10 things you need to know before market opens on Thursday!
1. US markets closed higher on prospects of economic opening after lockdown. Dow Jones and S&P 500 closed higher by 1.52 percent and 1.67 percent respectively.
2. SGX nifty has opened higher and trading at 9070 levels.
3. Nifty went up by 2.11 percent and closed at 9066 and bank nifty went down by 2.02 percent and closed at 17840 yesterday.
4. India VIX came down by 9.23 percent and closed at 35.81. Vix has been oscillating in the range of 35 to 40 levels for the past 2 weeks. Let’s see if it breaks the range today.
5. FIIs have sold for 1466 crore and DII have bought for 2373 crore in cash market.
6. FIIs have almost covered all their short position yesterday. They are net short by just 1800 contracts. Index options they have added long calls and they have net long puts of 69500 contracts.
7. Weekly highest open interest on call(resistance) – 9200 and on put(support)- 8800. We could see some heavy put writing from 8800 to 9000 levels. Call addition is seen at 9300 and 9400 levels and is less compared to put writing.
8. Monthly highest open interest on call – 10000 and put – 9000.
9. Bajaj Fin Serv one of nifty 50 stock is expected to declare their results today. The stock has corrected by 40 percent recently.
10. My view for today based on FII option data (weekly expiry) would be mildly bullish as FIIs have covered most of their shorts and there is heavy put writing till 9000 levels. 9300 and 9400 could be the immediate resistance to watch for.
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