Nifty:22055.05/-141.9/-0.64%;CandleOGU,Long day red:; Bank Nifty:47019.7/-74.5/-0.16% Candle:OGU,Short dau red; HB:OGU,Short day red,1435,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long42%FutCash;285;Opt94%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Jana Small Finance Bank, Lords Chloro Alkali, and DIC India will be in focus ahead of quarterly earnings on February 22.
The NSE has added Ashok Leyland, Piramal Enterprises, and PVR INOX to the F&O ban list for February 22, while retaining Balrampur Chini Mills, Bandhan Bank, Biocon, Canara Bank, GMR Airports Infrastructure, GNFC, Hindustan Copper, India Cements, Indus Towers, National Aluminium Company, RBL Bank, and Zee Entertainment Enterprises to the said list. SAIL was removed from the said list
Market wrap up(DWM,T,N,E):The market snapped a six-day uptrend and formed Bearish Engulfing candlestick pattern on the daily charts, hence experts feel there is a possibility of some profit booking as well as consolidation at higher levels, but given the continuation of higher highs, higher lows formation, overall the bulls are still in a healthy mood, who after this correction may lift Nifty 50 to new highs again. According to experts, the Nifty 50 may take a support at 21,750 level and on the higher side, in case of bounce back, it may face resistance at 22,300 mark. On February 21, the benchmark indices corrected for the first time in last seven consecutive sessions. The BSE Sensex fell 434 points to 72,623, while the Nifty 50 was down 142 points to 22,055. “A long bear candle was formed on the daily chart, that has engulfed the positive candle of previous session. Technically, this pattern signals a formation of Bearish Engulfing at the highs. Normally, such formation after a reasonable up move indicates short term top reversal pattern for the market,” the bullish chart pattern like higher tops and bottoms continued as per daily timeframe chart and Wednesday’s swing high of 22249 could now be considered as a new higher top of the sequence. Hence, short-term weakness could be expected and the next lower supports to be watched at 21,850-21,750 levels, he said. According to Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas, until record high of 22,249 (seen on February 21) is not taken out, the Nifty can expect consolidation in the near term.
