Good Morning
Ydays Gap UP sold into & BNF pull the index down specially HDFC Bank, Only few stocks holding nifty. Global setups is also not very good. Yday our Logic was Failed but data was right. We are expecting short covering but again our 10815/20 was not hold on closing basis.
For today same levels to follow now below 10710 will the Trend Reversal and above 10850 will be further rally. BNF stock are on important Levels, need to reverse from here or breakdown in BNF.
FII was a net buyers in CM i.e. 221 Cr. In Derivatives FII covered 8k Index Long & 329 Shorts, in stock futures covered 12k Longs & 511 Shorts, in Options 16k Call Long with only 1k put short suggest no confidence. And 22k Call Short with 2k put long suggest resistance will work.
Pros added 8k Index Long & covered 1k Shorts, in options 90k (🥴) Call Short with 35k Put Long and 27k Call Long with 26k put short suggest expiry Bearish Setups. So need to watch OCA. Yday those follow OCA made a good Profits thanks to data.
Will wait today for clear direction