Skip to main content

Reliance industry and HDFC to be watched for today;s session-17th June-Nifty bank Nifty overview


  1. Yesterday our markets were highly volatile due to Indo China border issue., Open interest consistently increasing at level of 10000,10100,10200,since its around eight lacs and above hence safely we can conclude that its call writers positions
  2. During the market hours, 3 deaths were reported.
  3. But later it reported that 20 soldiers died.
  4. It seems that China side also had casualties.
  5. Let me talk about Indo China problem separately.
  6. Now Asian markets are consolidating yesterday's huge gains.
  7. Some markets shot up 5% yesterday.
  8. But we have under performed due to border issue.
  9. HDFC Bank and HDFC supported the market.
  10. After a long time I see HDFC Bank as Number 1 among the gainers.
  11. Generally Housing Finance companies have done well yesterday. Both HDFC and LIC Housing did well.
  12. Reliance is also showing Resilience.
  13. FIIs continue to sell.
  14. They have sold for about Rs 1500 crores.
  15. So far in the last one week, they have sold for Rs 7500 crores or US$ 1 billion.
  16. So today, due to continued selling by FIIs and local cues like Indo China border issue, it is going to be difficult to predict the market movement.
  17. Only consolation is that we have only 6 more trading sessions and theta decay will favour the option writers.
  18. Reliance 1720CE, 1740CEs are trading actively with good premium.
  19. Since I am not expecting Reliance to cross 1700 in this expiry, I am looking to sell these Options. 
  20. Bank Nifty was very volatile as usual, yesterday 19000PE shot up from Rs 40 to Rs 340 and then came to Rs 75.
  21. Now there is no hope for SBI. Though smaller PSU Banks did well, SBI has been doing very badly.
  22. Before the results, it was trading around 175, after good results, now it is trading below Rs 175.
  23. Nifty future should take support at 9780.
  24. Resistance will be at 10000.
  25. Need to watch Dow Futures, which is down right now.

Comments

Post a Comment

Popular posts from this blog

STOCK CHART PATTERNS

  Stock chart patterns   are simply a visual representation of the prices buyers and sellers bought and sold at in the past. There is no magic in a chart pattern they just show you what happened in the past and what has a higher probability of happening in the future. The best use of chart patterns is to take a wider view of the trend on your time frame of choice and follow the path of least resistance.  A chart pattern can show that a stock is in a range with defined resistance and support. A chart could also show an uptrend of higher highs and higher lows or a downtrend of lower highs and lower lows. Stock chart patterns signal whether a stock is under accumulation or distribution or just trading in a defined price range.  The most popular use of stock chart patterns is for breakout trading signals as the probability increases of a move in a specific direction after a price breakout of a previous support or resistance. They are basically momentum indicators. The va...
Post a Comment
Read more

Pre market report for 9th June 2020 -Nifty Bank Nifty

CURTAIN RAISER for 9th JUNE NIFTY S&P 500 wiped out all the losses of 2020. Nasdaq is at all time high.US market closed higher Asian markets are mixed. SGX Nifty is up by about 50 points. Yesterday morning I said, markets are opening gap up but Nifty future likely to break 10200, at least once. But it broke 10200 and traded below that level and closed "Doji" pattern. That shows indecisiveness. We are struggling between positive Global and negative Local cues. We are struggling between FIIs who are buying and DIIs who are booking profits. OI at level of 10500 and 9500 is still very high Hence markets are highly volatile. Yesterday Nifty future fell more than 200 points from intraday high to intraday low. Bank Nifty was going all over the places. Bank Nifty future fell 900 points from intraday high to intraday low and recovered about 300 points. We are under performing world markets and that may ...
4 comments
Read more

How to Make your Stocks watch list: How to choose your Intraday stocks in 5 miniutes

How to make your Stocks watch list: How to choose your Intraday stocks in 5 minutes : Of late, I have come across problem of choosing stocks, which are tradable but when we start trading in morning we get stuck up which stocks are to be chose. For that matter we have to always prepare our stock watch list, which is not a herculean task and it can be made very efficiently &easily. I have always said that the most of best data is available in NSEINDIA website, choosing criteria for watch list as well as tradable stock is always to have implied volatility on daily and Yearly basis ,because  these are the stocks ,which are going to give us results as stocks trading n range of 0.25% movement is not going to work for us. This is the link of file downloading for volatility of stocks , you have to download the file in csv format , delete all the columns except B, G H as they carry name of stocks ,daily and actual volatility. In g and h column ,you can multiply them by 100 to ...
4 comments
Read more