Nifty:21571.95/-460.35/-2.09%;Candle:OGD,Short day red; Bank Nifty:46064.65/-2060.65/-4.27% Candle:OGD,Long day red ; HB:OGD,Long day red,1542,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long54%FutCash;-10578;Opt94%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:IndusInd Bank, 360 ONE WAM, Finolex Industries, Home First Finance Company India, IndiaMART InterMESH, Innova Captab, Jindal Stainless, Mastek, Metro Brands, Polycab India, Poonawalla Fincorp, Ramkrishna Forgings, Shoppers Stop, South Indian Bank, Supreme Petrochem, Sterling and Wilson Renewable Energy, and Tata Communications will be in focus ahead of quarterly earnings on January 18.
A total of 13 stocks are in the F&O ban list for January 18. The NSE has added Indian Energy Exchange and SAIL to the said list while retaining Aditya Birla Fashion & Retail, Ashok Leyland, Bandhan Bank, Chambal Fertilisers & Chemicals, Delta Corp, Hindustan Copper, Metropolis Healthcare, National Aluminium Company, Polycab India, PVR INOX, and Zee Entertainment Enterprises to the said list. Biocon, India Cements, Indus Towers, and Piramal Enterprises were removed from the said list.
Market wrap up(DWM,T,N,E):”The huge opening downside gap remains partially filled. Technically, Wednesday’s pattern indicates a significant reversal pattern on the downside and unfilled opening downside gap could be considered as a bearish breakaway gap. Normally, such bearish breakaway gaps are formed near important top reversals,” After a significant correction on January 17, experts expect the Nifty 50 to fall further in coming days and may take support at around 21,450, the low of current month. If the said level gets broken, then 21,000 can be a possibility, whereas on the higher side, 21,650 is expected to be an immediate resistance, followed by 21,750-21,850 area, experts said. Bears were in full action on January 17, pulling down the benchmark indices by more than two percent, the biggest single-day decline in last 19 months. Sharp sell-off in HDFC Bank post quarterly earnings and weak global cues weighed down on the sentiment. The BSE Sensex tanked 1,628 points or 2.23 percent to 71,501, while the Nifty 50 plunged 460 points to 21,572 and formed bearish candlestick pattern with long upper shadow on the daily charts. Hence, he feels the short-term trend of Nifty seems to have reversed down sharply. “There is a higher possibility of Nifty sliding further down to the next lower support of 21,000 levels in the near term. Immediate resistance for sell on rise is around 21,750-21,850 levels,”Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas, also feels both price and momentum indicators are pointing toward weakness. “The ideal strategy to trade this fall would be sell on rise near the resistance zone (21,800 – 21,820),” The broader markets also participated in the bear party, but the fall compared to benchmarks was less. The Nifty Midcap 100 and Smallcap 100 indices declined over a percent each, while market breadth was also in favour of bears as about three shares declined for every rising share on the NSE. The volatility spiked significantly, making the trend favourable for bears. The India VIX jumped 11.1 percent to 15.08 level.
