Nifty:21982.8//31.65/0.14%;Candle:OF,Short day green; Bank Nifty:46120.9/157.75/0.34% Candle:OGD,Short day green ; HB:OF,1408,Doji
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long35%FutCash;3568;Opt90%
OI data Nifty ( max pain W22000M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
Market wrap up(DWM,T,N,E):The market is expected to remain rangebound as long as it trades below 22,200 as closing decisively above the same can raise some hope for another leg of northward journey in the Nifty 50 in coming sessions, experts said. On the lower side, the 21,950 level (which coincides with 21-day EMA -exponential moving average) is expected to act as an immediate support for the index, followed by 21,850 which coincides with upward sloping support trendline, they added. The index defended both these supports on closing basis, which is a positive sign. On February 29, the benchmark indices remained volatile and gained strength in late trade. The BSE Sensex climbed 195 points to 72,500, while the Nifty 50 was down 32 points to close at 21,983 on the expiry day for February futures & options contracts. The index has formed bullish candlestick pattern with upper and lower shadows, which resembles High Wave kind of pattern on the daily charts, indicating volatility. “On the daily chart, the index concluded just above the 21-day exponential moving average (21EMA). At the lower end, crucial support is positioned at 21,950; as long as the index maintains a position above 21,950, there is a possibility of witnessing a recovery. Nevertheless, a decline below 21950 could potentially lead the index towards 21,800,” Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas, feels the index is still not out of the woods and it is likely to witness volatile action going ahead. “22,230 – 22,250 will act as an immediate hurdle zone from short term perspective.” The broader markets outperformed benchmark indices as the Nifty Midcap 100 and Smallcap 100 indices gained 0.5 percent and 0.6 percent, respectively.
