Corona virus India figures:
Sunday, 18th April : 2,61,500 new cases (over previous 24 hrs), 1501 deaths
Monday,19th April : 2,73,810 new cases (over previous 24 hrs), 1619 deaths
Tuesday, 20th April : 2,59,170 new cases (over previous 24 hrs), 1761 deaths
Wednesday, 21st April : 2,95,041 new cases (over previous 24 hrs), 2023 deaths
These are the figures everybody is looking at. Not Dow Jones, not Nasdaq, not Hang Seng, no foreign market indices. We are still in deep red. And when there is fear of any kind, FIIs Sell. That’s what they did on Tuesday (-1082 Crs) and even though DIIs bought more (+1323 Crs) both indices fell. How and why? Simple- FIIs are known to buy large cap & Nifty stocks so when they sell, they sell large cap Nifty stocks, DIIs on the other hand are diversified in their purchase and hence you see Nifty midcap 50, Nifty midcap 100 & nifty small cap 100 gain, albeit by small percentages. However, FIIs were net buyers in index futures (+307 Crs) if that gives any comfort but net sellers in stock futures (-442 Crs). And that tells me that FIIs are are not in ‘ Sell-all’ mode as of now but they are booking profits in peaked up stocks and are cautious as far as buying is considered. In such circumstances, there is no point of analysing option chain data. As for charts, Monday’s low (14191) was likely to provide support but as of now SGX Nifty is trading at 14066- much below that support, so expect gap down opening tomorrow. If by any miracle, Nifty rises above Tuesday’s close, I have market 2 resistances where you can Sell- it still is ‘sell on rise’ market so do not attempt to buy at so called ‘support’. There is no convincing support, frankly.
Disclaimer: I have sold both Call and Put options of tomorrow’s weekly expiry.
Sunday, 18th April : 2,61,500 new cases (over previous 24 hrs), 1501 deaths
Monday,19th April : 2,73,810 new cases (over previous 24 hrs), 1619 deaths
Tuesday, 20th April : 2,59,170 new cases (over previous 24 hrs), 1761 deaths
Wednesday, 21st April : 2,95,041 new cases (over previous 24 hrs), 2023 deaths
These are the figures everybody is looking at. Not Dow Jones, not Nasdaq, not Hang Seng, no foreign market indices. We are still in deep red. And when there is fear of any kind, FIIs Sell. That’s what they did on Tuesday (-1082 Crs) and even though DIIs bought more (+1323 Crs) both indices fell. How and why? Simple- FIIs are known to buy large cap & Nifty stocks so when they sell, they sell large cap Nifty stocks, DIIs on the other hand are diversified in their purchase and hence you see Nifty midcap 50, Nifty midcap 100 & nifty small cap 100 gain, albeit by small percentages. However, FIIs were net buyers in index futures (+307 Crs) if that gives any comfort but net sellers in stock futures (-442 Crs). And that tells me that FIIs are are not in ‘ Sell-all’ mode as of now but they are booking profits in peaked up stocks and are cautious as far as buying is considered. In such circumstances, there is no point of analysing option chain data. As for charts, Monday’s low (14191) was likely to provide support but as of now SGX Nifty is trading at 14066- much below that support, so expect gap down opening tomorrow. If by any miracle, Nifty rises above Tuesday’s close, I have market 2 resistances where you can Sell- it still is ‘sell on rise’ market so do not attempt to buy at so called ‘support’. There is no convincing support, frankly.
Disclaimer: I have sold both Call and Put options of tomorrow’s weekly expiry.