Nifty:21352.6/-101.35/-0.47%;Candle:OF,Short day red; Bank Nifty:44866.15/-216.25/-0.48% Candle:OF,Doji ; HB:OF,Doji
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long22%FutCash;-2144;Opt89%
OI data Nifty ( max pain W21300M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:ITC, Bajaj Finance, NTPC, GAIL (India), Bharat Petroleum Corporation, Vodafone Idea, Aditya Birla Sun Life AMC, Adani Green Energy, Marico, Bharat Electronics, CSB Bank, Mahindra Logistics, Muthoot Microfin, Nippon Life India Asset Management, Nuvoco Vistas Corporation, Piramal Enterprises, Petronet LNG, Restaurant Brands Asia, R R Kabel, and UTI AMC will be in focus ahead of quarterly earnings on January 29.
Market wrap up(DWM,T,N,E):The market sentiments seem to be in favour of bears given the lower highs, lower lows formation on the daily charts and the negating higher highs formation for the first time in the last 12 consecutive weeks with the formation of a long bearish candlestick pattern on the weekly charts for yet another week ending January 25, the monthly expiry day for January futures & options contracts. Hence, in the coming days, 21,100, the low of last week is expected to be a key support area for the Nifty 50 and below the same, the index may try hard to take support at the psychological 21,000 mark, whereas, on the higher side, 21,400 is an immediate resistance, followed by 21,500, the crucial hurdle, experts said. On January 25, the BSE Sensex fell 360 points to 70,701, while the Nifty 50 was down 101 points at 21,353 and for the week it declined 1 percent. According to Rupak De, senior technical analyst at LKP Securities, the sentiment may continue to lean towards the bears as the Nifty struggled to surpass the 21,500 mark, where Call writers held substantial positions. Nevertheless, a decisive breakthrough above 21,500 could propel the index towards 21,700/22,000 in the short term, he said.
