July 25/25

Global
  • Dow closed +160 points (0.6%) yesterday.
  • HongKong is positive. China, Japan are down 0.3-0.6%
  • Dow Futures are flat. DAX, FTSE are also flat. Mild negative.
  • SGX is in green with 15 points.
Option chain
  • Max pain for Nifty is 11100 with a total premium of 152.
  • But Nifty is at 11200. The total premium there is 105.2
  • This is suggesting a broader range of 10948 to 11305.
  • We can assume 11100 to be saved. So, from 11100 to 11305.

  • Nifty Bank max pain at 22100. Total premium is 358.
  • Total premium at 22000 is 370.
  • So, broader range is 21630 to 22458.
  • If 21800 region is saved, we may see a bounce again - as per the 22100 max pain.
FnO Data
  • FIIs have added both longs and shorts in futures. They are looking to be going in hedged.
  • Pros have interestingly added huge longs and closed shorts in futures. 

Charts & technicals
  • On the daily timeframe, Nifty looked like breaking out of the trendline connecting life highs.
  • But has taken resistance there and gone down.
  • Moving averages are far off at 1860 region.

  • Nifty Bank has 20 DMA at 22234. 50 DMA is at 21102.
  • Nifty Bank is on daily trendline support.
Plan for today
  • Monthly expiry. It's going to be volatile.
  • Contra trades at support and resistance will help make money.
  • Keep watching out for OI buildup.
  • PCR for Nifty Bank is 0.6 - we can expect some short-covering.
  • Reliance has results today EOD - it may impact the performance of Nifty.
  • In the last hour - watch out futures price instead of spot.
  • There isn't a set plan as such - just looking for a contra trade at good levels.

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July 2/25

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July 6/25

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