Nifty:22356.3/-49.3/-0.22%;Candle:OGD,Doji; Bank Nifty:47581/124.9/0.26% Candle:OGD,Short day green ; HB:OGD,Long day green,1441,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long35%FutCash;574;Opt97%
OI data Nifty ( max pain W22300M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has retained Zee Entertainment Enterprises on the F&O ban list for March 6
Market wrap up(DWM,T,N,E):Given the ongoing tug-of-war between bulls & bears, the market is likely to consolidate further in the coming sessions, though overall trend remains positive, experts said, adding the 22,200 is expected to be immediate support for the Nifty 50 followed by 22,000 mark, with hurdle on the higher side at 22,500 mark. On March 5, the benchmark indices snapped four-day winning streak with the BSE Sensex falling 195 points to 73,677, while the Nifty 50 declined 49 points to 22,356 and formed small bearish candlestick pattern with upper and lower shadows, which resembles Doji kind of candlestick pattern (not exactly on) on the daily charts with lower high, lower low formation, indicating the possibility of some weakness in the near term. “We can see some correction towards 22,200 where support is seen as per the options data. Positionally, the 40 DEMA which has not been breached in the recent corrective phase is now placed around 21,860 and thus the support base is gradually shifting higher,” On the higher side, he feels the resistance is expected around the 22,500 mark followed by 22,700. According to Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas, the hourly momentum indicator has a negative crossover however has reached the equilibrium line indicating that the fall may have matured and once this consolidation has completed the upmove is likely to resume. Meanwhile, India VIX was down by 3.63 percent from 14.92 to 14.38 levels. Volatility cooled off after steaming in the previous week and paved way for the bulls in the market for buy on decline stance, Chandan Taparia, senior vice president | analyst-derivatives at Motilal Oswal The broader markets were also under pressure with the Nifty Midcap 100 and Smallcap 100 indices down 0.3 percent and 1.2 percent, respectively.
