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)
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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.
