- US markets fell sharply on Tuesday on back of Fears over Omicron & FED Chairman Jerome Powell’s indication that FED would discuss quicker than planned taper
- Asian markets currently trading mixed
- SGX Nifty indicating a gap-up of 80 points
- FIIs net sold shares worth Rs 5,445.25 crore while DIIs net bought shares worth Rs 5,350.23 crore
- FIIs sell big in cash but buy big in F&O FII long exposure now at 70% in Index futures
- FIIs have sold Rs 40,000 cr in November
- Big surge in India VIX in last fortnight, up from 15 to 21 as a result we are seeing 300-400 points daily move in Nifty
- For now now 16,782 Monday low is very key level to watch any break will lead to further downside
- Bank Nifty trading right at 200 DMA 35,707, today’s move very crucial
- Even after such huge falls OI data suggests 17,000 has highest put writing indicating some support around 17,000 levels
- Nifty PCR 1.14 and Bank Nifty PCR 0.94
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