446-29246
FII & DII ACTIVITY
  • FII have pumped in 6207 cr in cash market.
  • DII have sold 2463 cr in cash market.






THANK YOU

Sharath R

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