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)
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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.
