- US stocks climbed on Friday as investors brushed off a stronger-than-expected inflation reading, as both the Dow and S&P 500 indexes clinched their first weekly gain in the past three weeks.
- Asian shares edged higher on Monday, looking to extend their recent rally to a third week should U.S. jobs figures show the expected revival in hiring in May and keep the global recovery on track
- SGX Nifty indicating a negative start with 44 points loss
- Nifty closed at all time high on Friday despite India VIX was lower significantly
- Therefore markets are not going to make bigger move in coming few days
- US markets are closed today
- Markets likely to consolidate
- Two surprises on Friday
- India Vix crashed to 17.4 Vix has been trading above 20 for the entire 2021
- Usually at all time high DIIs are net sellers but on Friday both DIIs and FIIs together bought 2000 cr
FIIs have still have 88% long in futures this doesn’t meant they have added but primarily because of shorts being covered
Huge OI added in 15,700 PE in weekly expiry
Markets likely to consolidate in coming few days even on Friday if you take out Relaince which contributed about 90 points in Nifty you will see markets were in consolidation mode