Nifty:21647.2/28.5/0.13%;Candle:OGU,Doji; Bank Nifty:47438.35/77.5/0.16% Candle:OGU,Doji ; HB:OGU,1649,Long day red,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long63%FutCash;m;Opt97%
OI data Nifty ( max pain W21650M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:HCL Technologies, Wipro, HDFC Life Insurance Company, Tata Metaliks, Anand Rathi Wealth, Artson Engineering, Bharat Bijlee, Aditya Birla Money, Den Networks, Just Dial, Harshil Agrotech, Hathway Bhawani Cabletel & Datacom, Hi-Tech Pipes, JTL Industries, LKP Finance, Mishka Exim, and Neueon Towers will be in focus ahead of quarterly earnings on January 12.
The NSE has added BHEL, Delta Corp, and Polycab India to its F&O ban list for January 12, while retaining Bandhan Bank, Escorts Kubota, Hindustan Copper, India Cements, Indus Towers, National Aluminium Company, Piramal Enterprises, PVR INOX, SAIL and Zee Entertainment Enterprises to the said list. Balrampur Chini Mills, Chambal Fertilisers & Chemicals, and Indian Energy Exchange removed from the said list.
Market wrap up(DWM,T,N,E):The Nifty 50 failed to climb above the downward sloping resistance trendline (around 21,725, the day’s high on January 11), though saw higher high, higher low formation. Hence, broadly, the index is likely to remain rangebound until it trades below 21,725-21,750 levels, with support at 21,500 mark and if it surpasses the said resistance then record high 21,834 can’t be ruled out, experts said. On January 11, the BSE Sensex advanced 63.5 points to 71,721, while the Nifty 50 was up 28.5 points at 21,647 and formed bearish candlestick pattern on the daily charts as the closing was lower than opening levels. “Technically, this pattern indicates a rangebound action in the market below the immediate resistance. The market is now placed at the hurdle of downsloping trendline, that connected recent lower highs at 21725 levels,” Nagaraj Shetti, senior technical research analyst, HDFC Securities said. Having showed a false downside breakout at 21,500 levels on Wednesday, the Nifty is expected to reach up to the upper trajectory of 21,750-21,850 levels in the near term, he feels. “A decisive move above the hurdle of 21,850 could open sharp upside momentum.” Immediate support is placed at 21,590 levels, he said. Kunal Shah, senior technical & derivative analyst, LKP Securities, also said that presently Nifty’s immediate support has shifted to 21,600, while 21,730 serves as a resistance level on the technical chart. “The broader positional support for Nifty remains at 21,500.” India VIX, the fear index, dropped further, by 1.07 percent to 12.77 levels, which made the bulls comfortable.
