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 21 Feb 2024
VIX
Today VIX opened below at 16.075 pts and started moving upward direction and closed at 15.9200 pts. This indicates that market will move up, and fortunately it happened.
Upcoming Events
FOMC Minutes are on Thursday 22nd feb at 12:30 am.
Bank Nifty
Today Bank Nifty opened gap up with 47289 pts , today’s high is 47359 pts, todays low is 46925 pts and closed at 47019 pts.
Bank Nifty Chart
There was a huge resistance at 47300 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.
PCR (Put-Call Ratio)
PCR is at 1.10. as the market is bullish. thus PCR is above 1.
Smart Money (FII/PRO/Client)
FII are medium bullish on futures and mild bullish on call and mild bearish on put index option. PRO are medium bearish on call and strong bearish on puts index options. Client are medium bullish on futures and strong bullish on 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 54.8 L calls and 42 L puts. There is huge support at 45000 pts and resistance at 47500 pts.
Verdict
Tomorrow market might open below today’s close. Never short ATH. Buy on the dips is the only game till a reversal signal comes.
Bonus
This data only shows about what happened today and what might happen at tomorrow’s open. you cannot take a guess on what will happen tomorrow. We are going to come with our own insights on live market very soon. so all of you can do your own analysis on live market.
