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.
