Nifty:21571.8/-50.6/-0.23%;Candle:OGU,Short day red; Bank Nifty:46058.2/357.05/0.78% Candle:OGU,Short day green ; HB:OGU,Short day green,1487,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long46%FutCash;-546;Opt93%
OI data Nifty ( max pain W21600M)
OI data Bank Nifty Nifty(max pain W M)
News:A total of 11 stocks are in the F&O ban list for January 23. The NSE has added IRCTC to the said list while retaining Aditya Birla Fashion & Retail, Balrampur Chini Mills, Delta Corp, Indian Energy Exchange, National Aluminium Company, Oracle Financial Services Software, Polycab India, RBL Bank, SAIL and Zee Entertainment Enterprises to the said list. Hindustan Copper was removed from the said list.
Events/Results:Axis Bank, Indus Towers, JSW Energy, L&T Finance Holdings, Havells India, Karnataka Bank, Mahanagar Gas, REC, Tata Elxsi, United Spirits, CG Power and Industrial Solutions, Cyient DLM, Gandhar Oil Refinery, Glenmark Life Sciences, Granules India, ICRA, Pidilite Industries, Hitachi Energy India, Rallis India, Sona BLW Precision Forgings, Tanla Platforms, and Ugro Capital will release their quarterly earnings on January 23.
Market wrap up(DWM,T,N,E):Technically, the Nifty 50 is expected to be choppy in the short term with crucial hurdle on the higher at 21,850 and the support at 21,300, the low of this month. Hence, if the index breaks either side of this range, then the directional move can be seen in coming days, experts said. On January 20, the additional trading session of the week, the BSE Sensex fell 260 points to 71,424, while the Nifty 50 was down 51 points to 21,572 and formed bearish candlestick pattern which resembles Bearish Engulfing kind of pattern on the daily charts, indicating the possibility of increase in bearish activity. Nifty on the weekly chart closed with the formation of long bear candle, which is also indicating a formation of Bearish Engulfing pattern (not a classical one) on the weekly chart. The index was down 1.5 percent for the week. Hence, “such bearish formation after a long time on the long-term chart signals an emergence of selling pressure in the market at the new highs,” Nagaraj Shetti, senior technical research analyst at HDFC Securities said. He feels the short-term trend of Nifty remains choppy. “Having faced weakness after a small rise on Saturday signal weak bias for the market ahead.” At the higher levels, he feels the market could encounter strong overhead resistance around 21,750-21,850 levels and on the downside could find support around 21,300 levels in the near term. But, Rohit Srivastava, Founder of Strike Money Analytics and Indiacharts, looks bearish after the breaking of previous pattern of higher highs and lows. He feels the uptrend has halted. “We must consider the idea that the rally from the October low is over and a correction is setting in.”
