Nifty:19306.05/40.25/0.21%;Candle:OF,Doji; Bank Nifty:44494.65/263.2/0.6% Candle:OF,Short day green ; HB:OF,Short day green,1578,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long43%FutCash;-1393;Opt93%
OI data Nifty ( max pain W19300M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Indiabulls Housing Finance to its F&O ban list for August 29, while retaining BHEL, Escorts Kubota, GMR Airports Infrastructure, Hindustan Copper, India Cements, Manappuram Finance, RBL Bank, and Sun TV Network in the list.
Market wrap up(DWM,T,N,E):We have seen a healthy rebound amid consolidation on August 28 after two days of correction, but experts are not convinced by the bounce back, though it is on expected lines suggested by the Inverted Hammer kind of pattern formation on the weekly charts. They expect the rangebound trade to continue unless the Nifty50 breaches 19,400 on the higher side which can take the index up to the 19,600 hurdle, whereas the 19,200-19,300 range is expected to be a support area in the near term. The BSE Sensex jumped 110 points to 64,997, while the Nifty50 rose 40 points to 19,306 and formed a Doji kind of pattern on the daily charts after bearish candlestick pattern formation in the previous session, indicating the possibility of rangebound trade in the coming days. “The Nifty has taken support from 19,260 four times in the last 10 trading sessions, making it a strong support for the index. The index managed to hold above the 50-day exponential moving average (DEMA) of 19,286, after closing below the same in the previous trading session,” a breakdown below 19,260 will lead to the initiation of fresh shorts which can take the index to 19,000. However, for the momentum to pick up on the upside, the Nifty needs to break the 19,500 barrier, which is the level where maximum Call open interest is placed, The broader markets fared better than benchmarks on positive breadth. The Nifty Midcap 100 and Smallcap 100 indices gained half a percent and seven-tenth of a percent respectively, while the volatility jumped to a three-month high. India VIX, the fear index rose 2.6 percent to 12.40 levels, which is a bit for bears.
