Dalal St Daily 18/03/2021

 GLOBAL MARKETS

  • U.S. markets ended up in green 
  • Dow hit all time high.
  • Dow futures traded red from morning until the speech of FED.
  • FED sees U.S. GDP growth at 6% in 2021
  • The interest rates were unchanged. 
  • He was expecting inflation to temporarily surge till 2.4% above centeral bank's target of 2%.
  • Nasdaq is recovering from it's recent low. IT stocks started to perform in U.S.
  • S&P 500 VIX is below 20 and fell 2.8% yesterday.
  • Most of the global indices have opened green on U.S. FED speech.
  • Dollar tumbled across all major currencies.
  • Gold and Silver started to rally on inflation concern and was up more than 1.6%. 

INDIAN MARKETS

  • The benchmark indices Nifty closed at lowest part of the day and was down more than 200 points.
  • As usual our markets were volatile on Wednesdays on expiry related issue.
  • Bank Nifty fell for than 750 points intraday from the high and broke 34500 which was the crucial level.
  • Nifty has fallen more than 700 points from recent high and Bank Nifty has fallan more than 2300 points.
  • Even though the markets fell for 4 straight sessions, India VIX was falling continuously and was below 19. It is down more than 15% from 3 sessions.
  • looking at VIX the probability of market falling is very very limited, selling may get arrested anywhere but downside is risk is very limited.
  • SGX nifty is up by almost 60 points from yesterday low. trading at 14850.
  • Most of the Asian markets are up and we may also see some positive opening following the global cues.
  • Local cues looking good has FII's were net buyers on cash yesterday.
  • Hdfc twins, ICICI bank and bajaj twins have fallen nearly 10% if they start to perform Nifty may start to move higher towards 14900 & 15000 levels.
  • If nifty moves higher towards 14850 levels short covering may trigger soon.
  • Nifty may take support near 14722 where the 50 Moving Average is there.

  • Nifty may trade between 14566-14876.
  • Bank NIfty may trade between 34800-34600
  • we may see consolidation before any major moves because of expiry.

OPEN INTEREST ANALYSIS

  • Highest Call OI & stands @ 15000 
  • Highest Put OI stands @ 14000

  • put addition was seen @ 14200
  • call addition was seen @ 15000

  • put unwinding was seen @14000 & 15000 levels
  • call unwinding was seen @15400 & 15700 levels.

TECHNICAL LEVELS FOR NIFTY

  • MA (5) :- 14953
  • MA ( 10 ) :-15008.60
  • MA ( 20 ) :- 14953.41
  • MA ( 50 ) :- 14728.88
  • MA ( 100 ) :- 13844
  • MA ( 200 ) :- 12450

  • RSI (14 ) :- 45
  • ADX :- 12
  • ATR :- 268

FII & DII ACTIVITIES

  • FII have bought for 2625 crores.
  • DII have sold for 525 crores.

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