Higher Opening On D-Street Today, Hints GIFT Nifty: Anuj Singhal With The Trade Set-Up | CNBC TV18

But it's Friday and lots has been happening in the markets, on the cricketing field and of course, you know so many things to watch out for. ANUJ is here to get us up to speed on everything. Anuj, good morning. Records galore for the Indian markets. How are you feeling about that and what's the order of the day looking like? Morning Sonia, You know what the market all through this week gave you nice opportunities to buy intraday dips. 1st 15 minutes, the low of the day was made. I think now we are starting at a point where the risk reward is extremely unfavorable. I just present this table. You know, we revisited this yesterday also. Every day the low has been made in the 1st 15 minutes and the market has been closing almost 200 points higher than that. The problem is that now. Yesterday's low at 23805, if that's is your trading stop in that case, if after today's gap up we open at 24150, that's three fifty points survey. So technically the nifty can go to 23900 and still be in an uptrend, still make a higher low. That's the problem for the market. Also if you look at the FNO data, the rollover of 76% this time around, which is the highest that we have seen and I think the FIA long exposure, we started June series with 13% long position and we had the biggest, you know ever rally. And we're starting July series with 82% long positions from FIS, 3.19 lakh long contracts. I mean if everyone's buying who's selling its just corporates, right. And that's why you're seeing so many block deals, almost three or four block deals every day put cold ratio at 1.49 versus 1.31. Again an indication that this is now an extremely elevated and overheated market and you do not know where a trigger would come from. But normally when the markets this elevated, normally the trigger comes from somewhere coming to levels. Then on the Nifty, the first resistance is 24150 to 24200 based on weekly options and then 24400 to 24500 based on monthly options. The support comes in at 23800 to 23850 yesterday's low and weekly options based and then 23650 to 23750 on the monthly options. I leave you with quote of the day and this one is of course from the legend, my all time favorite Mohammed Ali. Once again, and this is an interesting one, people run in packs because they do not feel safe alone. Iron alone because I do not feel safe in packs. All right well legend indeed Anush, thanks very much for.