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)
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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.
