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 of...