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.
