The standout piece of evidence in yesterday trading is the shift of the short Put position upward- from 25000 to 25200 in NF and 56000 to 56500 in BNF. This is clear evidence that the view continues to remain bullish and the sentiment is improving further towards the bullish side. The fact that the market has made it thru some 300-point jugglery across successive days and still made it higher will have much to do with it. In this week so far, both indices have managed to maintain an upward slant, giving credence to the buy-dip sentiment. PCR is near neutral and the IV has been dropping. The premiums on options are in balance, with call premiums indicating a continued bias towards bullish. That is visible in the data in the form of additions in future OI in the indices. But the missing data here is still the absence of any short covering in FII index short positions. And they have been sellers in equity for the last 3 sessions as well.

Despite some seeming provocation with that hit on Qatar US assets, the market seems unfazed and the Gift NF is up in the morning so a nice gap up is on the cards. Iran has made conciliatory moves and Brent dropped sharply to break below $70 levels and this has prompted the rally. The reversal from the highs near 80 looks quite decisive and now we can see Brent head down to the $64-65 levels.

Retail is focused on crossings of the Rubicon at 25100/56200. DIIs are using the extra cash they have to buy the block deal dumpings that are going on. FIIs are blowing hot and cold between equities and futures. Iran is invaded but is making noises and no concrete action seen as yet. Brent leapt last night but is now peeling off a bit. Below $74, the urgency may ease off. Breadth, which began negative, is now switched to gainers dominating. Small and Midcap is rallying, so Fomo is still one of the driving forces since there is no newsflow around to propl them up. Bank Nifty makes up good ground lost in the morning. Nifty is holding on. In Neotrader, list of stocks under WellSet Bull increases as the day improves while concomitantly, Wellset Bear list is diminishing. That is a positive. No of stocks with bigger gains are spotted on the Heatmap compared to losers. Stocks like KEI and Poonawala chalk up high Camarilla Pivot scores for the day. Havells, Nykaa, JSL and BEL are among the others. These are candidates for bulls, if they had kept track of the Cam Pivots page since the morning. But equally there are some big losers too like LT, United Spir and those are for those wanting shorts.