10 things you must know before the market opens on Tuesday
1. US markets closed positive on Monday. Dow Jones is up by 0.36 percent and S&P 500 is up by 0.38 percent.
2. SGX nifty is trading flat at 9825 down by 0.01 percent.
3. Nifty closed at 9826 up by 2.57 percent and bank nifty closed at 19959 up by 3.43 percent yesterday
4. India VIX closed at 30.74 up by 1.73 percent yesterday. Though market moved up VIX did not fall.
5. FIIs have bought for 1575 and DIIs have sold for 459 crores in cash market.
6. FIIs have booked some of their long positions and they hold 19304 net long future contracts. They hold 48100 net call long and 72575 net put long in index options.
7. Weekly expiry highest open interest on call – 10000 (resistance) and on put – 9000 followed by 9500(support). There was huge put addition and call unwinding from 9500 strike which was responsible for the market rally.
8. Monthly highest open interest on call – 10k and put – 9k. Indicating a wide trading range for the June month.
9. No earinings from Nifty 50 stocks today.
10. My view – Markets have rallied almost 500 points in the last week. The immediate resistance 9700 was broken and market closed above it. FIIs are still long in futures. In index options they hold more number of put long contracts. Next resistance is at 10000. I am neutral to bullish for the day. We can expect some consolidation in the coming days.
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