July 18/25

Global
  • Dow closed flat at 8 points yesterday. But Nasdaq closed up 2.5%
  • Asian markets are positive.
  • Dow Futures are flat. DAX, FTSE also similar.
  • SGX is in green with 100 odd points.
Option chain
  • ATM strike premium net is 190. So 10810 to 11190
  • PCR is 1.5 for this expiry which is on the higher side.
  • On Nifty Bank - max pain is at 22000. Net premium is 760. Thus 22760 being the upper end.
  • PCR is 0.94 for this expiry.
FnO Data
  • FIIs didn't unwind any long positions from the last day but have added net shorts. So they are probably hedged.

Charts & technicals
  • Nifty Bank had dropped below the rising wedge previously. The lower end of the wedge is now at 23080. If it reaches there, we can look at shorting.
Plan for today
  • If SGX is true - we are looking for a huge gapup. That doesn't help our case with risk-reward.
  • The simpler plan maybe is to go long above yesterday's high on Nifty Bank and,
  • go short if 22400 is not sustained.
  • If we can get a dip toward 22000 without breaking 22000 - we can go long for the whole series, I'd say.

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July 2/25

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July 6/25

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