Dalal St Daily 22 Jan

 GLOBAL MARKETS

  • U.S. markets was actually higher and hit fresh all time highs.
  • But Dow gave up all its gains in last one hour and closed 12 points lower.
  • In the morning Dow future was trading 85 points lower.
  • But the other two benchmark indices closed green and they closed with a mixed bias.
  • S&P 500 VIX continued to fall in U.S.
  • All European markets closed lower.
  • KOSPI is up by marginally 0.5%.
  • All other Asian markets are actually trading lower from the highs.

DOMESTIC MARKETS

  • SGX Nifty has opened lower but recovered 45 points and trading @14595.
  • Our markets are in a consolidation mood.
  • Yesterday in our markets the volatility continued to play its rule. Nifty created a fresh all time highs and created a big move towards the upside until last one hour. 
  • Nifty fell nearly 250 points and closed flat and Bank Nifty fell almost 900 points from the intraday high and closed 0.8% lower.
  • HDFC BANK was weak since the morning but ICICI Bank and Kotak Bank lifted the BankNifty but even they gave up the gains and created the panic.
  • Reliance is coming out with results. 
  • For short covering alone price was pushed 200 points from 1900 to 2000 in reliance.
  • All the major events including the start of Beidens presidency has also ended, the next major event is budget.
  • India VIX started to raise again.
  • In the morning it was down 5% but in the afternoon it was up by 2%.
  • Option Premiums are trading very high. 2000 points away from the CMP in banknifty is still trading with a good premium.

TRADING RANGE

  • Nifty futures may trade between 14400-14780
  • Bank Nifty may trade between 31870-32750

OI ANALYSIS

CALLS
  • Maximum Call open interest of 38.63 lakh contracts was seen at 15,000 strike.
  • Call writing was seen at 15,200 strike.
  • Call unwinding was seen at 14,400 strike.
PUTS
  • Maximum Put open interest of 28.21 lakh contracts was seen at 14,000 strike
  • Put writing was seen at 14,600 strike
  • Put unwinding was seen at 14,300 strike.

OI BUILD UP

LONG : HAVELLS, BAJAJ FINSERV, BAJAJ AUTO
SHORT : AMBUJA CEMENT,SRF
LONG UNWINDING : TCS, BANDHAN BANK
SHORT COVERING : RELIANCE, ICICI BANK, HUL, BAJ FINANCE.



FII&DII DATA

  • (FIIs) net bought shares worth Rs 1,614.66 crore.
  • (DIIs) net sold shares worth Rs 1,039.48 crore.



    THANK YOU
- SHARATH

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