Nifty:22123.65/118.95/0.54%;Candle:OGU,Doji; Bank Nifty:46785.95/185.75/0.4% Candle:OGU, Short day green; HB:OGU,1444;Long day green
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long31%FutCash;2170;Opt93%
OI data Nifty ( max pain WM)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Hindustan Copper and Zee Entertainment Enterprises to the F&O ban list for March 28. SAIL was removed from the said list
Market wrap up(DWM,T,N,E):The market gained strength amid recent consolidation and climbed above the downward-sloping resistance trendline on a closing basis. If the Nifty 50 sustains above the same trendline in the coming days, then the index may take a leap towards record highs in coming sessions with support on the downside at the 21,900 mark, experts said. On March 27, the benchmark indices recouped all the previous day’s losses. The BSE Sensex rallied 526 points to 72,996, while the Nifty 50 was up 119 points at 22,124 ahead of the expiry of March derivative contracts and formed a bullish candlestick pattern on the daily charts. Now, the index traded above all key moving averages. “On Wednesday, the Nifty 50 moved up above 22,100 and closed above it as well. The short-term momentum appears positive, supported by a crossover in the RSI (relative strength index 14) indicator. The trend is likely to remain positive as long as it stays above 22,000,” Rupak De, senior technical analyst at LKP Securities said. On the higher end, it could potentially move towards 22,300 and beyond in the short term, he feels. Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas also believes that the retracement rally has more steam left and he expects the momentum to continue. On the broader markets front, the Nifty Midcap 100 index was up 0.06 percent and Smallcap 100 index rose nearly 1 percent.
Nifty:22004.75/-92.05/-0.42%;Candle:OGD,Doji; Bank Nifty:46600.2/-263.55/-0.56% Candle:OGD,Doji ; HB:OGD,Long day red,1426,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long33%FutCash;10;Opt96%
OI data Nifty ( max pain W22100M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained SAIL to the F&O ban list for March 27. Biocon, Tata Chemicals and Zee Entertainment Enterprises were removed from the said list.
Market wrap up(DWM,T,N,E):The market is expected to remain rangebound in the coming sessions too, with the Nifty 50 likely facing hurdle at 22,100-22,200 levels on the higher side, while the immediate support may be at 21,900, followed by 21,800 level, experts said, adding the breaking of the said range on either side can give firm direction to the index. On March 26, the BSE Sensex was down 362 points at 72,470, while the Nifty 50 fell 92 points to 22,005 and formed bullish candlestick pattern with long upper shadow on the daily charts, which was formed within the body of previous day’s candle, indicating a broader rangebound action for the market. “At the lows, the area of 21,900 is offering strong support for the market and the Nifty is facing stiff resistance at the highs around 22,150-22,200 levels. Hence, a decisive move beyond this range is likely to open sharp movement for the market on either side,” He feels the overall long-term chart pattern remains positive and that indicates a possibility of upside breakout in the near term. For an optimistic outlook, Om Mehra, technical analyst at Samco Securities feels the Nifty needs to close above the middle Bollinger band around the 22,180-22,200 zone and until Nifty surpasses these levels, it may be advisable to opt for a sell-on-rise strategy. However, the broader markets continued to outperform benchmark indices as the Nifty Midcap 100 index rose 1 percent and Smallcap 100 index gained 0.4 percent.
Nifty:22096.75/84.8/0.39%;Candle:OGD,Long day green; Bank Nifty:46863.7/178.85/0.38% Candle:OF,Short day green, ; HB:OF,Short day red,1443,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long%FutCash;-3310;Opt%
OI data Nifty ( max pain W22100M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Biocon, SAIL, Tata Chemicals and Zee Entertainment Enterprises to the F&O ban list for March 26. Balrampur Chini Mills, Indus Towers, and Piramal Enterprises were removed from the said list.
Market wrap up(DWM,T,N,E ):Though the market rebounded nearly 400 points from the low of last week, it is expected to be rangebound and volatile in the coming truncated week, experts said, adding the key hurdle on the higher side is expected to be 22,300 and the crucial support is likely to be 21,700 on the Nifty 50. The breaking of either side of the range can give firm direction to the market, while the monthly F&O expiry-led volatility is also likely to be seen. On March 22, the BSE Sensex climbed 191 points to 72,832, while the Nifty 50 gained 85 points at 22,097 and formed bullish candlestick pattern on the daily charts with above average volumes, while on the weekly scale, the index formed small bullish candle with long lower shadow which resembles Hammer kind of pattern (not a classic one). The index rose 0.3 percent during the week. “The recent pullback from the lows of 21,710 appears to be overlapping and hence we conclude that it is a retracement of the fall and not the beginning of a new leg of upmove,” Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas said. He feels the Nifty is likely to consolidate in the range 22,300 – 21,700 in the absence of any near term triggers ahead of the quarterly results announcement which starts during the third week of April. Shilpa Rout, AVP – Derivatives Research at Prabhudas Lilladher also agreed with Jatin, saying the support for Nifty now stands around 21,700 and the resistance is very strongly placed around 22,300. “Until we breach either side of the range, the same kind of volatility might continue.” The volatility dropped for third consecutive session, making the bulls more comfortable. India VIX, the fear index, declined 2.34 percent to 12.22 from 12.51 levels, while the Nifty Midcap 100 and Smallcap 100 indices gained six tenth of a percent each.
Nifty:22011.95/172.85/0.79%;Candle:OF,Doji; Bank Nifty:46684.9/374/0.81% Candle:OGU,Doji ; HB:OGU,Doji,1445
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long33%FutCash;-1827;Opt96%
OI data Nifty ( max pain W22000M)
OI data Bank Nifty Nifty(max pain W M)
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Market wrap up(DWM,T,N,E):The market recorded healthy gains and successfully reclaimed the 50-day EMA (exponential moving average) on March 21 after a Doji candlestick pattern formation in the previous session, indicating a strong bullish reversal. Hence, the Nifty 50 is likely to march towards the 22,100-22,300 zone initially with support at 21,700 and once it manages to sustain above 22,300 then a rally towards record highs can’t be ruled out, experts said. On March 21, the BSE Sensex jumped 540 points to 72,641, while the Nifty 50 rose 173 points to 22,012 after a positive opening and formed small-bodied bullish candlestick pattern with upper and lower shadow on the daily charts. The buy-on-dips strategy is expected to remain viable as long as the Nifty maintains levels above 21,840, he advised. Shrikant Chouhan, head of equity research at Kotak Securities expects that 21,950 would act as a trend decider level above which the bull run is likely to continue. “On the higher side, short-term resistance lies at 22,150-22,200. However, below 21,950 traders may prefer to exit from the trading long positions,” said Chouhan. The declining volatility also supported the market, giving confidence to bulls. The India VIX, the fear index, fell by 7.12 percent to the 12.51 level, while the BSE Midcap and Smallcap indices gained more than 2.4 percent each. The NSE has added SAIL to the F&O ban list for March 22, while retaining Balrampur Chini Mills, Biocon, Indus Towers, Piramal Enterprises, Tata Chemicals and Zee Entertainment Enterprises on the said list. Hindustan Copper and RBL Bank were removed from the said list.
Nifty:21839.1/21.65/0.1%;Candle:OF,Doji; Bank Nifty:46310.9/-73.9/-0.16% Candle:OF,Doji ; HB:OF,Long day red,1532
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long31%FutCash;-2599;Opt95%
OI data Nifty ( max pain W21850M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Tata Chemicals to the F&O ban list for March 21, while retaining Balrampur Chini Mills, Biocon, Hindustan Copper, Indus Towers, Piramal Enterprises, RBL Bank, and Zee Entertainment Enterprises on the said list. BHEL and SAIL were removed from the said list.
Market wrap up(DWM,T,N,E):Given the smart recovery from the day’s low and the formation of the Doji candlestick pattern on the daily charts on March 20 after a large bearish candle in the previous session, the market may see some pullback rally but the sustainability of the same is the key to watch as overall sentiments are still weak, experts said, adding the index may face immediate resistance at 21,900-22,000 levels with support at 21,700 mark. On March 20, the BSE Sensex rose 90 points to 72,102, while the Nifty 50 was up 22 points at 21,839. Doji candlestick pattern means the closing is similar to opening levels, indicating the tug-of-war between bulls and bears for further market trend, and this can also act as a trend reversal pattern. “Normally, a Doji after a reasonable up move or down move calls for impending trend reversals. Having formed a Doji after a minor downtrend, the chance of a minor pullback rally is likely,” Minor degree positive chart patterns like higher tops and bottoms have been negated recently as per the daily chart. Hence, any upside bounce from here is expected to be a lower top formation in the short term. He feels the near-term trend of Nifty remains weak. “Further up move from here could find strong overhead resistance around 22,150-22,200 levels in the next few sessions and this is likely to be a sell-on-rise opportunity. Immediate support is at 21,700,” he said.
Nifty:21817.45/-238.25/-1.08%;Candle:OGD,Long day red; Bank Nifty:46384.8/-191.1/-0.41% Candle:OGD,Doji ; HB:OGD,Long day green,1450,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long33%FutCash;1421;Opt97%
OI data Nifty ( max pain W21900M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Indus Towers to the F&O ban list for March 20, while retaining Balrampur Chini Mills, BHEL, Biocon, Hindustan Copper, Piramal Enterprises, RBL Bank, SAIL and Zee Entertainment Enterprises on the said list. Aditya Birla Fashion & Retail, Manappuram Finance, National Aluminium Company and Tata Chemicals were removed from the said list.
Market wrap up(DWM,T,N,E):With the increasing weakness in the market after the breaking down of the consolidation range as well as upward sloping support trendline and 50-day EMA (exponential moving average placed at 21,865), the market participants seem to be cautious now. If the Nifty 50 fails to hold on to the 21,800 level in coming sessions, then is likely to extend a southward journey initially towards the 21,700 mark and then at 21,500, experts said, adding that in the case of a bounce back, the index may face resistance at 22,000 and 22,200 levels. On March 19, the BSE Sensex lost 736 points or 1.01 percent to end the day at 72,012, while the Nifty 50 fell 238 points or 1.08 percent to 21,817 and formed a long bearish candlestick pattern on the daily charts with above-average volumes. The index has also broken the higher highs and higher lows formation on the daily charts by falling below 21,860 indicating more weakness. “The Nifty has broken down from the rising wedge pattern on the daily chart, suggesting a potential reversal of the uptrend. Additionally, it has fallen below the critical short-term moving average, indicating weakening momentum,” The relative strength index (RSI) has also shown a bearish crossover, indicating increasing selling pressure. “Key levels to watch include resistance at 22,000 and support at 21,800. A drop below 21,700 could lead to further correction in the Nifty,” Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas also feels daily and hourly momentum indicator has a negative crossover, which is a sell signal. “The next crucial support level comes in at 21,740 and below that potentially towards 21,530,”
Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas also feels daily and hourly momentum indicator has a negative crossover, which is a sell signal. “The next crucial support level comes in at 21,740 and below that potentially towards 21,530,” Gedia added.
However, he believes that the Nifty is at the fag end of the fall and the selling may not be that sharp. The Nifty Midcap 100 and Smallcap 100 indices declined 1.2 percent each on weak breadth.
Nifty:22055.7/32.35/0.15%;Candle:OGD,doji; Bank Nifty:46575.9/-18.2/-0.04% Candle:OGD,Green doji ; HB:OGD,Doji,Vol last session,1446
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long37%FutCash;-2051;Opt99%
OI data Nifty ( max pain W22050M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Balrampur Chini Mills to the F&O ban list for March 19, while retaining Aditya Birla Fashion & Retail, BHEL, Biocon, Hindustan Copper, Manappuram Finance, National Aluminium Company, Piramal Enterprises, RBL Bank, SAIL, Tata Chemicals and Zee Entertainment Enterprises on the said list.
Market wrap up(DWM,T,N,E):The market remained uncertain in trend with consistently taking support at 21,900 level and resistance at 22,200 mark for third consecutive session on March 18 after sharp correction on March 13, which overall indicates that the benchmark indices may be waiting for the outcome of central bank meetings (US, Japan and Bank of England) scheduled later this week. Hence, 21,900-21,850 is expected to act as a support for the Nifty 50 as breaking down of the same can bring more selling pressure, but trading consistently above 22,200 can strengthen the bulls for a move towards record high, experts said. On March 18, the market had a choppy session as some buying interest in second half helped the benchmark indices close moderately higher. The BSE Sensex rose 105 points to 72,748, while the Nifty 50 gained 32 points at 22,056 and formed small bullish candlestick pattern with upper and lower shadows on the daily charts, indicating volatility. On March 18, the market had a choppy session as some buying interest in second half helped the benchmark indices close moderately higher. The BSE Sensex rose 105 points to 72,748, while the Nifty 50 gained 32 points at 22,056 and formed small bullish candlestick pattern with upper and lower shadows on the daily charts, indicating volatility. On the contrary, he feels the 22,180-22,000 zone is likely to provide resilience, followed by 22,300. The undertone remains bearish biases until an assertive move is seen beyond the mentioned resistances, he said. However, the broader markets underperformed frontline indices, as the Nifty Midcap 100 and Smallcap 100 indices fell 0.4 percent and 0.6 percent respectively.
Nifty:22023.35/-123.3/-0.56%;Candle:OGD,Short day red; Bank Nifty:46594.1/-195.85/-0.42% Candle:OGD,Doji ; HB:OGD,Doji,1452,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long38%FutCash;848;Opt97%
OI data Nifty ( max pain W22050M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Biocon, and Hindustan Copper to the F&O ban list for March 18, while retaining Aditya Birla Fashion & Retail, BHEL, Manappuram Finance, National Aluminium Company, Piramal Enterprises, RBL Bank, SAIL, Tata Chemicals and Zee Entertainment Enterprises on the said list.
Market wrap up(DWM,T,N,E):After the recent sharp decline, the market remained volatile and is expected to remain rangebound with negative bias in the coming sessions too. In fact, the range has been narrowed with support, so far, remaining at 21,900, which overall suggests that if Nifty 50 decisively breaks down the same support, then the selling pressure may get intensified up to 21,500, while the hurdle on the higher side, in case of rebound, may be seen at 22,200, experts said. On March 15, the BSE Sensex was down 454 points at 72,643, while the Nifty 50 fell 123 points to 22,023 and formed small bodied bearish candlestick pattern with upper and lower shadows on the daily charts, indicating some sort of volatility, while on the weekly scale, the index corrected for the first time in last five consecutive weeks, down 2 percent and formed long bearish candlestick pattern which resembles Bearish Engulfing kind of pattern on the weekly timeframe.
Market wrap up(DWM,T,N,E):After the recent sharp decline, the market remained volatile and is expected to remain rangebound with negative bias in the coming sessions too. In fact, the range has been narrowed with support, so far, remaining at 21,900, which overall suggests that if Nifty 50 decisively breaks down the same support, then the selling pressure may get intensified up to 21,500, while the hurdle on the higher side, in case of rebound, may be seen at 22,200, experts said. On March 15, the BSE Sensex was down 454 points at 72,643, while the Nifty 50 fell 123 points to 22,023 and formed small bodied bearish candlestick pattern with upper and lower shadows on the daily charts, indicating some sort of volatility, while on the weekly scale, the index corrected for the first time in last five consecutive weeks, down 2 percent and formed long bearish candlestick pattern which resembles Bearish Engulfing kind of pattern on the weekly timeframe. he short term and the near-term trend of Nifty remains weak. “A decisive move below 21.900 could open sharp weakness down to the next lower support of 21,500 levels in the near term. Immediate resistance is at 22,200 levels,” he said. Further, the Nifty has once again closed below the rising trendline, bringing market sentiment back into a state of weakness. The momentum indicator suggests bearish momentum in the near term. “Immediate support is situated currently at 21,900, which is expected to provide support for the Nifty. A decisive drop below 21,900 could lead to a sharp decline in the index,” Rupak De, senior technical analyst at LKP Securities said.
Nifty:22146.65/148.95/0.68%;Candle:OF,Long day green; Bank Nifty:46789.95/-191.35/-0.41% Candle:OGD,Doji ; HB:OF,Short day red,1453,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long39%FutCash;-1356;Opt93%
OI data Nifty ( max pain W22150M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added BHEL to the F&O ban list for March 15, while retaining Aditya Birla Fashion & Retail, Manappuram Finance, National Aluminium Company, Piramal Enterprises, RBL Bank, SAIL, Tata Chemicals and Zee Entertainment Enterprises on the said list. Hindustan Copper was removed from the said ban list.
Market wrap up(DWM,T,N,E):Bulls staged a strong comeback after a day of a bear attack, but the uptrend needs to be sustainable and hence only a strong and consistent close above the 22,200-22,300 area can give an upward direction to the Nifty 50 towards 22,500-22,600 levels, till then 21,900-21,860 may act as a support to the index as breaking the same key support can increase the possibility of a sharp downward move, experts said. On March 14, the BSE Sensex rallied 335 points to 73,097, while the Nifty 50 jumped 149 points to 22,147 and formed a bullish candlestick pattern on the daily charts while defending 21,860, the key level for breaking down the higher highs, higher lows formation. “Despite the resurgence of speculative activity, caution is advised as the market still appears to be in uncertain territory. It’s important to observe the weekly close in the upcoming session to confirm the trend,” the Nifty continues to face resistance around the 22,200-22,300 zone, which marks a breakdown level and a 61.8 percent retracement of the recent decline, the index might see a return of weakness in the following week. “In such a scenario, Nifty could revisit the 21,900 – 21,850 zone, which corresponds to significant swings on the hourly chart and coincides with the 50EMA on the daily chart. Below these levels, there could be another wave of intense selling.” Currently, the immediate trading range is between 21,850 and 22,300, he said. Ruchit Jain, lead research at 5paisa.com also feels as of now, it is difficult to assess whether the worst is over just based on one day’s upmove. Hence, follow-up moves will be important to see and thus he advised traders to stay cautious and prefer a stock-specific approach. The broader markets also rebounded after a sharp cut in the previous session. The Nifty Midcap 100 and Smallcap 100 indices gained 2.15 percent and 3.5 percent, respectively.
Nifty:21997.7/-338/-1.51%;Candle:OGU,Long day red; Bank Nifty:46981.3/-301.1/-0.64% Candle:OF,Short day red ; HB:OGU,Short day red, 1460
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long40%FutCash;-4595;Opt95%
OI data Nifty ( max pain W22100M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added RBL Bank to the F&O ban list for March 14, while retaining Aditya Birla Fashion & Retail, Hindustan Copper, Manappuram Finance, National Aluminium Company, Piramal Enterprises, SAIL, Tata Chemicals and Zee Entertainment Enterprises on the said list. Mahanagar Gas was removed from the said ban list.
Market wrap up(DWM,T,N,E):With the nervousness across large-, mid- and small-caps, the bears are expected to keep control over Dalal Street in the coming sessions too. If the Nifty 50 decisively breaks the 21,860 level (the key level for the continuation of higher highs and higher lows formation), then 21,700-21,500 can be the levels to watch going ahead, but if the index manages to rebound, it may face a hurdle at 22,200-22,300 on the higher side, experts said. On March 13, the bloodbath in broader markets on overvaluation concerns raised by the market regulator dented sentiment. The Sensex plunged 906 points to 72,762, while the Nifty 50 fell 338 points or 1.51 percent (the biggest single-day correction since January 23) to 21,998, and formed a large bearish candlestick pattern on the daily charts. The Nifty has experienced a breakdown from a rising channel on the daily chart, signalling the conclusion of the previous uptrend and the potential beginning of a downtrend. Additionally, the index has descended below the recent consolidation phase on the daily timeframe, further emphasizing the increasing weakness. “The relative strength index (RSI) with a period of 14 is showing a bearish crossover and has dropped below the 50 mark. In the short term, the index may continue to be susceptible to selling pressure with resistance anticipated around 22,250. On the downside, support levels are positioned at 21,800 and 21,700,” After the turmoil, Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas changed the short-term outlook to sideways and feels the range of consolidation is likely to be 21,500 – 22,300. The broader markets saw major selling pressure with the Nifty Midcap 100 index falling 4.4 percent and Smallcap 100 declining 5.3 percent. About 23 shares declined for every rising share on the NSE.
