Market Analysis of 14th September 2021 and Trade Recommendations
Views On Nifty & Bank Nifty: Nifty and Bank Nifty both had incredible run today backed by broad based buying. All most all the sectors had one way run today.IT stocks in fact had a field day and IT sector closed by 643.70 points.
Data Analysis: In the cash market trading data, we find that both FIIs & DIIs were net buyers. We can observe that FIIs have added to their positions in Index Futures and Index Calls and reduced their positions in Index Puts. This is overall a bearish outlook.
Looking at the Option Chain we find Call and Put Writing @ 17500 and @ 36900 in Nifty and Bank Nifty. These stand as current resistance in the above indices. With PCR > 1 and Option Pain @ 17400 expect the expiry near 17450 (Nifty) and PCR ~ 1 and Option Pain @ 36700 expected near 36800(BN)
Trade Recommendations for 13th -17th Sep. 2021:
1. Adani Transmission (1944.05): Bullish trend continues.
2. ICICI PRU LIFE INSURANCE (689.90): Bullish. Fresh Long can be taken once RSI > 60 on Daily Charts.
All Calls are for Short Term Trading and valid between 13th – 17th September 2021.
Data Analysis: In the cash market trading data, we find that both FIIs & DIIs were net buyers. We can observe that FIIs have added to their positions in Index Futures and Index Calls and reduced their positions in Index Puts. This is overall a bearish outlook.
Looking at the Option Chain we find Call and Put Writing @ 17500 and @ 36900 in Nifty and Bank Nifty. These stand as current resistance in the above indices. With PCR > 1 and Option Pain @ 17400 expect the expiry near 17450 (Nifty) and PCR ~ 1 and Option Pain @ 36700 expected near 36800(BN)
Trade Recommendations for 13th -17th Sep. 2021:
1. Adani Transmission (1944.05): Bullish trend continues.
2. ICICI PRU LIFE INSURANCE (689.90): Bullish. Fresh Long can be taken once RSI > 60 on Daily Charts.
All Calls are for Short Term Trading and valid between 13th – 17th September 2021.
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