July 15/25
Global Dow closed +227 points (0.8%) yesterday. HongKong, China, Japan markets are down by 1% Dow Futures are down by 100 points. DAX, FTSE are also down by 0.5% or so. SGX is in red with 25 odd points. Option chain Max pain for Nifty is 10700 with total premium at 115. So range being 10585 to 10815. But we are currently at 10600 with premium 106. So range being 10494 to 10706. Nifty Bank max pain at 21500. Range being 21097 to 21903. But we are at 21300 thus, range being 20918 to 21682. FnO Data FIIs have covered Index Fut shorts and have added some longs. The number of longs is fewer than the shorts that were being added since last few days. Charts & technicals On the daily timeframe, Nifty has support of 20DMA at 10508 Nifty Bank has broken 20 DMA which is at 21842. 50 DMA is at 20414. Plan for today The premiums are interestingly a little higher, I feel. In the opening whichever side has no or lesser decay could be the opening trade. Going long at the lows with 20000 as the sto...