Book Profit In Short Position As FII & PRO Yesterday Bought 83000 Contracts In Index Option

Stock Market Today by Shailesh Saraf – 20th May 2020

It is advised to book profit in short position as FII & PRO yesterday bought 83000 contracts. In the current expiry, FII and PRO have taken a short position of 247931 contracts, leading the market to enter into the Fear zone. However, yesterday they have bought more than 83000 contracts in May expiry. It’s time to book profit from short position. Also because of huge short position, markets were not going up but from last four days US Markets are moving up and India’s markets are going down. If it gives breakout then its good time to exit from short position and book profit.

Nifty Open Interest is the best way to understand the trend of the market. FII and PRO have made a net sell position of 247931 contracts as on 18th May and in the current expiry, which started on 30th April with a net sell position of (-10217). However, yesterday they bought 83756 contracts. Thus, they have reduced the short position and currently the net short position stands at 164175 contracts.

Yesterday, Nifty made a high of 9030 and made a low of 8855 and finally settled at 8879. Yesterday, Index traded range bound. The country enters into its fourth phase of lockdown. This will remain in force till May 31 as the total number of confirmed coronavirus cases in India have crossed more than 1 lakh, while the death toll has crossed more than 3,000-mark. Globally, 48.98 lakh people have been infected by Covid-19 so far, and the death toll from the disease stands at 3.24 lakh, according to the Worldometer.

As of now in the current scenario, one can bet on sectors like Pharma, FMCG and Fertilizer for a short term trade. It is estimated that Pharma might be one of the sectors along with telecom which will be benefitted out of the effects of health crisis and Quarantine. One can also invest in Pharmaceutical Mutual Funds, Fixed Deposits, Government Securities and Dynamic Bond Funds.

The US Index, S&P500 yesterday opened at 2945 and made a high of 2976 and currently trading at 2940. Japan Index, Nikkei made a high of 20678 and currently at 20668.

US Data

The US 10 Year T-Note is trading at 138.99. The Bond has crucial support at 117.42 made on 5th Nov 2018. The US Dollar Index is trading at 99.477.

Major Sector Performance as on 19th May 2020

Major Sector Performance as on 19th May 2020

Minor Sector Performance as on 19th May 2020

Minor Sector Performance as on 19th May 2020

Large Cap Gainers and Losers as on 19th May 2020

Large Cap Gainers and Losers as on 19th May 2020

Mid Cap Gainers and Losers as on 19th May 2020

Mid Cap Gainers and Losers as on 19th May 2020

Small Cap Gainers and Losers as on 19th May 2020

Small Cap Gainers and Losers as on 19th May 2020

Upcoming Results

Upcoming Results

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