18 Jul ’23 Post Mortem on FinNifty + Expiry Special
We had a gap up open and the high was formed the first swing i.e. 20476.25 by 09.25, from there the momentum was lost & we started falling.
There was a 1.19% fall between 11.15 to 12.20, then a brief recovery and then the selling continued. The options premium was elevated today, usually we do not have high premiums for Finnifty expiry. Most noticeably even the Nifty50 and BankNifty options premiums spiked today.
Between the last expiry & today, finnifty gained 1.4% ~ 279pts. Although we did not retest the ATH of 4th July, we came quite close today. The index is not looking weak though and we would require a sharp selling for a change in bullish bias.
There was a 1.19% fall between 11.15 to 12.20, then a brief recovery and then the selling continued. The options premium was elevated today, usually we do not have high premiums for Finnifty expiry. Most noticeably even the Nifty50 and BankNifty options premiums spiked today.
Between the last expiry & today, finnifty gained 1.4% ~ 279pts. Although we did not retest the ATH of 4th July, we came quite close today. The index is not looking weak though and we would require a sharp selling for a change in bullish bias.
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