Nifty:19396.45/2.85/0.01%;Candle:OF,Doji; Bank Nifty:43993.25/-8.75/-0.02% Candle:OF,Doji ; HB:OGU,Short day red, 1582,
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OI data Nifty ( max pain WM)
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News:
Events/Results:
The NSE has added BHEL and Escorts Kubota to its F&O ban list for August 23, while retaining Delta Corp, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, Metropolis Healthcare, Punjab National Bank, SAIL, and Zee Entertainment Enterprises in the list.
Market wrap up(DWM,T,N,E):The market closed flat after volatility during the day, and this was despite the rally in global peers on August 22. Broadly, the Nifty50 has been in the range of around 200-250 points since August 14 with resistance around 19,450-19,500 and crucial support at 19,300-19,250 area. Experts expect the benchmark index to remain within the said range and advised continuing with sell on rally as long as the index remains below the 19,500 mark. “Throughout the day, the Nifty index exhibited a distinct lack of movement, with traders uncertain about the market’s upcoming trajectory. Notably, there is a noticeable resistance observed at the 21-day exponential moving average (EMA placed at 19,474) on the chart’s upper spectrum,” As things stand, the market continues to favour a strategy of selling into rallies, maintaining this stance as long as it remains below the 19,500 mark,” The broader markets were fully backed by bulls, as the Nifty Midcap 100 index rose 1.1 percent and Smallcap 100 index gained 0.8 percent, while the breadth was positive with 3:2 ratio.
