Good Morning
The Expiry Day
Since Last 2 days we told that Nifty need to cross & hold above 10815/20 for further rally this view is still intact. Intra-day HDFC Bank & 100 point downfall we captured.
For today BNF in Focus & Banking Stocks in watchlist. The downfall used by FII for Longs & Pros Unwind Sold Put to pull the index down and added Call Shorts.
FII was the net sellers in CM in derivatives FII added 11.5k Index Long & Covered 2.8k Shorts, in stock futures 10k Shorts, in Options 5k call Long with 14k Put Shorts and 21k out long with covered 3k call shorts suggest expiry volatility.
Pros booked profits in Index But in Options pros covered put long & put shorts, Huge call shorts 73k suggest that now 10800 will face resistance.
So today need to watch Index if yday low break then downfall. Watch OCA Buildups for today to get the Trend.