July 16/25
Global Dow closed red -135 points Markets world over are flat to positive 0.3%. SGX is in green with +70 odd points which is a little weird. Option chain Max pain at 10700. Total premium 247. So, the range becomes 10493 to 10987, calculated on the current closing of 10740 Max pain for Nifty Bank is 21500. Total premium 906. So the range is 20691 to 22503, calculated based on the closing of 21597. FnO Data FIIs have changed stance again. Exited longs and created shorts. From the net positions standpoints, FIIs put longs is the biggest figure. Keep that in mind. Charts & technicals On the daily timeframe, yesterday was a hammer candle formation. i.e. we opened higher, slipped down but recovered significantly. Nifty 20 DMA at 10541 for support. Nifty 200 DMA at 10872 for resistance. Nifty Bank 200 DMA at 21874. May act as resistance. 50 DMA at 20452. Will work as support - just noting it here for now. Plan for today It was an expiry day yesterday, so short-covering was likely. Thus, r...