Nifty:22032.3/-65.15/-0.29%;Candle:OF,Short day red; Bank Nifty:48125.1/-33.2/-0.07% Candle:OF,Doji ; HB:OF,Short day green,1679,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long66%FutCash;657;Opt96%
OI data Nifty ( max pain W22000M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Asian Paints, LTIMindtree, ICICI Prudential Life Insurance Company, Happiest Minds Technologies, Alok Industries, Oracle Financial Services Software, Hindustan Media Ventures, IIFL Finance, Speciality Restaurants, Som Distilleries & Breweries, Steel Strips Wheels, Star Housing Finance, Ganesh Housing Corporation, and Moschip Technologies will release December FY24 quarter earnings scorecard on January 17.
A total of 15 stocks are in the F&O ban list for January 17. The NSE has added Aditya Birla Fashion & Retail, Ashok Leyland, and National Aluminium Company to the said list while retaining Bandhan Bank, Biocon, Chambal Fertilisers & Chemicals, Delta Corp, Hindustan Copper, India Cements, Indus Towers, Metropolis Healthcare, Piramal Enterprises, Polycab India, PVR INOX, and Zee Entertainment Enterprises to the said list. BHEL, Escorts Kubota, and SAIL were removed from the said list.
Market wrap up(DWM,T,N,E):The market has retreated some gains on profit taking and weak global cues, and formed Tweezer Top kind of candlestick pattern on the Nifty 50 on January 16, which is a bearish reversal pattern formed at the top. The confirmation will be seen in the follow-up candle. Tweezer top candlestick occurs when the high points of two candlesticks remain the same after an uptrend. Hence, experts expect consolidation and normal profit booking to continue in the index with immediate support at 21,900-21,800 and crucial support at 21,500 mark, given the recent rally towards a new high, whereas in case of rebound, the immediate hurdle is expected to be at 22,200 levels. On January 16, the benchmark indices snapped five-day gains. The BSE Sensex was down 199 points at 73,129, while the Nifty 50 fell 65 points to 22,032 and formed bearish candlestick pattern on the daily charts. “The Nifty witnessed a Tweezer-top candlestick formation near the 21,125 levels, which is a bearish reversal pattern. However, 21,970, 21,830, and 21,640 are strong support levels,” Only below the 20-DMA of 21,640, he expects profit booking in the market, where 21,450 and 21,000 are the next support levels. On the upside, 22,222 will be the next hurdle, he said. Omkar Patil, technical & derivatives analyst – institutional equity at Ashika Group said a buy on dip strategy must be emphasized as long as 21,600 is protected on the downside. The broader markets also corrected in line with frontline indices. The Nifty Midcap 100 and Smallcap 100 indices were down 0.4 percent and 0.5 percent, respectively.
Nifty:22097.45/202.9/0.93%;Candle:OGU; Bank Nifty:48158.3/448.3/0.94% Candle:OGU,Long day green ; HB:OGU,Long day green,1680,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long66%FutCash;1086;Opt102%
OI data Nifty ( max pain W2000M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:HDFC Bank, ICICI Lombard General Insurance Company, L&T Technology Services, Federal Bank, Gallantt Ispat, Goa Carbon, Hathway Cable & Datacom, Himadri Speciality Chemical, ICICI Securities, Jindal Saw, Lotus Chocolate, Bank of Maharashtra, C E Info Systems, Credo Brands Marketing, Network18 Media & Investments, Newgen Software Technologies, and TV18 Broadcast will be in focus ahead of December FY24 quarter earnings on January 16.
A total of 15 stocks are in the F&O ban list for January 16. The NSE has added Biocon to the said list while retaining Bandhan Bank, BHEL, Chambal Fertilisers & Chemicals, Delta Corp, Escorts Kubota, Hindustan Copper, India Cements, Indus Towers, Metropolis Healthcare, Piramal Enterprises, Polycab India, PVR INOX, SAIL and Zee Entertainment Enterprises to the said list. National Aluminium Company was removed from the said list.
Market wrap up(DWM,T,N,E):The market continued its record high run for yet another session after a decisive breakout, which experts feel is expected to continue in the near term given the strong momentum, but along with consolidation and volatility. According to them, 22,200-22,400 will be the hurdle to watch on the higher side, while the 21,900-21,800 levels are expected to act as support. On January 15, the BSE Sensex spiked 759 points to 73,328 led by technology, banks & Reliance Industries, while the Nifty 50 jumped 203 points to 22,098 after gap up opening and formed bullish candlestick pattern with long lower shadow on the daily timeframe, indicating buying interest at lower levels. Technically, “this pattern indicates confirmation of sharp upside breakout of the important hurdle. If Monday’s opening upside gap remains unfilled at 21,900 levels for the next 2-3 sessions, then that gap could be considered as a bullish runaway gap, which are normally formed in the middle of the sustainable uptrends,” said Nagaraj Shetti, senior technical research analyst at HDFC Securities. The next upside levels to be watched are around 22,200-22,300, he said, adding immediate support is placed at 22,000 levels. According to Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas also, the short-term upside target for Nifty is placed at 22,350 – 22,500 where resistance in the form of the weekly upper Bollinger band while is placed and 22,500 strike has the highest concentration of Open Interest on the Call side and hence can act as a resistance from short term perspective. But the broader markets continued to underperform the benchmark indices. The Nifty Midcap 100 and Smallcap 100 indices gained 0.7 percent and 0.4 percent, respectively.
Nifty:21894.55/247.35/1.14%;Candle:OGU,Long day green; Bank Nifty:47709.8/271.45/0.57% Candle:OGU,Long day green ; HB:OF,Doji,1645,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long63%FutCash;-340;Opt100%
OI data Nifty ( max pain W21850M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Jio Financial Services, Angel One, Fedbank Financial Services, Kesoram Industries, Metalyst Forgings, Nelco, PCBL, Reliance Industrial Infrastructure, Suraj Estate Developers, Brightcom Group, Choice International, Digicontent, Excel Realty N Infra, and Jai Balaji Industries will be in focus ahead of quarterly earnings on January 15.
A total of 15 stocks are in the F&O ban list for January 15. The NSE has added Chambal Fertilisers & Chemicals, and Metropolis Healthcare to the said list while retaining Bandhan Bank, BHEL, Delta Corp, Escorts Kubota, Hindustan Copper, India Cements, Indus Towers, National Aluminium Company, Piramal Enterprises, Polycab India, PVR INOX, SAIL and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):Technology stocks played a vital role on January 12, boosting the Nifty 50 to a new high after eight days of consolidation and closing a tad below 21,900 levels. Given the strong momentum in the bull’s camp, the index is likely to climb the much-awaited psychological 22,000 mark soon with support at 21,750-21,600 levels, but might get pressure from bears at 22,000, experts said , On January 12, the benchmark indices ended at a new record closing high with the BSE Sensex rising 847 points to 72,568, while the Nifty 50 surged 247 points or 1.14 percent to 21,895 and formed a bullish candlestick pattern on the daily timeframe. In fact, the index has also seen a strong breakout of downward downward-sloping resistance trendline hurdle of 21,750 with a gap-up opening on the same day. The positive chart pattern like higher tops and bottoms is intact and the recent swing low of January 10 at 21,448 could be considered as a new higher bottom of the sequence, Nagaraj Shetti, senior technical research analyst, HDFC Securities said.
The positive chart pattern like higher tops and bottoms is intact and the recent swing low of January 10 at 21,448 could be considered as a new higher bottom of the sequence, Nagaraj Shetti, senior technical research analyst, HDFC Securities said.
Even on the weekly chart, the Nifty 50 has formed a reasonable bull candle with a long lower shadow, nullifying the bearish doji pattern implication of the previous week, as Nifty closed above the high of last week (at 21,834 levels). Hence, the next upside level to be watched is around 22,200, while the immediate support is at 21,750, Nagaraj said. Momentum indicators like RSI (relative strength index) are holding the bullish zones on daily and weekly scales which indicates about ongoing strength of the index. “Now it has to hold above 21,800 area, to make an up move towards 22,000 then 22,222 levels, while on the downside support exists at 21,650 and 21,450 zones,”
Nifty:21647.2/28.5/0.13%;Candle:OGU,Doji; Bank Nifty:47438.35/77.5/0.16% Candle:OGU,Doji ; HB:OGU,1649,Long day red,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long63%FutCash;m;Opt97%
OI data Nifty ( max pain W21650M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:HCL Technologies, Wipro, HDFC Life Insurance Company, Tata Metaliks, Anand Rathi Wealth, Artson Engineering, Bharat Bijlee, Aditya Birla Money, Den Networks, Just Dial, Harshil Agrotech, Hathway Bhawani Cabletel & Datacom, Hi-Tech Pipes, JTL Industries, LKP Finance, Mishka Exim, and Neueon Towers will be in focus ahead of quarterly earnings on January 12.
The NSE has added BHEL, Delta Corp, and Polycab India to its F&O ban list for January 12, while retaining Bandhan Bank, Escorts Kubota, Hindustan Copper, India Cements, Indus Towers, National Aluminium Company, Piramal Enterprises, PVR INOX, SAIL and Zee Entertainment Enterprises to the said list. Balrampur Chini Mills, Chambal Fertilisers & Chemicals, and Indian Energy Exchange removed from the said list.
Market wrap up(DWM,T,N,E):The Nifty 50 failed to climb above the downward sloping resistance trendline (around 21,725, the day’s high on January 11), though saw higher high, higher low formation. Hence, broadly, the index is likely to remain rangebound until it trades below 21,725-21,750 levels, with support at 21,500 mark and if it surpasses the said resistance then record high 21,834 can’t be ruled out, experts said. On January 11, the BSE Sensex advanced 63.5 points to 71,721, while the Nifty 50 was up 28.5 points at 21,647 and formed bearish candlestick pattern on the daily charts as the closing was lower than opening levels. “Technically, this pattern indicates a rangebound action in the market below the immediate resistance. The market is now placed at the hurdle of downsloping trendline, that connected recent lower highs at 21725 levels,” Nagaraj Shetti, senior technical research analyst, HDFC Securities said. Having showed a false downside breakout at 21,500 levels on Wednesday, the Nifty is expected to reach up to the upper trajectory of 21,750-21,850 levels in the near term, he feels. “A decisive move above the hurdle of 21,850 could open sharp upside momentum.” Immediate support is placed at 21,590 levels, he said. Kunal Shah, senior technical & derivative analyst, LKP Securities, also said that presently Nifty’s immediate support has shifted to 21,600, while 21,730 serves as a resistance level on the technical chart. “The broader positional support for Nifty remains at 21,500.” India VIX, the fear index, dropped further, by 1.07 percent to 12.77 levels, which made the bulls comfortable.
Nifty:21618.7/73.85/0.34%;Candle:OGD,Short day green; Bank Nifty:47360.85/118.2/0.25% Candle:OGD,Short day green ; HB:OGD,Short day green,1656,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long63%FutCash;-1721;Opt%
OI data Nifty ( max pain W21560M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Indus Towers, PVR INOX, and Zee Entertainment Enterprises to its F&O ban list for January 11, while retaining Balrampur Chini Mills, Bandhan Bank, Chambal Fertilisers & Chemicals, Escorts Kubota, Hindustan Copper, Indian Energy Exchange, India Cements, National Aluminium Company, Piramal Enterprises, and SAIL to the said list. Delta Corp, and GNFC (Gujarat Narmada Valley Fertilisers & Chemicals) removed from the said list.
Market wrap up(DWM,T,N,E):Considering the sharp recovery from day’s low and consistently holding 21,500 mark on closing basis along with taking support at upward sloping support trendline, the Nifty 50 may see northward journey towards the hurdle of 21,700-21,850 area in coming sessions, but overall, the index still has been in the range of 300-400 points since the starting of the current month, experts said. On January 10, the BSE Sensex jumped 272 points to 71,658, while the Nifty 50 was up 74 points at 21,619 and formed bullish candlestick pattern with long lower shadow on the daily timeframe, indicating buying interest at lower levels. “Technically, this pattern indicates false downside breakout of the immediate support of 21,500 levels by an emergence of renewed buying from the lows,” After closing below the immediate support of 10-day EMA (exponential moving average) at 21,550 in the last couple of sessions, Nifty failed to show any sharp follow-through weakness/decisive downside breakout and has bounced back smartly from the lower levels. This is positive indication, he feels. Hence, he further feels the short-term trend of Nifty seems to have reversed up after a minor decline of the last two sessions. “The Nifty is now expected to retest the upper trajectory around 21,750-21,850 levels in the next few sessions. Immediate support is placed at 21,450 levels,” According to Kunal Shah, senior technical & derivative analyst at LKP Securities, if the index manages to close above 21,700-21,750 levels, then the index might see the Nifty reaching 22,000. The fear index India VIX dropped further, down by 2.2 percent to 12.97 levels, giving the comfort for bulls.
Nifty:21544.85/31.85/0.15%;Candle:OGU,Long day red; Bank Nifty:47242.65/-207.6/-0.44% Candle:OGU,Long day red, ; HB:OGU,Long day red,1651
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long64%FutCash;-990;Opt100%
OI data Nifty ( max pain W21600M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Balrampur Chini Mills, Bandhan Bank, Chambal Fertilisers & Chemicals, Delta Corp, Escorts Kubota, GNFC (Gujarat Narmada Valley Fertilisers & Chemicals), Hindustan Copper, Indian Energy Exchange, India Cements, National Aluminium Company, Piramal Enterprises, and SAIL to its F&O ban list for January 10, while Zee Entertainment Enterprises removed from the said list.
Market wrap up(DWM,T,N,E):The market seems to be struggling hard to hold on to the 21,500 mark, the immediate support level as bears made several attempts in the recent past to break the said support but bulls strongly resisted and helped the Nifty 50 to close above the same mark. Hence, as long as the index holds the said support, rangebound trade is expected to continue with resistance at 21,750-21,850 levels, experts said. If the index breaks 21,500, then possibly there may be strong action from bears, they added. On January 9, the benchmark indices had a strong opening after a day of correction but erased most of gains in last hour of trade and finally settled with moderate gains due to profit taking at higher levels. Overall, the indices traded within the previous day’s range. The BSE Sensex was up 31 points at 71,386, while the Nifty 50 gained 32 points at 21,545 and formed bearish candlestick pattern on the daily charts as the closing was lower than opening levels. “Technically, this is negative indication and signal occurrence of sharp weakness from the overhead hurdles around 21,750 levels,” The Nifty 50 has now started to visit the immediate supports of 10-day EMA (exponential moving average 21,565) frequently, after showing minor upside bounces. The said moving average was intact since past two months and a decisive break below this support at 21,500 could trigger more weakness ahead, Further, he feels the short-term trend of Nifty remains weak and emergence of selling pressure at the lower highs around 21,750-21,850 levels indicate weak bias for the short term. “Any upside bounce from here could encounter hurdle around 21,700 levels.” ny significant directional movement for Nifty hinges on two possibilities: achieving a closing above 21,750 to reclaim bullish momentum, or experiencing a close below 21,500, which could prompt additional selling pressure and potentially pull the Nifty index toward the 21,200 mark. he market breadth was slightly tilted in favour of bulls as about 1,198 equity shares advanced against 965 declining shares on the NSE.
Nifty:21513/-197.8/-0.91%;Candle:OP,Long day red; Bank Nifty:47450.25/-708.75/-1.47% Candle:OF,Long day red ; HB:OF,Long day red,1672.6
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long62%FutCash;16;Opt96%
OI data Nifty ( max pain W21550M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Bandhan Bank to its F&O ban list for January 9, while retaining Balrampur Chini Mills, Chambal Fertilisers & Chemicals, Delta Corp, Escorts Kubota, GNFC (Gujarat Narmada Valley Fertilisers & Chemicals), Hindustan Copper, Indian Energy Exchange, India Cements, National Aluminium Company, Piramal Enterprises, SAIL and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):The market fell nearly a percent and again reached the crucial support of the 21,500 mark while breaking the 10-day EMA (exponential moving average of 21,569) within a week. Overall, it still seems to be in the range of 21,500-21,850, but in case of breaking the said support, the 21,350-21,300 zone will be key to watch out for on the downside, while on the higher side, the 21,800-21,850 zone will remain a the hurdle, said experts. On January 8, the BSE Sensex plunged 671 points to 71,355, while the Nifty 50 dropped 198 points to 21,513 and formed a long bearish candlestick pattern, which resembles a Bearish Engulfing kind of candlestick pattern on the daily charts, indicating the possibility of a trend reversal. “The market reacting down sharply after a small rise is signalling a presence of strong overhead resistance around 21,750-21,800 levels,” The positive chart pattern like higher tops and bottoms is intact, but he feels the formation of a new lower top at 21,763 could be an alarming signal for bulls at the higher levels. “The next lower supports to be watched at 21,350 (20-day EMA). Immediate resistance is placed at 21,650 levels,” The support of 21,500 if held can see recovery towards 21,650 which is the immediate hurdle zone.” The volatility also increased sharply, making the bulls uncomfortable at Dalal Street. The India VIX jumped 7.06 percent to 13.46, from 12.63 levels. The broader markets were also under pressure with the Nifty Midcap 100 and Smallcap 100 indices falling 1 percent and 0.6 percent, respectively.
Nifty:21710.8/52.2/0.24%;Candle:OF,Doji; Bank Nifty:48159/-36.85/-0.08% Candle:OF,Short day red ; HB:OF,Short day red,1684,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long67%FutCash;1696;Opt97%
OI data Nifty ( max pain W21700M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Piramal Enterprises to its F&O ban list for January 8, while retaining Balrampur Chini Mills, Chambal Fertilisers & Chemicals, Delta Corp, Escorts Kubota, GNFC (Gujarat Narmada Valley Fertilisers & Chemicals), Indian Energy Exchange, India Cements, National Aluminium Company, SAIL and Zee Entertainment Enterprises to the said list. Hindustan Copper was removed from the said list.
Market wrap up(DWM,T,N,E):The market is expected to be volatile and likely to consolidate with a hurdle on the higher side at 21,800-21,850 levels and strong support at 21,500 mark. If the index manages to decisively surpass the hurdle, then 22,000 can’t be ruled out in coming days, but the breaking of support can push the index down up to 21,400-21,300 levels, experts said. On January 5, the BSE Sensex climbed 179 points to 72,026, while the Nifty 50 was up 52 points at 21,711 and formed Doji candlestick pattern on the daily charts, as the closing was near its opening levels. This indicated indecisiveness among bulls and bears about the future market trend. “Normally, Doji formations at the highs calls for caution for longs. But, the formation of this pattern amidst range movement, hence the sharp negative implication can’t be expected,” He feels the short-term uptrend status of Nifty remains intact, but the market is likely to find resistance around 21,800-21,850 levels in the coming sessions. “A decisive move only above 21,850-21,900 levels could open the next upside target of 22,200 levels. Any dips from here could find support around 21,500,” The falling volatility also supported the market as the fear index India VIX was down 5.25 percent to 12.63 levels, while the broader markets closed positive with the Nifty Midcap 100 and Smallcap 100 indices rising 0.2 percent and 0.65 percent respectively.
Nifty:%;Candle:OGU,Short day green; Bank Nifty:% Candle:OGU,Long day green ; HB:OGU,Long day green,1692.5,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long66%FutCash;1513;Opt107%
OI data Nifty ( max pain W21650M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
he NSE has added Chambal Fertilisers & Chemicals, Escorts Kubota, GNFC (Gujarat Narmada Valley Fertilisers & Chemicals) and India Cements to its F&O ban list for January 5, while retaining Balrampur Chini Mills, Delta Corp, Hindustan Copper, Indian Energy Exchange, National Aluminium Company, SAIL and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):Given the strong rebound after the fall in the previous two sessions, the bulls seem to be still in a healthy position and may help the Nifty50 march towards its 21,800-21,850 area in coming sessions as the index strongly held on to 21,500 as a support and if the said hurdle gets surpassed then psychological 22,000 mark can’t be ruled out, experts said. On January 4, the BSE Sensex jumped 491 points to 71,848, while the Nifty 50 climbed 141 points to 21,659, and formed a small bullish candlestick pattern on the daily timeframe. “A small positive candle was formed on the daily chart, which is placed within a high-low range of Wednesday’s bear candle. Technically, this could be considered a bullish Inside Day-type candle pattern. Hence, more upside in the next session is likely to confirm this bullish pattern,” the short-term trend of Nifty seems to have reversed on the upside after two sessions of minor weakness. “Nifty sustaining above 21,550-21,600 levels could open the next upside towards 21,850-21,900 levels and higher in the near term. Immediate support is at 21,550,” Considering the overall chart structure, Vidnyan Sawant, HOD – Research at GEPL Capital also maintains a bullish stance with specific targets set at 21,834 (the record high between 21,800-21,850) and 22,000 for the short to medium term. This analysis suggests a positive trajectory for the index, indicating a likelihood of sustained gains in the near term, he said. The Nifty Midcap 100 and Smallcap 100 indices performed better than benchmarks after consolidation, rising 1.7 percent and 1 percent, respectively on positive breadth, while the declining volatility also supported bulls as the fear index India VIX fell 5.44 percent to 13.33 levels
Nifty:21517.35/-148.45/-0.69%;Candle:OF,Short day red; Bank Nifty:47704.95/-56.7/-0.12% Candle:OF,Doji ; HB:OF,Long day red,1676,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long66%FutCash;-666;Opt%
OI data Nifty ( max pain W21550M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added National Aluminium Company to its F&O ban list for January 4, while retaining Balrampur Chini Mills, Delta Corp, Hindustan Copper, Indian Energy Exchange, SAIL and Zee Entertainment Enterprises to the said list.
Market wrap up(DWM,T,N,E):With the consistent correction and the formation of lower highs and lower lows for yet another session, the 21,500 on the Nifty50 may be a make-or-break level in the coming sessions. If the index falls decisively below the same, then 21,300-21,500 may be the next levels to watch on the downside, whereas on the higher side, if the index manages to hold, then it may march towards 21,600-21,800 levels again, experts said. On January 3, the BSE Sensex dropped 536 points to 71,357, while the Nifty50 declined 149 points to 21,517 and formed a long bullish candlestick pattern on the daily charts continuing a downtrend for the second straight session. “On the way down, the Nifty has now reached the 38.2 percent Fibonacci retracement level (21,507), which is likely to act as a make-or-break level for the Nifty,” He expects the Nifty to hold on to this support and prepare a base for the next leg of upmove. Overall, he believes that the fall is a retracement of the previous rise from 20,976 to 21,834 and not a trend reversal, and thus this dip should be used as a buying opportunity. The broader markets were mixed in trend and the market breadth was in favour of bulls. The Nifty Midcap 100 index was up 0.3 percent and Smallcap 100 index fell 0.01 percent.
