Ten things you must know before Indian Stock Market open on Wednesday.
1. US markets closed positive on tuesday. Dow Jones is up by 1.05 percent and S&P 500 is up by 0.82 percent.
2. SGX nifty is trading above 10000 up by 1.07 percent.
3. Nifty closed at 9976 up by 1.57 percent and bank nifty closed at 20553 up by 2.86 percent yesterday.
4. India VIX closed at 30.12 down by 2.02 percent yesterday.
5. FIIs have bought for a huge 7498 and DIIs have also bought for 441 crores in cash market.
6. FIIs added more long in futures. They hold 24895 net long future contracts. They hold 61900 net call long and 67662 net put long in index options.
7. Weekly expiry highest open interest on call – 10000 (resistance) and on put – 9000 followed by 9800. The support has shifted higher from 9500 to 9800 levels.
8. Monthly highest open interest on call – 10k and put – 9k. Indicating a wide trading range for the June month.
9. BPCL one of nifty 50 stock is expected to declare the result today.
10. My view based on FII F&O data – FIIs have have bought for a huge amount in cash market. They are net long in index futures and neutral in index options. The are huge puts added below the 9800 compared to calls above 10000. My view is bullish for the day. I would not be surprised if markets close above 10000 today.
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