Nifty:22217.45/162.4/0.74%;Candle:OF,; Bank Nifty:46919.8/-99.9/-0.21% Candle:OGD,Doji ; HB:OGD,Doji,1424
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long44%FutCash;-1410;Opt92%
OI data Nifty ( max pain W22000M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:Rain Industries, Sanofi India, Valecha Engineering, Enkei Wheels (India) and Foseco India will be in focus ahead of quarterly earnings on February 23.
The NSE has added Aditya Birla Fashion & Retail, and SAIL to the F&O ban list for February 23, while retaining Ashok Leyland, Balrampur Chini Mills, Bandhan Bank, Biocon, GMR Airports Infrastructure, GNFC, Hindustan Copper, Indus Towers, National Aluminium Company, Piramal Enterprises, PVR INOX, RBL Bank, and Zee Entertainment Enterprises to the said list. Canara Bank and India Cements were removed from the said list.
Market wrap up(DWM,T,N,E):Technically, the market looked strong given the healthy recovery from 21-day EMA (exponential moving average) and continuation of higher highs formation for seven days in a row. Even the index took a good support at upward sloping trendline and rebounded. Hence, 22,300 is expected to be an immediate hurdle for the Nifty50 on the higher side followed by 22,500 mark, while immediate support at 22,000 and crucial at 21,875, the low of February 22, experts said. On February 22, the benchmark BSE Sensex rallied 535 points to 73,158, while the Nifty 50 gained 163 points to end at a record closing high of 22,218 and formed a Bullish candlestick pattern with a long lower shadow on the daily charts, indicating buying interest at lower levels. “Nifty crossing the all-time high, which was 22,250, was a big surprise. The index has formed a bullish reversal on the daily chart and based on that Nifty is set to move above 22,500 in the near term, however, on an immediate basis 22,300 will be the biggest hurdle,” the strategy should be to buy on dips to 22,150-22,175, with a stop-loss at 22,050 levels. “A close above 22,300 can make it easier to move towards 22,500 or 22,600. Below 22,050, the Nifty may weaken to 21,950 or 21,850,” if the price breaches the 22,250 level, there is potential for a further move towards 22,400 and 22,500. “On the flip side, the immediate support for the Nifty is identified at 21,900,”
