Zubu Client Sentiment Nifty50 Report (Sep-14-2020)

Zubu Client Sentiment Nifty50 Report:

It is a Post Market Analysis, by which one can understand Retail trader’s sentiment and discover who was going long and short, the percentage change over time, and whether market signals are bullish or bearish.

Nifty50:

Retail trader data shows 54.25% of traders are net-long ,while the number of retail traders net-short was 45.75%.

FII’s unwind-ed very low longs -77 & created huge shorts 10903, while retailers created huge longs 10809 & shorts 7737.

• September expiry range is 11250 -12050
• Medium term trend – Till Nifty is holding above 11086 on weekly basis we can stay long on Nifty

As Institutions are creating huge shorts since last two trading sessions we might test 11250 range once again if this situations continues for few more sessions.

Other important updates:

Banking Regulation Amendment Bill introduced in LS; Opposition says ‘encroaching rights of states’
·   Government on Monday introduced in Lok Sabha the Banking Regulation (Amendment) Bill, which seeks to bring cooperative banks on par with developments in the banking sector through their better management and proper regulation to protect the interests of depositors.

·   Opposition members, including Shashi Tharoor of the Congress and Saugata Roy of the Trinamool Congress, opposed the bill, accusing the Centre of encroaching on the rights of states.

·   Finance Minister Nirmala Sitharaman rejected the charge, asserting that state cooperative laws are not being touched and that the proposed law seeks to bring these banks with same regulations that are applicable on other banks.