10 things you should now before market opens on Thursday
1.US markets closed negative overnight. Dow and S&P 500 are down by 0.65 and 0.36 percent respectively.
2. SGX nifty futures is trading at 9844 down by 0.21 percent.
3. Markets are highly volatile in a narrow range. Yesterday Nifty closed at 9882 down by 0.33 percent and Bank nifty closed at 20201 down by 0.47 percent.
4. India VIX went up by 1.18 percent and closed at 33.35 yesterday.
5. FIIs have sold for 486 crores and DIIs have bought for 1668 cores yesterday.
6. FIIs are almost neutral in futures with net 550 quantity short. They hold 35k net call long and 68k net put long in index options.
7. Weekly expiry highest open interest on call (resistance) – 10000 followed by 10300 and put(support) – 9700 followed by 9500.
8. Monthly highest open interest on call -10000 followed by 10500 and on put – 9000 followed by 9500.
9. No major stock results today.
10. My view – US markets are lower due to profit booking. FIIs are net sellers in cash market. There is no speculation in futures. We should wait in the coming days if there is any speculation in futures by FII to have a directional view. Today market might trade in the range of 9700 to 10000.
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