July 10/25

Global
  • Dow closed +160 points yesterday.
  • Asian markets are flat to positive.
  • Dow Futures are flat to negative. DAX, FTSE also similar.
  • SGX is in green with 40 odd points.
Option chain
  • There was unwinding on the PE options on all strikes below 10700.
  • There was writing on CE options on all strikes above 10650. But there was some unwinding at 10600 CE.
  • Max pain at 10700. Strike premium is 108. So the range is 10592 to 10808.

  • Nifty Bank option chain is interesting. There wasn't unwinding on the PE side as much as like Nifty.
  • It'll be interesting to watch.
  • Closest strike with equal OI at 22500. 427 premium. The range is 22073 to 22927.
FnO Data
  • Flat to negative opening. But overall bullish bias since FIIs have added quite decent longs in index futures.

Charts & technicals
  • On the daily timeframe, Nifty seems to have broken out of the rising wedge and is closing above it.
  • Nifty 200 DMA at 10886.
Plan for today
  • My idea is to buy on dips as close to 22000 as possible.
  • Modiji speaking somewhere at 1:30 PM today. So that's our trade at around 1 PM.
  • The idea today would be to be open on what the market gives or takes. And, not make matters worse.

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July 2/25

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July 6/25

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