Nifty:21513/-197.8/-0.91%;Candle:OP,Long day red; Bank Nifty:47450.25/-708.75/-1.47% Candle:OF,Long day red ; HB:OF,Long day red,1672.6
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long62%FutCash;16;Opt96%
OI data Nifty ( max pain W21550M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Bandhan Bank to its F&O ban list for January 9, while retaining Balrampur Chini Mills, Chambal Fertilisers & Chemicals, Delta Corp, Escorts Kubota, GNFC (Gujarat Narmada Valley Fertilisers & Chemicals), Hindustan Copper, Indian Energy Exchange, India Cements, National Aluminium Company, Piramal Enterprises, SAIL and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):The market fell nearly a percent and again reached the crucial support of the 21,500 mark while breaking the 10-day EMA (exponential moving average of 21,569) within a week. Overall, it still seems to be in the range of 21,500-21,850, but in case of breaking the said support, the 21,350-21,300 zone will be key to watch out for on the downside, while on the higher side, the 21,800-21,850 zone will remain a the hurdle, said experts. On January 8, the BSE Sensex plunged 671 points to 71,355, while the Nifty 50 dropped 198 points to 21,513 and formed a long bearish candlestick pattern, which resembles a Bearish Engulfing kind of candlestick pattern on the daily charts, indicating the possibility of a trend reversal. “The market reacting down sharply after a small rise is signalling a presence of strong overhead resistance around 21,750-21,800 levels,” The positive chart pattern like higher tops and bottoms is intact, but he feels the formation of a new lower top at 21,763 could be an alarming signal for bulls at the higher levels. “The next lower supports to be watched at 21,350 (20-day EMA). Immediate resistance is placed at 21,650 levels,” The support of 21,500 if held can see recovery towards 21,650 which is the immediate hurdle zone.” The volatility also increased sharply, making the bulls uncomfortable at Dalal Street. The India VIX jumped 7.06 percent to 13.46, from 12.63 levels. The broader markets were also under pressure with the Nifty Midcap 100 and Smallcap 100 indices falling 1 percent and 0.6 percent, respectively.
