Nifty:19716.45/51.75/0.26%;Candle:OF,Doji; Bank Nifty:44588.3/-35.9/-0.08% Candle:OGD,Doji ; HB:OF,Doji,1526,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long45%FutCash;-354;Opt92%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Delta Corp and India Cements to its F&O ban list for September 28. Balrampur Chini Mills, Canara Bank, Hindustan Copper, and Indiabulls Housing Finance removed from the said list.
Market wrap up(DWM,T,N,E):The market recorded a strong rebound from its 50-day EMA (exponential moving average) placed at around 19,550 and formed a bullish candlestick pattern with a long lower shadow which resembles a Bullish Engulfing pattern formation at the downtrend on the daily timeframe on September 27, indicating sign of reversal. Hence, the Nifty50 may face a hurdle at 19,800-20,000 levels in coming sessions, with support at 19,600-19,500. The BSE Sensex climbed 173 points to 66,119, while the Nifty50 was up 52 points at 19,716, after consolidation in the previous two sessions, ahead of the monthly F&O expiry on September 28. “Technically, Wednesday’s market action is indicating the formation of a Bullish engulfing pattern. Normally such patterns after a reasonable decline or near the supports signal chances of upside bounce in the underlying post confirmation,” After the rangebound movement in the last few sessions, the market showed a false downside breakout of the range in the early part of Wednesday before witnessing a sharp intraday upside bounce. Hence, there is a higher possibility of upside breakout of the narrow range at 19,750 levels, according to Shetti. a follow-through upmove could confirm a short-term higher bottom reversal pattern. “Immediate support is placed around 19,600-19,550 levels and a decisive move above the hurdle of 19,750 levels could pull the Nifty towards 19,950-20,000 levels.” The broader markets also traded higher though the breadth was not strong enough. The Nifty Midcap 100 index jumped 0.75 percent and Smallcap 100 index gained nearly 1 percent.
