Nifty:21951.15/-247.2/-1.11%;Candle:OF,Long day red; Bank Nifty:45963.15/-624.9/-1.34% Candle:OF,Long day red ; HB:OF,Short day red,1412,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long45%FutCash;-1879;Opt92%
OI data Nifty ( max pain W2000M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Indus Towers, and SAIL to the F&O ban list for February 29. Aditya Birla Fashion & Retail, Canara Bank, and Zee Entertainment Enterprises were removed from the list.
Market wrap up(DWM,T,N,E):The market fell sharply ahead of expiry of February derivative contracts, but the higher highs, higher lows formation is intact on the daily charts. Hence, present weakness could be in line with new higher bottom of the pattern, experts said, adding that the index may take support at 21,800-21,700 levels in the coming sessions, with hurdle on the higher side at 21,200-22,200 levels. On February 28, the BSE Sensex dropped 790 points or 1.08 percent to 72,306, while the Nifty 50 was down 247 points or 1.1 percent at 21,951 and formed long bearish candlestick pattern on the daily charts, which has engulfed the last two sessions’ bull and bear candles. Technically, “this formation signals trend reversal on the downside and one may expect further weakness in the short term,” He feels the next crucial lower levels to be watched are around 21,800 and 21,700 levels (ascending trendline and 10-week EMA – exponential moving average). Nifty has bounced up from near these levels in the past, but a slide below 21,700 could open sharp fall in the near term. Immediate resistance is placed around 22,150-22,200 levels,” Indicators such as RSI (relative strength index) and MACD (moving average convergence divergence) skewed on the negative side. The index may end its consolidation phase and witness a sell-off if the 22,200 level is not attained.” The volatility jumped over 16 mark, which increased the pressure on bulls. The India VIX jumped 3.83 percent to 16.33, from 15.73 levels.
