Good Morning
Yday breakdown due to Banknifty which was warn in morning massage, FII liquidate their Long positions in both Index Stocks with new Short addition but now global setup is look good & SGX is shown Gap Up. To match with global will FII covered their shorts ? & For that a first dip may bought. Reliance AGM is trigger for Trend, if no great news then fall will continued so cautions on positions. Again our 10710 will be SL & above 10750 will small trade on long side.
FII was a net sellers of 1.5k Cr. In Derivatives FII covered 1.2k index Long & added 20k (🤔) Shorts, in Stock futures covered 19k Longs & added 1.8k shorts, Options setups also not good added 12.8k Call Long with 1k put writing (😠) and 8.3k Put Long with 21k Call Short suggest that 10700 will be act as resistance.
PROs covered 3.7k index Long & 10k Shorts, in options huge 95k call shorts with 20k Put covered and 16k Call Long with 13k Short Put Covered suggest upside will act as strong resistance.
Index above Levels will in trade.