Nifty:22493.55/19.5/0.09%;Candle:OF,Doji,; Bank Nifty:47835.8/-129.6/-0.27% Candle:OF,Short day red, ; HB:OF,Doji,1446,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long42%Fu4tCash;7304;Opt98%
OI data Nifty ( max pain W22500M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Tata Chemicals and SAIL to the F&O ban list for March 11, while retaining Manappuram Finance, Mahanagar Gas, and Zee Entertainment Enterprises on the said list.
Market wrap up(DWM,T,N,E):The market is most likely to continue its northward journey in the coming sessions with next resistance at 22,600-22,800 area, given the continuation of higher highs, higher lows and bullish rising three method pattern formation along with positive bias in momentum indicators, experts said, adding 22,400-22,300 is expected to act as an immediate support for the Nifty 50. On March 7, the benchmark indices closed off day’s high but ended at new record closing high. The BSE Sensex rose 33 points to 74,119, while the Nifty 50 climbed 20 points to 22,494 and formed small bodied bearish candlestick pattern with lower shadow on the daily charts. “Technically, this pattern indicates breather type formation post sharp upside breakout of Wednesday. The bullish rising three method pattern is still intact, and one may expect further upside in the near term,” the upside targets to be watched around 22,800 levels in the next one week (1.618 percent Fibonacci projection of long-term up and down swings). “Immediate support is at 22,310 levels.” the Nifty to maintain the prevailing tone and gradually inch toward 22,800. Traders should maintain stock-specific trading approach and prefer index majors and large midcaps for long trades, The volatility decline maintained downtrend for the seventh consecutive session, making the trend favourable for bulls. The India VIX, the fear gauge, dropped 4.77 percent to 13.61, from 14.30 levels.
