28/09/2022
* Today FIIs made short position in cash but made small long position in Index future worth of 104 Cr. Their net short position is still 73% which is lowest from June month.
* Today from morning dow future was trading negative around 250 points but later after our market closing dow future recovered agressively and now dow jones trading around 500 points in green.
* It was a very volatile session in Indian market too. After gapdown opening banknifty tried to recover multiple times but failed and closed at lower level. There is huge short position in banknifty and a single positive news can trigger banknifty for a shortcovering.
* India VIX is at 22 and this 22 VIX is really not good for option sellers.
* News that can impact market-
US GDP Q2- Gross Domestic Product (GDP) measures the annualised change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
* What to do for tomorrow-- If we consider Sgx nifty and Dow jones then it's high probability that banknifty can open gapup tomorrow. Opening above 38000 can trigger for a shortcovering. Make long position above 38050 for 38400/38800 with stoploss of 37700.
