10 things to know before Indian stock market opens on Friday
1.US markets had a gap down opening on fear of 2nd wave of Corona virus after FED meet. Dow Jones closed down by 6.9 percent and S&P 500 closed down by 5.89 percent.
2. SGX nifty is trading at 9579 indicating a gap down opening of about 300 points.
3. Nifty closed at 9902 down by 2.12 percent and bank nifty closed at 20522 down by 2.72 percent yesterday.
4. India VIX went down and closed at 29.77 up by 0.76 percent yesterday. Today we can expect VIX to cross 35.
5. FIIs and DIIs have sold for 805 and 874 crores in cash market respectively.
6. FIIs hold 1915 quantity net long futures. They hold 52k net call long and 82k net put long in index options.
7. Weekly expiry highest open interest on call (resistance) – 10500 and put(support) – 9500.
8. Monthly highest open interest on call -9500 and on put – 10000.
9. M&M and Hindalco – nifty 50 stocks are expected to declare their results today.
10. My view – Global markets are down on fear of 2nd wave of Corona virus. FIIs have covered their long futures and increased their long puts in index options indicating a bearish view. Nifty is likely to hold 9500 levels. Any breach of 9500 levels on a close basis would would mean more fear on the downside.
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