10 things you need to know before market opens on Tuesday
1. US markets was trading higher due to positive phase 1 trial for Corona vaccine. Dow Jones and S&P 500 closed 3.9 and 3.2 percent up yesterday.
2. SGX nifty is trading flat at 9000 levels today morning.
3. Yesterday Nifty and bank was bearish and both went down by 3.4 and 7.62 percent and closed at 8823 and 17573 respectively.
4. India VIX shot up by 7.62 percent and closed at 40.91 levels.
5. FIIs have sold for more than 2500 crore in cash market.
6. FIIs are holding more than 45000 net short futures contract and over 87000 net long put contracts indicating their bearish outlook.
7. Weekly highest open interest on call(resistance) – 9500 and on put(support)- 8800. There is good number or call OI build up at 9000 levels indicating a possible short term resistance if market has to move up. However things could change during market hours.
8. Monthly open interest on call – 10000 and put – 9000
9. Bajaj finance one of Nifty 50 stocks is expected to declare their results during g market hours. The stock has corrected more than 50 percent from 4000 levels.
10. My view stands neutral to bearish for the coming week. If there is short covering by FII markets are likely to move higher.
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