Nifty:21453.95/215.15/1.01%;Candle:OGD,Long day green; Bank Nifty:45082.4/67.35/0.15% Candle:OGD,Long day green ; HB:OGD,Long day green,1457,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long48%FutCash;-6935;Opt97%
OI data Nifty ( max pain W21450M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
JSW Steel, Punjab National Bank, ACC, Adani Power, SBI Cards and Payment Services, SBI Life Insurance Company, Tata Technologies, Vedanta, Hindustan Petroleum Corporation, AU Small Finance Bank, Cholamandalam Investment and Finance Company, Cyient, Equitas Small Finance Bank, Indian Energy Exchange, Indraprastha Gas, and Syngene International will be in focus ahead of quarterly earnings on January 25.
Yes Bank, Macrotech Developers, APL Apollo Tubes, Bhansali Engineering Polymers, Capri Global Capital, Craftsman Automation, Dodla Dairy, Olectra Greentech, Utkarsh Small Finance Bank, and Zen Technologies will release quarterly earnings on January 27.
The NSE has added Zee Entertainment Enterprises to the F&O ban list for January 25. Balrampur Chini Mills, IRCTC, National Aluminium Company, Oracle Financial Services Software, and RBL Bank were removed from the said list.
Market wrap up(DWM,T,N,E):The market rebounded smartly in afternoon trade on January 24, led by short covering and faced strong resistance at 21,500 mark (which coincides with 21-day EMA), which experts expect to be a key to watch on the monthly expiry day for January futures & options contracts on January 25. If the index decisively closes above 21,500, then 21,700 can be the possibility, with immediate support at 21,300-21,200 area, experts said. On January 24, the BSE Sensex jumped 690 points to 71,060, while the Nifty 50 was up 215 points at 21,454 and formed long bullish candlestick pattern on the daily charts. Nagaraj Shetti, senior technical research analyst at HDFC Securities, feels the short-term trend of Nifty seems to have reversed up, but the uncertainty remains in the market at the highs , “The market could encounter strong resistance around 21,500-21,600 levels in the coming session. Immediate support is at 21,220 levels,” The negative chart pattern like lower tops and bottoms is intact and the Nifty is currently moving up towards the formation of new lower top of the sequence (which is yet to be formed at the highs). Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas, too, expects Nifty to face resistance in zone 21,500 – 21,520 where the key hourly moving averages are placed. “Traders should look for signs of weakness around the resistance zone before initiating shorts as there is a possibility of a deeper retracement till 21,780 – 21,800 where the hourly upper Bollinger band is placed. The hourly momentum indicator has triggered a positive crossover which is a buy signal. Thus, price and momentum indicator are providing divergent signals which can lead to high intraday volatility,” he said. The broader markets also bounced back after around three percent loss in previous session. The Nifty Midcap 100 and Smallcap 100 indices gained 1.8 percent and 1.7 percent, respectively.
