Nifty:21778.7/123.95/0.57%;Candle:OGU,Short day green; Bank Nifty:48508.55/226.35/0.47% Candle:OGU,Doji ; HB:OGU,Doji,1709,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long70%FutCash;4359;Opt98%
OI data Nifty ( max pain W21700M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Market wrap up(DWM,T,N,E):The market hit a fresh record high on December 28, the expiry day for December futures & options contracts, and continued uptrend for five days in a row with strong volumes. Hence, experts expect the ongoing momentum, especially seen after the recent consolidation breakout, to sustain in the coming days with the Nifty 50 aiming for the psychological 22,000 mark, while the 21,700-21,500 may act as a support zone at the beginning of the January series. In addition, the index continued higher highs, and higher lows formation four days in a row with the gap up opening in the last two trading days, while the momentum indicator, RSI (relative strength index) and MACD (moving average convergence divergence) maintained positive bias. On December 28, the BSE Sensex jumped 372 points to 72,410, while the Nifty 50 rose 124 points to 21,779 and formed a bullish candlestick pattern on the daily scale, indicating an uptrend continuation pattern. “Positive chart patterns like higher tops and bottoms continued on the Nifty as per the daily timeframe chart. Though Nifty placed at all-time highs, still there is no indication of any higher top reversal forming at the new highs,” having moved above the initial hurdle of 21,650 levels, the Nifty is expected to advance towards the next overhead resistance of 22,200 levels in the near term, which is near the 100 percent Fibonacci extension of major bottom-top-bottoms. Immediate support is at 21,550 levels, 21,900 – 22,000 is the immediate hurdle whereas the immediate support shifted higher towards Thursday’s bullish gap around 21,675, and 21,500 – 21,480 is seen as a strong support zone. Meanwhile, considering around 3,000 points (14 percent) move in just two months, traders should secure some profit at higher levels and end the year on a positive note, Rajesh advised. The broader markets also performed in line with benchmarks as the Nifty Midcap 100 and Smallcap 100 indices gained 0.6 percent and 0.8 percent respectively, while the India VIX retreated a bit after a sharp jump in the previous two days, falling 2.7 percent to the 15.14 levels, giving some comfort for bulls.
Nifty:21654.75/213.4/1.00%;Candle:OGU,Long day green; Bank Nifty:48282.2/557.35/1.17% Candle:OF,Long day green ; HB:OF,Long day green,1704
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long63%FutCash;2926;Opt97%
OI data Nifty ( max pain W21500M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained National Aluminium Company, and RBL Bank to its F&O ban list for December 28. Balrampur Chini Mills, Delta Corp and Hindustan Copper were removed from the list.
Market wrap up(DWM,T,N,E):The market is expected to maintain its bullish run given the significant consolidation breakout ahead of the monthly expiry of December derivative contracts on December 28. The Nifty 50 is likely to face immediate resistance at 21,700-21,800 levels, followed by the 22,000 mark, considering the higher highs, higher lows formation and positive momentum indicators, while the 21,500, which acted as a resistance, is expected to be support for the index, experts said. On December 27, the benchmark indices ended at fresh record closing highs. The BSE Sensex climbed above the 72,000 mark for the first time, rising 702 points to 72,038, while the Nifty 50 surged 214 points to 21,655 and formed a long bullish candlestick pattern on the daily timeframe. Technically, this pattern indicates an upside breakout of the previous swing high at 21,593 levels. “Positive chart patterns like higher tops and bottoms are intact as per the daily chart and currently, the Nifty is moving towards the new higher top formation. Still, there is no confirmation of any higher top reversal at the highs,” Having breached above the immediate resistance of 21,550-21,600 levels, there is a possibility of more upside in the short term, he feels. “The next upside targets to be watched around 22,000-22,200 levels in the next week. Immediate support is placed at 21,300 levels,” Given the upcoming session is a monthly expiry and holds significant importance from the calendar year-end point, Rajesh Bhosale, technical analyst at Angel One expects potential price settlements and increased volatility. Traders can view this as an opportunity and explore trending trading opportunities, he advised. Meanwhile, the volatility jumped to the highest level since March 20 this year, which experts feel may make the trend unfavourable for bulls. The India VIX rose 6 percent to 15.56 levels.
Nifty:21441.35/91.95/0.43%;Candle:OF,Short day green; Bank Nifty:47724.85/233/0.49% Candle:OF,Doji ; HB:OF,Short day green,1683,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long64%FutCash;-95;Opt100%
OI data Nifty ( max pain W21350M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added RBL Bank to its F&O ban list for December 27, while retaining Balrampur Chini Mills, Delta Corp, Hindustan Copper, and National Aluminium Company on the list. Ashok Leyland, India Cements, and SAIL were removed from the list.
Market wrap up(DWM,T,N,E):The market is expected to remain rangebound with a positive bias with the Nifty 50 facing hurdle at 21,500-21,600 on the higher side, and taking support at 21,200-21,000 levels in coming sessions, while the volume is expected to be low given the holiday period, experts said. The benchmark indices continued their upward momentum for three days in a row. On December 26, the BSE Sensex climbed 230 points to 71,337, while the Nifty 50 was up 92 points at 21,441 and formed a bullish candlestick pattern on the daily charts with higher highs and higher low formation for yet another session. Overall, the Nifty has now retraced a good portion of the significant losses seen last Wednesday (December 20). “The Nifty would need to cross the recent highs of 21,593 to reverse the current downtrend. Crucial supports to watch for re-emergence of weakness are at 21,329-21,232,” “As we approach the close across various time-frames, the prevailing sentiment is optimistic,” he said, adding, however, considering the smaller size of the recent candles compared to the significant bearish one from last Wednesday, some caution is advised. The next few sessions could be crucial, especially with the year-end approaching, and it might be prudent for investors to secure timely profits before the start of the new calendar year, he advised. The India VIX, known as the fear indicator, rose 7.08 percent to 14.68, giving some discomfort to the bulls.
Nifty:21349.4/94.35/0.44%;Candle:OGU,Doji; Bank Nifty:47491.85/-348/-0.73% Candle:OF,Short day red, ; HB:OF,Short day red,1667,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long65%FutCash;-2829;Opt96%
OI data Nifty ( max pain W21250M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added National Aluminium Company to its F&O ban list for December 26, while retaining Ashok Leyland, Balrampur Chini Mills, Delta Corp, Hindustan Copper, India Cements, and SAIL in the list. Manappuram Finance, and RBL Bank were removed from the list.
Market wrap up(DWM,T,N,E):The market is expected to be rangebound in the last week of the current calendar year with Nifty 50 facing resistance in the zone of 21,500-21,600, and taking immediate support at 21,300-21,200 levels. Clearance of 21,600 decisively can take the index towards 21,800 levels, while the breaking of the said support can drag it towards 21,000 levels, experts said. On December 22, the benchmark indices extended gains for second consecutive session after sharp fall in middle of the week. The BSE Sensex rallied 242 points to 71,107, while the Nifty 50 jumped 94 points to 21,349 and formed bullish candlestick pattern on the daily charts with slightly better volumes than previous day. The higher high, higher low formation was also seen. “On the daily chart, the Nifty has retraced a good portion of the losses seen on Wednesday. Nifty would need to cross the recent highs of 21,593 to reverse the current downtrend. Crucial supports to watch for re-emergence of weakness are at 21,232,” “Sustaining above 21,300 could pave the way for further upside momentum, targeting the 21,500 levels.” The broader markets also traded higher with the Nifty Midcap 100 and Smallcap 100 indices rising 0.7 percent and 1 percent respectively.
Nifty:21255.05/104.9/0.5%;Candle:OGD,Long day green; Bank Nifty:47840.15/394.85/0.83% Candle:OGD,Long day green ; HB:OGD,Long day green,1687,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long67%FutCash;-1636;Opt97%
OI data Nifty ( max pain W21100M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:The NSE has added Hindustan Copper to its F&O ban list for December 22, while retaining Ashok Leyland, Balrampur Chini Mills, Delta Corp, India Cements, Manappuram Finance, RBL Bank and SAIL in the list. Indus Towers, National Aluminium Company and Piramal Enterprises were removed from the list.
The NSE has added Hindustan Copper to its F&O ban list for December 22, while retaining Ashok Leyland, Balrampur Chini Mills, Delta Corp, India Cements, Manappuram Finance, RBL Bank and SAIL in the list. Indus Towers, National Aluminium Company and Piramal Enterprises were removed from the list.
Market wrap up(DWM,T,N,E):The market rebounded smartly and held on to the psychological 21,000 mark at close on December 21. Going ahead, the current ongoing consolidation is expected to continue with near-term support at around 21,000, if the index closes below the same then a sharp correction can be seen, while on the higher side, 21,593 — the record high — is likely to be a key hurdle as the decisive crossing of the same can start another leg of the rally, On December 21, the BSE Sensex climbed 359 points to 70,865, while the Nifty 50 rose 105 points to 21,255 and formed a bullish candlestick pattern on the daily charts, though there was a lower high, lower low formation. “On the daily chart, while the Nifty has bounced back sharply and retraced some of the losses seen in the previous session, the short-term trend remains down,” Momentum readings like the 14-day RSI (relative strength index), too, remain in decline mode and declining sharply from overbought levels on December 20. This is a negative signal for the near term, and it also implies that the Nifty remains in a short-term downtrend, the Nifty would need to cross the recent high of 21,593 to reverse the current downtrend. “Crucial supports to watch for re-emergence of weakness are at 20,976,” The overall market breadth remained strong and indicates a firm market, as three shares advanced for every share falling on the NSE. “But Nifty still needs to surpass key levels for a continuation of the momentum. The immediate support for Nifty is placed around 21,000-20,950, while resistances are seen around 21,360 followed by the 21,500-21,600 zone,” The broader markets have also seen a rebound after a more than 3 percent correction in the previous session. The Nifty Midcap 100 and Smallcap 100 indices gained 1.7 percent
Nifty:21150.15/-302.95/-1.41%;Candle:OGU,Long day red; Bank Nifty:47445.3/-425.6/-0.89% Candle:OGU,Long day red, ; HB:OGU,Long day red,1657,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long65%FutCash;-1322;Opt96%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Ashok Leyland, and India Cements to its F&O ban list for December 21, while retaining Balrampur Chini Mills, Delta Corp, Indus Towers, Manappuram Finance, National Aluminium Company, Piramal Enterprises, RBL Bank, and SAIL in the list. Zee Entertainment Enterprises and IRCTC were removed from the said list.
Market wrap up(DWM,T,N,E):The market finally caught into the much-awaited major profit booking and lost more than 400 points from its record high touched in the morning session on December 20 despite the positive mood at global counterparts. The Nifty50 is likely to take support at around the psychological 21,000 mark in the profit booking, and 20,800 is expected to be a crucial support area, whereas it may face resistance at the 21,200-21,400 zone and 21,600 seems to be the top for the time being, expert said, adding overall, the market sentiment is still positive and remained consolidative unless it decisively breaks 20-day EMA (exponential moving average which is nearly 400 points away from Wednesday’s closing). On December 20, the BSE Sensex fell 931 points or 1.3 percent to 70,506, while the Nifty50 tanked 303 points or 1.4 percent and formed a large bearish candlestick pattern on the daily charts, in fact engulfing all the previous three candles. “Momentum readings like the 14-day RSI (relative strength index) too have declined sharply from overbought levels indicating a loss of momentum. This is a negative signal for the near term and it also implies that the Nifty has now entered into a short-term downtrend,” the Nifty could play down towards the next major supports at the 21,026-20,769 level in the coming sessions. Any pullback rallies could find resistance at 21,325, The broader markets hit badly with negative breadth. The Nifty Midcap 100 and Smallcap 100 indices corrected 3.3 percent and 3.6 percent, respectively. The fear index, India VIX also jumped further, rising 4.20 percent to 14.45, from 13.87 levels, which made the bulls uncomfortable at higher levels.
Nifty:21453.1/34.45/0.16%;Candle:OF,Doji; Bank Nifty:47870.9/3.2/0.01% Candle:OF,Doji ; HB:OF,Doji,1651,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long62%FutCash;-601;Opt96%
OI data Nifty ( max pain W21400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Delta Corp, Indus Towers, IRCTC, Piramal Enterprises, and RBL Bank, to its F&O ban list for December 20, while retaining Balrampur Chini Mills, Manappuram Finance, National Aluminium Company, SAIL and Zee Entertainment Enterprises in the said list. Hindustan Copper and India Cements were removed from the said list.
Market wrap up(DWM,T,N,E):The Nifty 50 surpassed the much-awaited 21,500 mark for the first time on December 19, but could not sustain above the same. This is expected to remain as a key resistance area for the index going forward as sustaining above the same can be a start for another leg of upward momentum in coming sessions, below the same consolidation can be seen and 22,300-22,200 can remain good support for the index, experts said. On December 19, the rebound in the afternoon after correction in the morning session helped the market close moderately higher. The BSE Sensex rose 122 points to 71,437, while the Nifty 50 advanced 34 points to 21,453 and formed a small-bodied Bearish candlestick pattern with a long lower shadow on the daily charts, indicating the support is being held and the buying interest at lower levels. “Nifty continues to remain in a bullish trend and holding longs with trailing stop loss is the ideal strategy,” feels 5-day EMA (exponential moving average) is placed near 21,300 and the same is expected to act as a support going forward.Resistance for the Nifty is expected in the zone of 21,500-21,600, where Calls are written on the derivative side, he said. the bullish trend is expected to persist as long as the index stays above 21,350 consistently, which has been held in the recent past. On the upper side, “definitive breakthrough above 21,500 could potentially initiate a substantial market rally; until then, consolidation appears probable,” However, the Nifty Midcap 100 and Smallcap 100 indices witnessed profit booking at higher levels, falling 0.38 percent and 0.12 percent, respectively.
Nifty:21418.65/38/0.18%;Candle:OF,Doji; Bank Nifty:47867.7/275.85/0.57% Candle:OGD,Doji ; HB:OF,Doji,1657,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long60%FutCash;-32;Opt97%
OI data Nifty ( max pain W21400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added National Aluminium Company to its F&O ban list for December 19, while retaining Balrampur Chini Mills, Hindustan Copper, India Cements, Manappuram Finance, SAIL and Zee Entertainment Enterprises in the said list. Delta Corp was removed from the list.
Market wrap up(DWM,T,N,E):After a sharp rally in the previous couple of sessions, it was a lacklustre trade for the market on December 18 and there was a Doji kind of candlestick pattern formation. However, the index being near its record high and maintaining its previous day’s closing low, it seems that the momentum still lies with the bulls. Hence, experts see some more consolidation in the coming days, before the market gets into a strong mood with the resistance at 21,500 and support at 21,200 levels. On December 18, the benchmark indices retreated a bit with the BSE Sensex falling 169 points to 71,315, while the Nifty50 declining 38 points to 21,419. “The lack of conviction was evident on the daily chart, displaying a classical Doji formation. Despite this, the overall tone remains bullish, with no apparent signs of weakness,” Nevertheless, caution is warranted as prices approach a key resistance zone marked by indicators in high overbought territory, he said, adding the resistance zone lies in the range of 21,500 to 21,600, representing the 200 percent reciprocal retracement of the October month’s price fall. Technically, this level also signifies the near-term target. traders to refrain from complacent long bets and should consider timely profit-taking at higher levels. The strong support is identified in the zone of the bullish gap, around 21,200 to 21,300 levels. The India VIX, the fear index jumped to the highest level in the current financial year, making the bulls a bit uncomfortable. The VIX rose by 5.88 percent to 13.90 levels.
Nifty:21456.65/273.95/1.29%;Candle:OGU,Long day green; Bank Nifty:48143.55/411.25/0.86% Candle:OGU,Short day green ; HB:OF,Short day greenk,OF,Short day green
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long60%FutCash;9239;Opt97%
OI data Nifty ( max pain W21350M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Balrampur Chini Mills, Delta Corp, Hindustan Copper, India Cements, Manappuram Finance, SAIL and Zee Entertainment Enterprises to its F&O ban list for December 18. Indiabulls Housing Finance was removed from the said list.
Market wrap up(DWM,T,N,E):After recent consolidation, the bulls seem to have gained solid strength as the market recorded sharp upmove for second consecutive session and moved closer to 21,500 mark on December 15. The momentum indicator RSI (relative strength index) also showed positive bias, but reached to overbought stage (at 84.92, the highest levels since September 2021) and the PCR (Put-Call ratio) also jumped to 1.47 levels, hence, some kind of consolidation can’t be ruled out in coming days with immediate support at 21,300-21,200 zone, before getting back to the new upward journey above 21,500 mark, experts said. On December 15, the BSE Sensex surged 970 points to 71,484, while the Nifty50 rose 274 points to 21,457 and formed long bullish candlestick pattern on the daily timeframe. “Technically, with the Nifty surging higher to new life highs, the bulls remain in control. Further upsides are likely once the immediate resistance of 21,492 is taken out,” He feels the caution is however warranted for the near term as the 14-day RSI at 84.92 is in overbought territory, but 14-week RSI at 75.87 implies that it is not extremely overbought and there is scope for more upsides in the intermediate term. Thus, any short-term corrections can be utilized to buy into quality stocks, he advised. Crucial supports to watch for weakness are at 21,319-21,235, For the coming sessions, Jigar S Patel, senior manager – equity research at Anand Rathi also expects some consolidation from 21,500 levels. “A move above the same might extend the rally towards 21,800. On the data front, Nifty PCR is above 1.45, and this might result in some consolidation,” he said. The broader markets gained but underperformed benchmark indices. The Nifty Midcap 100 index was up 0.11 percent and Smallcap 100 index gained 0.7 percent, while the India VIX, the fear index jumped above 13 mark, rising 6.55 percent to 13.13 levels, which is a bit of concern for bulls.
Nifty:21182.7/256.35/1.23%;Candle:OGU,Doji; Bank Nifty:47732.3/640.05/1.36% Candle:OGU,Doji ; HB:OGU,`1652,Doji
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long57%FutCash;3570;Opt97%
OI data Nifty ( max pain W21150M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Manappuram Finance and SAIL to its F&O ban list for December 15, while retaining Balrampur Chini Mills, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, India Cements, and Zee Entertainment Enterprises to the said list. National Aluminium Company was removed from the said list.
Market wrap up(DWM,T,N,E):he market made a remarkable journey on December 14, coming back strongly after six-day consolidation and climbed to a new high on the benchmark indices as well as Bank Nifty. Given the strong momentum and holding 20,850 as a strong support in the past six days on closing basis, the Nifty50 is likely march towards 21,400-21,500 levels in coming sessions with sector rotation support, experts said. On December 14, the BSE Sensex hit 70,500 levels for the first time, rising 930 points to 70,514 after dovish commentary by the Federal Chair Jerome Powell, while the Nifty 50 hit a new high of 21,211 and closed at new all-time high of 21,183, up 256 points. The index has formed bullish candlestick pattern on the daily charts, after strong gap up opening. On December 14, the BSE Sensex hit 70,500 levels for the first time, rising 930 points to 70,514 after dovish commentary by the Federal Chair Jerome Powell, while the Nifty 50 hit a new high of 21,211 and closed at new all-time high of 21,183, up 256 points. The index has formed bullish candlestick pattern on the daily charts, after strong gap up opening. After the formation of long legged Doji type candle pattern on Wednesday, the market seems to have witnessed a decisive upside breakout on Thursday. The significant opening upside gap of recent session remains intact. If Thursday’s upside gap doesn’t get filled in the next 2-3 sessions, then one may presume Nifty in a middle of a sharp uptrend,” Normally, such unfilled crucial upside gaps middle of uptrend are considered as a bullish runaway gaps. He believes there is a possibility of Nifty reaching towards the important resistance of 21,550 levels-78.6 percent Fibonacci extension (taken from March bottom, September top and October bottom) in the coming week. “Immediate support is placed at 21,050 levels. Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas, also feels the momentum setup also suggests continuation of the current upmove. Thus, both price and momentum are suggesting continuation of the current upmove, The broader markets continued northward journey with the Nifty Midcap 100 and Smallcap 100 indices rising 1.3 percent and 0.9 percent. respectively. The broader markets continued northward journey with the Nifty Midcap 100 and Smallcap 100 indices rising 1.3 percent and 0.9 percent. respectively.
