Nifty:21725.7/203.6/0.95%;Candle:OGU,Longday green; Bank Nifty:45996.8/629.05/1.39% Candle:OGU,Long day green ; HB:OGU,Doji,1463,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long30%FutCash;1661;Opt88%
OI data Nifty ( max pain W21650M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Titan Company, Adani Enterprises, Adani Ports and Special Economic Zone, AAVAS Financiers, Abbott India, Aditya Birla Capital, Bata India, City Union Bank, Deepak Fertilisers, eClerx Services, Indian Hotels Company, India Cements and Dr Lal PathLabs will be in focus ahead of quarterly earnings on February 1.
The NSE has added SAIL to the F&O ban list for February 1, while retaining Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):Technically the market turned strong ahead of budget day and recouped most of the previous day’s losses to close above the 21,700 mark on January 31. Hence, in the coming session, the index may face resistance at the 21,800-21,850 area and if it closes above 21,850 and sustains then 22,000 can be a possibility with support at 21,500-21,400 levels, experts said. On January 31, the BSE Sensex rallied 612 points to 71,752, while the Nifty 50 jumped 204 points to 21,726 and formed a long bullish candlestick pattern on the daily charts with healthy volumes. “Analyzing the chart reveals a trading range between 21,850 on the higher side and 21,400 on the lower side, with 21,200 serving as a key support. Both levels have been staunchly defended, but there is a likelihood that one zone may be breached, leading to a trending move in early February,” He expects heightened volatility on budget day and advised traders to exercise caution, avoiding undue risks and waiting for the market to stabilise before making aggressive moves. Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas also feels considering the event of an Interim Budget, the volatility is likely to continue. “Key support levels are 21,550-21,500, while immediate hurdle zone is placed at 21,850-21,900,” Gedia said. The broader markets also traded higher and outperformed benchmarks as the Nifty Midcap 100 and Smallcap 100 indices rallied 1.6 percent and 2.25 percent, respectively.
