Hello Everyone,
Today, we’ll discuss into the day’s stock market activity, From economic data releases and corporate earnings reports to geopolitical developments and central bank actions, various elements shaped investor sentiment and market dynamics. We’ll examine sector performances and key events. Let’s explore the highlights and insights from Friday’s market action.
Today’s Market Insights 20 Feb 2024
VIX
Today VIX opened below at 14.2125 pts and started moving upward direction and closed at 16.070 pts. This indicates that market will move up, and fortunately it happened.
Upcoming Events
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Bank Nifty
Today nifty opened gap down with 46444 pts , today’s high is 47136.75 pts, todays low is 46367.80 pts and closed at 47094.19 pts.
Bank Nifty Chart
There was a huge resistance at 47000 pts but still it broke the resistance level, As you can see in the chart that SMA level of 5 days broke the SMA level of 20 days at 10 am.
Option Chain
PCR (Put-Call Ratio)
PCR is at 1.55. as the market is bullish. thus PCR is above 1.
Smart Money (FII/PRO/Client)
FII are bullish on futures and mild bearish on both call and put index option. PRO are medium bullish on both call and puts index options. Client are medium bearish on both calls and puts index options.
Option OI (Open Interest)
Here is Open Interest data which shows what happened in market today, it clearly indicated that today smart money sold more interested in writing puts than call. i.e. Today smart money write 44.9 L calls and 2.27Cr puts.
Verdict
Never short an all time high. Staying long is the same thing.