Good Morning
Global Meltdown SGX showing Gap Down below 12k... Our clear view was no long below 12050 benifits us. Now we will wait for first one hour to settle the markets. If Nifty hold 12k after that then only take trade on Long side till the time Put play. FII was net buyers of 1500 Cr in cash Market. FII covered 6.6k Index Long and added 380 shorts, In Stock Futures added 2.6k Longs & covered 1.1k Shorts. Now One thing to watch that will FII covered their Index shorts in gap down ? If yes then small bounce till 12050 & if hold it then will go long. Nifty Max Pain at 12k & BNF Max Pain at 31k... Today need to watch OCA to see the build up at 11900 Put & 12k Call.
Options data will not taken due to expiry in last session.
Today will be Focus on stocks... ICICI Bank is our hot pick on Long side will take gap down to go long.